Roger and Annie discuss important tax updates that occurred during the busy tax season, including new IRS guidance on Employee Retention Credits and the current status of Beneficial Ownership Information reporting requirements. They explore the significant staffing challenges and leadership turnover at the IRS, with insights from Roger's recent visit to Washington DC. The hosts then shift focus to post-tax season priorities for practitioners, offering advice on evaluating software, optimizing client relationships, and implementing strategies to improve profitability and efficiency for the next filing season.

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• (00:00) - Welcome Back to Federal Tax Updates
• (02:02) - Post-Tax Season Reflections
• (03:18) - Employee Retention Credit Updates
• (12:20) - Beneficial Ownership Information Reporting
• (18:55) - Current Legislative Landscape in DC
• (25:34) - IRS Staffing and Morale Issues
• (31:37) - Challenges Facing the IRS
• (37:27) - Post-Tax Season Business Strategies
• (42:08) - Client Management and Pricing Strategies
• (47:11) - Maximizing Client Relationships and Billing Opportunities
• (51:07) - Preparing for the Next Tax Season
• (52:46) - Summer Plans and Final Thoughts

Connect with the Roger and Annie on LinkedIn
https://www.linkedin.com/in/rogerharrispbs/
https://www.linkedin.com/in/annie-schwab-852418261/

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For our milestone 50th episode, Roger Harris and Annie Schwab welcome Terry Lemons, who spent 26 years at the IRS including 11 years as Chief of Communications and Liaison. Terry shares insights from working with six different IRS commissioners, preparing officials for congressional testimony, and navigating public perceptions of the agency. The conversation explores the critical role of the tax professional community, challenges facing the IRS today, and lessons from past filing season successes and failures.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

• (00:00) - Welcome to Federal Tax Updates
• (01:44) - Celebrating the 50th Podcast with Special Guest Terry Lemons
• (03:23) - Terry Lemons' Journey to the IRS
• (06:47) - The Role and Influence of IRS Commissioners
• (11:33) - Preparing a Commissioner to Testify Before Congress
• (22:28) - Challenges and Perceptions of Working at the IRS
• (28:43) - Debunking IRS Agent Myths
• (30:57) - IRS Efficiency and Transformation
• (32:24) - Challenges and Improvements at the IRS
• (33:46) - Reflecting on Filing Seasons
• (36:04) - Historical IRS Challenges
• (40:24) - Future Tax Law Changes and Implications
• (44:31) - Terry's Retirement Plans
• (46:07) - The Importance of Tax Professionals Community
• (52:15) - Final Thoughts and Farewell

Connect with Terry Lemons
https://www.linkedin.com/in/terry-lemons-77b3641a9

Connect with the Roger and Annie on LinkedIn
https://www.linkedin.com/in/rogerharrispbs/
https://www.linkedin.com/in/annie-schwab-852418261/

Review
Leave a review on Apple Podcasts or Podchaser

Subscribe
Subscribe to the Federal Tax Updates podcast in your favorite podcast app!

In this episode, Roger sits down with Catharine Madeley, a tax practitioner who recently experienced a data breach at her firm. Catherine shares her firsthand account of how the breach unfolded, the steps she took to respond, and the lessons she learned along the way. She offers valuable insights into the importance of having a robust cybersecurity plan, the critical role of communication with clients, and the need to be proactive in protecting sensitive client information.

*This is a replay of an episode that originally aired in March, 2024.

• (00:00) - Welcome to the Federal Tax Updates Podcast
• (01:30) - Introducing Our Guest: Catharine Madeley
• (03:26) - The Harrowing Tale of a Data Breach
• (04:29) - The Initial Discovery and Immediate Response
• (14:36) - Navigating the Aftermath: Investigation and Recovery
• (23:42) - Reflections and Lessons Learned from the Cybersecurity Incident
• (25:58) - The Aftermath of a Data Breach: A Personal Account
• (26:45) - Law Enforcement's Response to Small Scale Breaches
• (28:36) - Navigating IRS Procedures After a Breach
• (29:51) - The IRS Practitioner Relief Opt-In Program: A Lifeline
• (32:42) - Client Communication and Response to the Breach
• (42:55) - Lessons Learned and Moving Forward
• (49:28) - Final Thoughts and Advice

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Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

Review
Leave a review on Apple Podcasts or Podchaser

Subscribe
Subscribe to the Federal Tax Updates podcast in your favorite podcast app!

This podcast is a production of the 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.