Tax Season Kickoff Federal Tax Updates

Kick off tax season with the Inflation Reduction Act of 2022, the Employee Retention Credit, K-2s and K-3s, the latest 1099s changes, and updates to tax brackets, standard deductions, and mileage rates. Join Roger and Annie for this premier episode of Federal Tax Updates!

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Get NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeAccounting Today - The Year Ahead: Top challenges for 2023
Chapters
(00:00) - FedTax Episode 1
(00:52) - Introducing your hosts: Annie and Roger
(01:55) - Opportunities and challenges for the upcoming tax season
(03:09) - Inflation Reduction Act of 2022
(07:32) - Changes in tax brackets
(08:26) - Updates on Standard Deduction
(09:07) - Mileage rate changes for 2023
(12:23) - Employee Retention Credit opportunity still exists
(21:31) - How COVID impacts the nexus state tax implications
(22:10) - Talent issues within the accounting industry
(24:26) - Emergence of "Quiet Quitting"
(26:43) - Challenges in reporting K-2's and K-3's
(31:20) - The problems that arise when reporting cryptocurrency
(33:31) - Roger's thoughts on recent 1099 events
(42:48) - Omnibus spending package
Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabConnect with Padgettwww.padgettadvisors.comtwitter.com/PadgettUSAlinkedin.com/company/padgett-business-services/
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