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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Padgett - Contact Padgett or Email Jeff Phillips

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Links mentioned in this episode
Accounting Today - The Year Ahead: Top challenges for 2023

Chapters

(00:00) - FedTax Episode 1
(00:21) - Introducing your hosts: Annie and Roger
(01:24) - Opportunities and challenges for the upcoming tax season
(02:38) - Inflation Reduction Act of 2022
(07:01) - Changes in tax brackets
(07:55) - Updates on Standard Deduction
(08:36) - Mileage rate changes for 2023
(11:52) - Employee Retention Credit opportunity still exists
(21:00) - How COVID impacts the nexus state tax implications
(21:39) - Talent issues within the accounting industry
(23:12) - Emergence of "Quiet Quitting"
(25:29) - Challenges in reporting K-2's and K-3's
(30:06) - The problems that arise when reporting cryptocurrency
(32:17) - Roger's thoughts on recent 1099 events
(41:34) - Omnibus spending package

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Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

Connect with Padgett
www.padgettadvisors.com
twitter.com/PadgettUSA
linkedin.com/company/padgett-business-services/

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The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

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