Roger and Annie cover a mid-year batch of tax updates: new Trump account reporting rules and gift tax relief, the tangled world of NIL taxation (including a court case over an influencer's courtside Lakers tickets and concert deductions), a new automatic penalty relief program, IRS online account updates, practitioner succession planning requirements, and fresh AI guidance for tax practice.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Links mentioned in this episode

Chapters

• (00:00) - Podcast kickoff and travel
• (01:49) - Midyear tax roundup agenda
• (02:37) - Trump accounts reporting changes
• (03:40) - Gift tax safe harbor update
• (07:29) - ERC claim extension option
• (09:43) - NIL taxes and missing guidance
• (14:39) - Influencer deductions court battle
• (23:13) - Sports tax talk and big events
• (24:40) - Automatic penalty relief program
• (28:22) - Automatic Penalty Relief Concerns
• (30:06) - Tax Pro Account Benefits
• (31:56) - Online Accounts Going Mainstream
• (33:50) - Helping Clients With IDme
• (34:50) - Paper Checks and Digital Push
• (38:13) - Succession Planning Best Practices
• (43:32) - AI Guidance Under Circular 230
• (48:12) - AI Fees and Due Diligence
• (50:12) - Minimum Standards for Preparers
• (51:22) - IRS Forums and 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 preview Roger's upcoming NATP presentation, using ERC and the Kwong case as case studies for how firms can turn disruptive tax changes into revenue rather than just extra work. They walk through the mistakes made during ERC (delayed action, existing-clients-only focus, missed growth opportunity), the closing window on Kwong refund claims, and what firms need in place internally and externally to capitalize on the next unexpected change. The conversation closes with a candid take on AI's role in reshaping the profession, and why proactive communication, not tax return production, is where firms will keep their value.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Chapters

• (00:00) - Welcome Back Annie
• (00:50) - Previewing The Conference Talk
• (02:46) - Clients Want Advisory
• (08:09) - AI And The Future
• (10:03) - ERC Lessons Learned
• (15:16) - Tools For Fast Changes
• (17:29) - Marketing Beyond Clients
• (26:05) - OBBA And Data Mining
• (31:14) - Invest in Tech Stack
• (32:16) - OBB Client Communication
• (34:58) - Kwong Case Refund Window
• (39:29) - Data Mining and Online Accounts
• (41:45) - Communicate Even If Referring
• (46:18) - From Awareness to Action Plan
• (48:08) - AI as Drafting Assistant
• (49:39) - Future of Advisory Work
• (53:18) - AI Judgment and Pricing
• (58:08) - Wrap Up and Next 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 Harris is solo while Annie Schwab is on sabbatical, joined by John Lipold of the IRS Office of National Public Liaison for a look at this summer's IRS Nationwide Tax Forums, including the brand-new Day Zero sessions, the return of case resolution, early-bird pricing, and the cities likely to sell out first. The episode also covers an OPR alert urging every firm to build a succession plan, the IRS appeal in the Kwong case and the July 10 refund deadline it does not extend, renewed seasonal hiring, the new Tax Professional Management Office, and the bipartisan Taxpayer Assistance and Service Act moving through the Senate.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Links mentioned in this episode
https://www.irstaxforum.com/

Chapters

• (00:00) - Welcome and Guest Intro
• (01:03) - What National Public Liaison Does
• (03:50) - Tax Forum Season Overview
• (05:01) - Cities Dates and Logistics
• (05:57) - What Makes Forums Different
• (10:02) - Pricing and Registration Deadlines
• (11:27) - Case Resolution and Digital Help
• (13:48) - Day Zero Practice Management
• (18:08) - Exhibit Hall and Networking Perks
• (19:52) - Sellouts and Final Forum Tips
• (23:13) - Transition to Other Updates
• (24:12) - Kwong Case Appeal and Deadlines
• (29:54) - Succession Planning OPR Alert
• (39:56) - IRS Hiring and Practitioner Office Changes
• (44:17) - Taxpayer Assistance and Service Act
• (51:01) - Wrap Up and Next Episode

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.