Corporate Transparency Act of 2021

In this episode, Annie and Roger discuss The Corporate Transparency Act of 2021, what it mandates, and which companies will be affected. They also debate how this act affects the practitioner community and touch on the Dirty Dozen, give some updates on ERC, and how the $80 billion IRS funding is being used.

Padgett -  Contact Padgett or Email Jeff Phillips

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Links mentioned in this episode
IR-2023-62 - Dirty Dozen: IRS urges tax pros and other businesses to beware of spearphishing; offers tips to avoid dangerous common scams
FAQs for Form 1099-K -

  • (00:00) - FTU E7
  • (01:11) - Corporate Transparency Act of 2021 (CTA)
  • (07:17) - What are the penalties for disobeying the CTA
  • (09:09) - What does the CTA look like?
  • (29:15) - Updates on ERC
  • (40:46) - New information on the electric vehicle tax credit
  • (45:14) - Thoughts on armed IRS agents?
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Annie Schwab

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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.

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
Corporate Transparency Act of 2021
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