Simply Tax Episode 66: What’s New in Tax Legislation?

Presenters/Authors
Edward Karl
Topics
Simply Tax Episode 66: What’s New in Tax Legislation?

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Take a “drive” with frequent guest Ed Karl to hear the latest on tax-related legislation in Washington, D.C. In addition, listen in for updates on cryptocurrency guidance, the taxation of the digitized economy and Ed’s advice for the fall tax season.

TIME STAMPS OF WHAT’S COVERED

  • ”It looks like everything is headed towards a September fiscal cliff” @1:36
  • Ed’s outlook on extenders and Tax Cuts and Jobs Act (TCJA)-related corrections legislation @7:55
  • The Setting Every Community Up For Retirement Enhancement Act of 2019 @11:28
  • Observations on the first tax season under the TCJA @14:20
  • Guidance on virtual currency @18:47
  • Update on the taxation of the digitized economy @21:02
  • Possible preparer regulation @25:34
  • “You have to have a lot patience to work in Washington” @27:27
  • Closing thoughts @30:10

BIO FOR GUEST

Edward Karl, CPA, is the vice president of taxation at the AICPA. He’s responsible for the review, formulation and submission of technical and policy recommendations for improvement of the federal tax process to Congress, the U.S. Department of the Treasury and the IRS. Mr. Karl also serves as a principal liaison for the AICPA with the IRS and is responsible for tax ethical issues, which includes the management of the AICPA’s Statements on Standards for Tax Services. Finally, Mr. Karl oversees the tax division’s delivery of services to members, focusing on helping AICPA members provide the highest quality professional tax services.

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ADDITIONAL RESOURCES MENTIONED IN THE EPISODE

Mentioned on the podcast:

Additional tax reform resources:

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