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Tax Section Odyssey

Business & Economics Podcasts

Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices.

Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices.

Location:

United States

Description:

Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices.

Twitter:

@aicpa

Language:

English


Episodes

K-2/K-3 — Making sense of new international passthrough reporting

11/17/2021
In June 2021, the IRS released final versions of two new international-related schedules that are being added to passthrough entity returns: Partners' Distributive Share Items — InternationalPartner's Share of Income, Deductions, Credits, etc. — International The new international-related schedules will be required for 2021 partnership and S corporation returns and 2021 Schedules K-1, Partner's Share of Income, Deductions, Credits, etc. In this Tax Section Odyssey episode, April Walker,...

Duration:00:25:35

Special edition: Update on recent tax legislation

11/12/2021
The Infrastructure Investment and Jobs Act was approved in the House of Representatives on Nov. 5, 2021 and is headed to President Joe Biden's desk to be signed into law. The House passed the legislation by a 228–206 vote after it passed the Senate by a 69–30 vote in August. In this Tax Section Odyssey episode, April Walker, CPA, CGMA, from the AICPA Tax Section, highlights major tax-related items contained in the bill and shares several resources available for practitioners to navigate the...

Duration:00:06:54

Why international tax is a big deal for every tax practitioner

11/3/2021
Many tax practitioners think their clients are insulated from the world of international tax issues. However, as the business environment continues to evolve globally, tax practitioners need to make sure they are taking inventory of various international tax matters. International tax policies can dramatically affect business decisions, job creation and retention and office and plant locations. Having exposure to international tax issues will allow tax practitioners to spot potential issues...

Duration:00:21:11

2021 top tax issues commentary

10/20/2021
The 2021 PCPS CPA Firm Top Issues Survey polled firms of all sizes to get a pulse on the top pressing issues impacting them. In this Tax Section Odyssey episode, April Walker, CPA, CGMA, from the AICPA Tax Section and Brad Barbour, CPA, from the AICPA Private Companies Practice Section, and host of the Small Firm Philosophy podcast discuss tax-related challenges that emerged in the 2021 CPA Firm Top Issues Survey. What you’ll learn in this episode AICPA resources Resources to address CPA...

Duration:00:18:05

Dissecting the latest in the world of crypto assets and taxes

10/6/2021
As virtual currencies gain more traction in the marketplace, the IRS is taking notice. Your clients may be unaware of the tax reporting requirements and the tax implications from their cryptocurrency transactions. In this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, Association of International Certified Professional Accountants, representing AICPA & CIMA, and Shehan Chandrasekera, CPA, Head of Tax Strategy — CoinTracker, delve into the cryptic...

Duration:00:21:19

Pivot from tradition — Innovative approaches to billing

9/23/2021
As a tax practitioner during the revolving door of tax law changes this year, you might have asked yourself questions such as: If any of the above apply, we have some tips. Loren Fogelman, a business coach for accounting professionals at Business Success Solution, provides some best practices on how to innovate your billing practices for the future. What you’ll learn in this episode AICPA resources CPA Marketing Toolkit Other resources 10 steps to package and price your servicesBusiness...

Duration:00:31:07

Road to recovery — Primer on disaster tax relief

9/8/2021
The impact of disasters can be life changing. Fortunately, special tax law provisions may aid in the recovery efforts for individual taxpayers and businesses alike. Depending on the circumstances, the IRS may grant additional time to file returns and pay taxes. Victims may also be able to deduct casualty losses that occurred. In this Tax Section Odyssey podcast episode, Jerry Schreiber, CPA, partner at Schreiber & Schreiber in Louisiana, the recipient of the AICPA’s 2018 Arthur J. Dixon...

Duration:00:18:45

Confessions from a CPA overachiever on professional growth

8/26/2021
The Association of International Certified Professional Accountants provides the world’s most highly skilled accountants with knowledge, insight and foresight to meet the demands of a disruptive world. It is a driving force in a dynamic profession that powers trust, opportunity and prosperity for people, businesses and economies worldwide. But the Association can’t do its work without the dedicated group of volunteers behind the scenes. Approximately 2,500 volunteers serving across nearly...

Duration:00:18:36

ERC — what we know now

8/11/2021
The employee retention credit (ERC) is a new credit created in the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed in March 2020 and later modified with subsequent legislation. Tax preparers and their clients have been anticipating updated guidance on several remaining questions related to the ERC. On August 4, the IRS issued Notice 2021-49 and accompanying IR-2021-165. Further, on August 10, the IRS issued Rev. Proc. 2021-33, which provides a safe harbor permitting...

Duration:00:15:28

Finalizing tax returns when you don’t have all the answers

7/26/2021
The ongoing COVID-19 pandemic has impacted both the personal and professional lives of CPAs and their clients. The legislative changes alone provided an incredible amount of complexity to sift through, but the trailing guidance thereafter has compounded the intricacy. Two of the most talked about pieces of enacted legislation is the Paycheck Protection Program (PPP) and the employee retention credit (ERC). While we have guidance on how to treat most aspects of these provisions, key...

Duration:00:29:44

Summer housekeeping reminders for tax practitioners

7/22/2021
Summer may be in full swing, but tax practitioners still need to be mindful of certain alerts and deadlines that might have gotten lost in the shuffle earlier this year. Annette Nellen, CPA, CGMA, Esq., Tax Professor – MST Program at San Jose State University, and a past Chair of the AICPA Tax Executive Committee, shares her summer hit list of items to be aware of including: What you’ll learn in this episode AICPA resources Employer retention credit guidance Other resources Use Tax Pro...

Duration:00:29:54

The future focused tax practitioner

7/8/2021
The pressure to adapt business models to the present while simultaneously preparing for the future has always been a force acting upon professionals. On this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — Association of International Certified Professional Accountants, representing AICPA & CIMA, and Donald A. Nelson, EA, Co-Founder — Pacesetter Tax, discuss current technology buzz words and what it takes to become modern firm in a sustainable model. What you’ll learn...

Duration:00:21:04

Talking to clients about the advanced child tax credit before July

6/24/2021
On this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — Association of International Certified Professional Accountants, representing AICPA & CIMA, and Larry Pon, CPA/PFS, CFP, EA, USTCP, AEP — Pon & Associates, review the changes to the 2021 child tax credit (CTC) and discuss the latest news regarding the related advanced payments. The American Rescue Plan Act enacted in March 2021 temporarily expands the CTC amount for certain taxpayers, made the credit fully...

Duration:00:20:28

Challenges with contingency fees and the ERC

6/9/2021
The employee retention credit (ERC) has been a significant lifeline to struggling businesses in the wake of the COVID-19 pandemic. The refundable credit was first established in March 2020 with the enactment of the Coronavirus Aid, Relief and Economic Security (CARES) Act. Since then, is has been expanded in various other relief legislation, most recently in the American Rescue Plan Act, H.R. 1319 enacted in the first quarter of 2021. While at its core the mechanics may appear...

Duration:00:13:39

A look towards the horizon for potential tax legislation

5/25/2021
The past 15 months have been a whirlwind in the tax arena with several COVID-19 relief packages introducing new tax provisions and enhancements to older ones now passed and packed away. President Biden, his administration and Congress are turning their attention to more permanent legislative tax reform measures. On this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager – AICPA Tax Section, sits down with Lauren Pfingstag, Director of AICPA Congressional & Political Affairs,...

Duration:00:17:32