Summer Strategies for Savvy Tax Professionals

In this episode, Roger and Annie discuss a variety of tax-related topics, including updates on the Beneficial Ownership Information (BOI) reporting requirements, and the Employee Retention Credit (ERC). They also cover issues with the postal service causing delays in tax payments reaching the IRS, the benefits of taxpayers and tax professionals setting up online accounts with the IRS, and recent changes to overtime pay thresholds and non-compete clauses. Additionally, they provide tips for tax professionals on what to focus on during the slower summer months, such as working on extension returns, analyzing technology and software, and planning CPE. They close by mentioning the upcoming IRS Tax Forums taking place in various cities across the US.

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• (00:00) - Introduction and Welcome
• (01:04) - Discussion on BOI (Beneficial Ownership Information)
• (01:47) - Hearing Insights and Political Dynamics
• (05:25) - Legal Challenges and Court Cases
• (10:43) - Employee Retention Credit (ERC) Updates
• (14:21) - Mail Issues and IRS Processing Delays
• (21:06) - New FTC Rules on Non-Compete Clauses
• (22:43) - Overtime Protections and Salary Thresholds
• (24:49) - Impact of Elections on Business Regulations
• (25:15) - Challenges for Small Business Owners
• (26:20) - Survey Insights from Tax Season
• (28:12) - IRS Online Services Improvements
• (30:21) - Benefits of IRS Online Accounts
• (36:19) - Summer Strategies for Tax Professionals
• (40:00) - Planning for CPE and Technology Updates
• (42:28) - Upcoming IRS Forums and Final Thoughts

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Roger Harris
Annie Schwab

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