Roger and Annie tackle a topic they've never covered before: the tax issues that come with aging, for clients and preparers alike. They break down the new senior deduction, Social Security claiming strategies across the 62/67/70 timeline, IRMAA appeals, RMD rules, and when long-term care costs are actually deductible. They close with a cautionary tale about gifting appreciated property too early and the recordkeeping every family should have in place before it's needed.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Links mentioned in this episode

Chapters

• (00:00) - Welcome and Forum Travel
• (00:59) - Listener Shoutouts and Podcast Origins
• (02:21) - Tax Talk Today Inspiration
• (04:23) - Senior Deductions and Filing Thresholds
• (07:51) - Social Security Tax Basics
• (08:48) - When to Claim Social Security
• (15:48) - Solvency Fears and Policy Fixes
• (20:21) - Medicare Premiums and IRMAA Appeals
• (22:29) - Retirement Plans and Inherited IRAs
• (24:57) - RMD Rules and Planning Ideas
• (27:29) - Long Term Care and Medical Deductions
• (28:25) - Senior Living Deductions
• (29:12) - Chronically Ill Criteria
• (30:35) - Spouses Insurance Statements
• (32:21) - Meals Fees Itemizing
• (34:38) - Facility Records Due Diligence
• (36:26) - Gifts vs Inheritance Basics
• (37:57) - Basis Step Up Valuations
• (41:43) - Estate Returns Advisory
• (43:32) - Gifting Appreciated Property
• (43:57) - Lake House Cautionary Tale
• (48:04) - Client Records Planning
• (51:01) - Bank Red Tape Death Certificates
• (54:21) - Advisor Role Wrap Up
• (55:25) - Podcast Closing Updates

This podcast is a production of Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Roger and Annie broadcast live from the IRS Tax Forum in New Orleans, pulling four guests off the exhibit hall floor for individual segments. Larry Gray breaks down how he teaches digital assets and 1099-DA reporting to practitioners who've never touched crypto, and Alan Pinck talks through the "no tax on tips/overtime/social security/car loan interest" provisions and where AI fits into practice management. Kelly Myers (incoming NSA president) and returning guest Maggie Romanello close things out with career news and a look at how the IRS stakeholder liaison role actually works.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Links mentioned in this episode
NATP (National Association of Tax Professionals)
https://www.natptax.com/

Tax Talk Today
https://www.taxtalktoday.com/

Alan Pinck's practice
https://apincktax.com/

NSA (National Society of Accountants)
https://www.nsacct.org/

IRS Stakeholder Liaison Contacts (
https://www.irs.gov/businesses/small-businesses-self-employed/stakeholder-liaison-contacts

Chapters

• (00:00) - Live From Tax Forum
• (01:09) - Meet Larry
• (02:00) - Teaching That Sticks
• (03:11) - Hot Topics And Crypto
• (07:41) - NATP Roots And Advocacy
• (12:12) - Fighting Bad Tax Advice
• (14:47) - Larrys Forum Day And Family
• (17:12) - Meet Alan And His Session
• (21:37) - Forum Energy And Exhibit Hall
• (24:44) - Tax Talk Today Origins
• (25:30) - Discussion First Format
• (25:49) - Seven Shows Schedule
• (26:32) - CPE Packages And Clips
• (28:30) - New Orleans Plans
• (30:06) - Utah Move And Routine
• (31:51) - Alan Wrap And Tour Dates
• (32:38) - Kelly Joins
• (35:39) - Teaching And Mentoring
• (39:17) - NSA Community Benefits
• (40:37) - AI Needs Human Review
• (44:13) - Maggie New IRS Role
• (47:28) - Stakeholder Liaison Explained
• (49:53) - How To Contact Liaison
• (53:16) - Podcast Wrap Up

This podcast is a production of Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Roger and Annie take a midyear look at how the IRS is holding up: call center struggles, a wave of CP2000, CP05, and CP14 notices, and the sudden departure of top Treasury tax official Ken Kies. They break down the new automatic penalty abatement replacing the old first-time abatement process, updates to Trump accounts, and a long list of OBBBA provisions kicking in for 2026, from the educator expense deduction to a higher 1099-K threshold. They close with practical tips for managing the fall extension crunch and a prediction on whether the TAS Act clears its Senate Finance Committee markup.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Links mentioned in this episode

Chapters

• (00:00) - Welcome and Catch Up
• (00:31) - Summer Tax Conference Circuit
• (04:06) - Why IRS Phones Struggle
• (06:22) - Digital Self Service Push
• (08:44) - Staffing Tech and Leadership Shift
• (12:34) - Tips and Overtime Reporting 2026
• (14:39) - Refund Notices and Paper Checks
• (16:53) - Most Common IRS Notices
• (21:05) - Trump Accounts Guidance Update
• (24:03) - Kwong Case Status and Deadlines
• (27:00) - Fall Extension Survival
• (28:43) - Client Info Deadlines
• (31:13) - Systems and Automation
• (33:07) - Midyear Client Touchpoints
• (34:00) - Advisory in AI Era
• (35:21) - Automatic Penalty Relief
• (38:00) - AEP Tradeoffs Explained
• (42:36) - Key Changes for 2026
• (45:59) - Business and Reporting Updates
• (48:50) - TAS Act Outlook
• (53:43) - Conference Plans and Farewell

This podcast is a production of Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.