Gearing Up for Q4: Tax Prep Tips and Insights

In this episode, Roger and Annie cover recent federal tax updates and urge tax professionals to gear up for the October 15 extension by assessing their performance and contemplating tax software changes. They delve into rising IRS audit notices for the Employee Retention Credit (ERC), the new 1099-K reporting threshold, the IRS's halt on surprise visits by revenue officers, and the impending Corporate Transparency Act.

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Annie Schwab

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All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.
  • (01:02) - Welcome to Federal Tax Updates : how to be proactive
  • (08:26) - What's new with ERC
  • (11:43) - Estimated tax payments or adjusting withholdings
  • (14:05) - The start of IRS notices and what do they mean?
  • (16:15) - How to respond to an IRS Notice?
  • (28:51) - What kind of documentation does the IRS expect small business owners to have?
  • (37:10) - Updates on 1099-Ks
  • (46:32) - New changes in policy for the IRS
  • (48:26) - Updates on the Transparency Act
  • (54:17) - Making changes to your overall work environment
  • (55:25) - Remember to subscribe so you don't miss an episode

Creators and Guests

Annie Schwab, CPA
Annie Schwab, CPA
Franchisee Operations Manager at Padgett Business Services
Roger Harris, EA
Roger Harris, EA
President at Padgett Business Services
Gearing Up for Q4: Tax Prep Tips and Insights
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