View Padgett President Roger Harris' congressional testimony on the impact of the Corporate Transparency Act and the BOI reporting requirements here.
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Check out the latest blog posts for accounting firm owners
Empowering Tax Practitioners: The Hidden Opportunities in IRS Collaboration
“The IRS wants your input.” If that statement surprises you, it’s time for a paradigm shift. As revealed in a recent episode of the Federal Tax Updates podcast featuring IRS officials and tax professional leaders, a new era of collaboration is emerging in tax administration. Gone are the days of an insular IRS. As Terry Lemons, the IRS’s Chief Communications and Liaison Officer, states today, “We can’t run the tax system by ourselves at the IRS. We need help. Tax professionals play a vital role.” This focus on partnering with tax pros offers practitioners new opportunities for input, education, and problem-solving. In a live podcast from the bustling halls of the IRS Nationwide Tax Forum, hosts Roger Harris, EA, and […]
Read More >>Beyond the Deadline: Why BOI Reporting Is Just the Tip of the Tax Iceberg
“In the next 90 days, we’re going to see an election that could reshape tax policy, the potential expiration of major tax provisions, and the deadline for a new reporting requirement that affects millions of businesses. Welcome to the world of tax law in 2024, where the only constant is change.” These words from host Roger Harris, EA, in a recent Federal Tax Updates podcast capture the challenges facing tax professionals today. Roger and co-host Annie Schwab, CPA, cover the latest developments. In Roger and Annie’s view, tax professionals need to take a three-pronged approach to serving clients in this environment: continuous learning to stay ahead of changes, robust client communication to manage expectations and provide clarity, and adaptive planning […]
Read More >>Is Your Firm Ready for the Global Talent Crunch? 3 Key Strategies for Accounting Leaders
With fewer college graduates turning to the accounting profession and older accountants retiring en masse, the accounting profession faces an unprecedented challenge in talent management. As Jeff Phillips, CEO of Padgett Business Services and founder of Accounting Fly, warns: “By 2030, there will be 50 million more knowledge worker jobs than there will be people to fill them globally.” In a recent Federal Tax Updates podcast episode, Jeff joined hosts Roger Harris, EA and President at Padgett, and Annie Schwab, CPA and Franchise Operations Manager at Padgett, to explore the seismic shifts occurring in the accounting profession’s labor market. This talent crunch is already impacting the accounting profession, with near-zero unemployment eroding traditional value propositions. Jeff notes, “We are […]
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