In this episode of the Tax Section Odyssey podcast, host April Walker is joined by Michael Waalkes of Kostelanetz LLP to discuss Kwong v. United States and why it has become a practical, time-sensitive issue for CPA firms after filing season. The episode discusses the facts of the case and what it held at a high level, why Sec. 7508A's COVID disaster relief period (through July 10, 2023) is driving renewed attention, and how the reasoning may affect deadlines, refund-suit timing, and potential interest/penalty arguments for certain clients. The conversation focuses on what firms are doing right now — client communications, internal triage, documentation, and risk management — along with how to think about tools like client alerts and protective claims while the law and potential IRS guidance continue to develop.

Questions answered in this episode:

• What did Kwong v. United States actually hold, and why did it is a "post–April 15" priority for firms?
• How does Sec. 7508A's COVID disaster relief period (through July 10, 2023) affect statutes of limitation and other key deadlines?
• Which clients and fact patterns should firms' triage that might be affected by this ruling?
• What's the practical risk-management approach when the law is still unsettled?
• What is a "protective claim," and when might it make sense (or not) in the context of Kwong and potential interest/penalty arguments?

AICPA resources

AICPA IRS Practice & Procedures resource center

Disaster Tax Relief Procedures and Processes

Other resources

National Taxpayer Advocate Blog: Tens of Millions of Taxpayers May be Eligible for Significant Tax Refunds - If they act by July 10

KWONG v. USA court decision

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.

This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

In this joint Tax Section Odyssey and Journal of Accountancy (JofA) podcast episode, host Neil Amato is joined by Melanie Lauridsen, AICPA VP of Tax Policy & Advocacy and Todd Sloves, AICPA Director of Congressional & Political Affairs, to discuss why paid tax preparer oversight is back in the spotlight. The conversation looks at key findings from a recent Government Accounting Office (GAO) report, what "minimum professional standards" could mean for the largely unregulated preparer market, and how the Senate's Taxpayer Assistance and Service (TAS) Act would implement guardrails and enforcement tools. The episode also explains a practical proposal from the SAFE Act that could simplify filing extensions and reduce penalty risk for taxpayers.

Questions answered in this episode:

• What did the GAO find in its latest report on paid tax return preparers, and why does it matter to taxpayers and the IRS?
• Why are so many paid tax preparers considered "unregulated," and what risks can that create for taxpayers?
• What are "minimum professional standards" for paid preparers, and what role does the AICPA support for establishing them?
• How would the TAS Act change IRS authority and guardrails around PTINs (including the ability to revoke and restore a PTIN)?
• How would the SAFE Act's extension safe harbor simplify filing an extension and help reduce underpayment penalty exposure?

AICPA resources

AICPA Advocacy news and resources

AICPA Tax Section

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.

This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

Filing season is here — and so is confusion. In this episode, host April Walker, CPA, CGMA, Senior Manager — AICPA & CIMA, is joined by Mark Gallegos, CPA, MST, Partner — Porte Brown, to break down the most common questions around the new H.R. 1, P.L. 119-21, the law known as the One Big Beautiful Bill Act (OBBBA) provisions, from Trump accounts to the senior deduction as well as discussion around electronic payments and refunds. Practical guidance is here to help you cut through the noise and get it right.

What you'll learn from this episode:

• How new Trump accounts are prompting new client questions while key issues remain unresolve
• How to clear up confusion around the senior deduction and social security taxation
• What additional information may be needed from clients for the new deductions for tips, overtime and auto loan interest
• Why practitioners might need to ask more questions related to energy credit expenditures
• That managing client misinformation and expectations is a core busy-season skill, especially as guidance continues to evolve.

AICPA resources

Planning after tax changes

FAQs on qualified tip and overtime deductions

IRS Payment Modernization: Sending and Receiving Funds Electronically

IRS Practice & Procedures

Trump accounts under Sec. 530A — FAQs and insights

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.

This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.