Roger and Annie welcome back Thad Inge to decode what's happening in Washington DC as filing season kicks off. With potential government shutdowns, billion-dollar IRS budget cuts, and 25% of IRS staff gone through early retirements, uncertainty looms over tax professionals trying to implement retroactive provisions for overtime and tips. The conversation shifts to the renewed push for minimum tax preparer standards and why getting bipartisan legislation passed might be harder than ever in an election year.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Connect with Thad Inge
LinkedIn: https://www.linkedin.com/in/thad-inge-9342155
Website: https://www.vsadc.com/

Chapters

• (00:00) - Introduction and Greetings
• (03:15) - Congressional Updates and Government Shutdown Concerns
• (09:19) - IRS Staffing and Service Levels
• (11:31) - Tax Legislation and Employer Guidance
• (16:08) - State Tax Variations and Software Updates
• (19:35) - IRS Budget Cuts and Inflation Reduction Act Funds
• (25:25) - Student Loan Offsets and Political Implications
• (28:31) - Potential Tax Legislation and ACA Premium Tax Credits
• (29:35) - Trump's Healthcare Plan and Legislative Challenges
• (30:10) - Tax Extenders and Bipartisan Cooperation
• (32:36) - Child Tax Credit and Legislative Vehicles
• (33:24) - The Legislative Process and Unanimous Consent
• (37:02) - Senator Tillis and Party Defections
• (40:10) - Minimum Standards for Tax Preparers
• (53:57) - Incentivizing E-Filing for Small Businesses
• (58:12) - Conclusion and Upcoming Tax Season

This podcast is a production of 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.

Roger and Annie open 2026 by reviewing the major provisions from the Big Beautiful Bill that will affect this tax season, including no tax on tips, overtime exemptions, senior deductions, and car loan interest. They shift focus to practice management essentials that often get overlooked, discussing how to set boundaries with clients, right-size your firm, avoid becoming a bottleneck, and build a sustainable business model that doesn't require working 90-hour weeks. The conversation covers everything from engagement letters and payment policies to contingency planning and post-season evaluation.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Links mentioned in this episode

Chapters

• (00:00) - FTU 67
• (00:37) - Overview of 2026 Tax Season Changes
• (02:31) - Key Tax Provisions for 2025
• (05:16) - No Tax on Tips and Overtime
• (11:59) - Senior Citizen Deduction and Car Loan Interest
• (15:10) - Introduction of Trump Accounts
• (19:55) - Practice Management and Work-Life Balance
• (31:12) - The Importance of Delegation and Trust
• (31:59) - ‌
• (34:54) - Contingency Planning for Unforeseen Circumstances
• (42:13) - Client Engagement and Scope Management
• (48:15) - Post-Tax Season Evaluation
• (53:13) - New Legislation and Client Communication
• (59:17) - Final Thoughts and Encouragement

This podcast is a production of 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.

This is a bonus episode from a recent webinar Annie and Roger did.

Prepare for Tax Season 2026 and the changes brought by the One Big Beautiful Bill Act. Join Federal Tax Updates co-hosts Roger Harris and Annie Schwab for a focused look at the most impactful provisions and what they mean for your clients. They break down the latest IRS updates, highlight the questions firms are already hearing, and share practical advice to help your firm prepare for the year ahead.

Roger Harris, EA - https://www.linkedin.com/in/rogerharrispbs/
Annie Schwab, CPA - https://www.linkedin.com/in/annie-schwab-852418261/

Learn more about Padgett: https://www.padgettadvisors.com/

🔔 NASBA-approved CPE and IRS-approved CE credits are offered via Earmark https://www.earmark.app/c/3168