Podcast appearances and mentions of annette nellen

Former IRSAC Chair Annette Nellen joins Roger and Annie to discuss critical challenges facing the IRS and tax administration. The conversation explores the growing tax gap, the importance of consistent IRS funding, and efforts to modernize taxpayer services through online accounts and digital solutions. The discussion also delves into proposals for tax preparer regulation, continuing education requirements for enrolled agents, and the complexities of implementing cryptocurrency reporting requirements.SponsorsPadgett -  Contact Padgett or Email Jeff Phillips(00:00) - Welcome to Federal Tax Updates (01:35) - Introducing Special Guest Annette Nellen (02:26) - Understanding the ERSAC Annual Report (05:40) - Deep Dive into the Tax Gap (07:52) - IRS Funding and Its Impact (19:04) - Tax Literacy and Education Challenges (25:48) - Modernizing the IRS and Funding (30:33) - IRS Hiring Challenges and Misconceptions (31:48) - Impact of Potential Hiring Freeze (33:28) - IRS Strategic Operating Plans and Online Accounts (36:50) - Technological Advancements and Challenges (43:44) - Practice Management and Professional Development (47:48) - Regulating Tax Return Preparers (52:17) - Digital Currency and Cryptocurrency Regulations (55:19) - Conclusion and Final Thoughts Connect with Annette Nellenhttps://www.linkedin.com/in/annette-nellen-7448824IRSAC Reporthttps://www.irs.gov/pub/irs-pdf/p5316.pdfGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Connect with the Roger and Annie on LinkedInhttps://www.linkedin.com/in/rogerharrispbs/https://www.linkedin.com/in/annie-schwab-852418261/ReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of the Earmark Media

Another busy season is upon the profession. With several tumultuous tax seasons in the recent past, the 2023 tax filing season is shaping up to be relatively normal, a welcomed changed for taxpayers, tax practitioners and the IRS. Normalcy doesn't exactly equate to status quo, however. There are new rules, new guidance releases as well as established items with newfound scrutiny that practitioners and taxpayers need to be aware of. On this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, AICPA & CIMA, conducts a tax season pulse check with Annette Nellen, CPA, CGMA, Esq., Tax Professor — MST Program at San Jose State University, and a past Chair of the AICPA Tax Executive Committee, touching on some key topics in the tax arena that are currently noteworthy. What you'll learn in this episode Latest in virtual currency/digital assets and the most recent AICPA comment letter (1.02) Confusion around “worthless” virtual currency (4.17) Practical discussion on the Form 1099-K and the transition year (13.14) Change in the bonus depreciation percentage for 2023 (23.31) Reminders about the accumulated earnings tax and personal holding company tax (25.18) ChatGPT (29.32) A page from Annette's travel journal (34.02) Related resources AICPA comments for IRS consideration on AICPA proposed FAQs on the new digital assets question on the 2022 Form 1040 — AICPA suggested for IRS consideration proposed frequently asked questions (FAQs) to assist taxpayers in responding to the new digital asset question on the 2022 Form 1040, U.S. Individual Income Tax Return and discussed in the instructions. Also see AICPA press release on these comments. AICPA tax season library — With constant changes to the tax landscape, being prepared for tax season is critical for success. Set yourself up for a smoother filing season by tapping into the wealth of AICPA and Tax Section resources. ChatGPT and the tax law — Official blog post by Professor Nellen on the 21st Century Taxation website. Chief Counsel Advice (CCA) 202302011 — Addresses the applicability of Sec. 165 to cryptocurrency that has declined in value. Frequently asked questions about Form 1099-K – Links to frequently asked questions about the Form 1099-K including general information, reporting requirements and filing the form. Internal Revenue Manual (IRM) 4.10.13.2 – IRM on accumulated earnings Tax (IRC 531) IRS Practice & Procedure — Browse the latest resources to help with IRS tax matters including news, guidance and tools. Reminder to answer the digital asset question on the 2022 tax return — In IR-2023-12, Jan. 24, 2023, the IRS reminded taxpayers that they must again answer a digital asset question and report all digital asset-related income when they file their 2022 federal income tax return, as they did for fiscal year 2021. The term "digital assets" has replaced "virtual currencies," a term used in previous years. U.S. Federal Tax law Hierarchy — Understand the weight of taxing authorities from highest to lowest for use in determining whether a source can be relied upon for a tax position. 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.

A WORD FROM OUR SPONSORThank you to our sponsor, Avalara. Avalara's award-winning tax automation solutions help accounting practitioners and businesses of all sizes simplify sales tax compliance and with real-time rates, automated returns filing, and more.In October 2021 IDC MarketScape named Avalara a Leader in tax automation in three categories (small and midsize business, enterprise, and VAT).  If you're considering tax automation, check out Avalara.HOW TO EARN FREE CPEIn less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for The Good, The Bad, and The Ugly Accounting channel. Register for the course, complete a short quiz, and get your CPE certificate.Download the app:Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appQuestions? Need help? Email support@earmarkcpe.com.Staying Relevant & Currenthttps://www.sjsu.edu/people/annette.nellen/website/Staying_Relevant_Nellen.pdfConnect with Annette:https://www.linkedin.com/in/annette-nellen-7448824/https://www.sjsu.edu/people/annette.nellen/http://www.21stcenturytaxation.com/Connect with Lorilyn Wilson :https://twitter.com/LorilynWilson________________________________________________Full transcript available upon request 

At the end of 2017, the Tax Cuts and Jobs Act (TCJA), P.L. 115-97 delivered the $10,000 state and local tax (SALT) deduction limitation. Before passage of TCJA, individuals who itemized deductions could deduct their state tax payments in full using Schedule A, Itemized Deductions, of their federal Form 1040, U.S. Individual Income Tax Return. Now that the amount of the deduction is limited, shifting the income taxes directly to the passthrough entity swings the deduction upstream. In theory, a basic workaround seems simple. However, the varying mechanics of how each state's workaround actually works has created complexities for taxpayers and practitioners. On this episode of the Tax Section Odyssey, Alexander Scott, JD, LLM Senior Manager — AICPA Tax Policy & Advocacy, and Annette Nellen, CPA, CGMA, Esq., Tax Professor — MST Program at San Jose State University, and a past Chair of the AICPA Tax Executive Committee, join April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section, to examine the current state of various passthrough entity (PTE) tax workaround regimes. What you'll learn in this episode Overview of the passthrough entity (PTE) tax  (1.07) Items to keep in mind that vary among states (2.23) Highlights of the Notice 2020-75 published in 2020 (4.05) Considerations for tax practitioners when working with clients (7.42) Terminology considerations, including “specified income tax payments” and “nonseparately stated taxable income or loss” (8.55) Additional considerations to keep in mind for compliance purposes, including what personnel within a client's business you're interacting with (10.55) Similarity to second class of stock complications (12.26) Form presentation and partnership agreement modifications (15.35) Timing sensitivities and mechanic issues (17.15) Final thoughts (21.42) AICPA resources SALT Roadmap — State and Local Tax Guide — Navigate the complex world of state and local taxes with an animated map compiling basic state information and quick links to state's forms and instructions, government websites and CPA society information. State and Local Tax Advocacy Resources — Information on state-level advocacy issues featuring the AICPA position paper on state PTE tax implementation issues. States with adopted or proposed PTE tax — This map demonstrates state activity regarding PTE tax. The Tax Adviser —a collated list of the latest articles on the SALT cap deduction.  Other resources Notice 2020-75 — The IRS clarified in 2020 that partnerships and S corporations may deduct their state and local tax (SALT) payments at the entity level in computing their nonseparately stated taxable income or loss. In addition, the notice announced that the Department of the Treasury and the IRS intend to issue proposed regulations of the same. 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 episode, we discuss the state of U-S tax policy, as well as some ideas for how to overhaul the system to make it more equitable, efficient, and coherent. We also discuss some current tax structures… and their practical impacts on the items we buy… the money we make… and who bears an unequal share of the tax burden. My guest is Annette Nellen, Tax Professor and Director of the Graduate Tax Program at San Jose State University. This is part two of our conversation. You can hear Part 1 at news-in-context-dot-net. Professor Nellen also writes the Blog 21st Century Taxation. For more information on the topics discussed in this episode and Pt. 2, check out these resources: Treasury Resources on Taxes and Society https://www.treasury.gov/resource-center/faqs/taxes/pages/taxes-society.aspx Some information on income distribution: Joint Committee on Taxation,  Present Law And Background On The Taxation Of High Income And High Wealth Taxpayers, 5/10/21 https://www.jct.gov/publications/2021/jcx-24-21/ Chicago Booth Review, Never mind the 1 percent, Let's talk about the 0.01 percent, by Gold https://review.chicagobooth.edu/economics/2017/article/never-mind-1-percent-lets-talk-about-001-percent Links to tax reform hearings on the 117th Congress (and earlier) https://www.sjsu.edu/people/annette.nellen/website/117th-hearings.htm Simpson-Bowles report of 2010 https://www.taxpolicycenter.org/briefing-book/moment-truth-report-national-commission-fiscal-responsibility-and-reform-december-2010 President Bush's Advisory Panel on Federal Tax Reform (2005) (home mortgage deduction proposal is on page 70 of chapters 5 - 7) https://govinfo.library.unt.edu/taxreformpanel/ My 21st Century Taxation website and blog http://www.21stcenturytaxation.com/ http://21stcenturytaxation.blogspot.com/

In this episode, we explore taxes in the US, including how tax policy has evolved and devolved over the course of U-S history, what taxes are meant to be for, and how we can help the general public engage in discussions and decisions involving tax policy. My guest is Annette Nellen - Tax Professor and Director of the Graduate Tax Program at San Jose State University. Professor Nellen also writes the Blog 21st Century Taxation. For more information on the topics discussed in this episode and Pt. 2, check out these resources: Treasury Resources on Taxes and Society https://www.treasury.gov/resource-center/faqs/taxes/pages/taxes-society.aspx Some information on income distribution: Joint Committee on Taxation,  Present Law And Background On The Taxation Of High Income And High Wealth Taxpayers, 5/10/21 https://www.jct.gov/publications/2021/jcx-24-21/ Chicago Booth Review, Never mind the 1 percent, Let's talk about the 0.01 percent, by Gold https://review.chicagobooth.edu/economics/2017/article/never-mind-1-percent-lets-talk-about-001-percent Links to tax reform hearings on the 117th Congress (and earlier) https://www.sjsu.edu/people/annette.nellen/website/117th-hearings.htm Simpson-Bowles report of 2010 https://www.taxpolicycenter.org/briefing-book/moment-truth-report-national-commission-fiscal-responsibility-and-reform-december-2010 President Bush's Advisory Panel on Federal Tax Reform (2005) (home mortgage deduction proposal is on page 70 of chapters 5 - 7) https://govinfo.library.unt.edu/taxreformpanel/ My 21st Century Taxation website and blog http://www.21stcenturytaxation.com/ http://21stcenturytaxation.blogspot.com/

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: Discussion on how to repay any deferred payroll taxes from 2020 Documentation needed for the employee retention credit (ERC) and other COVID-19 payroll tax credits Treatment of other COVID-19 relief including grants and debt cancellation programs What you'll learn in this episode General overview of the deferred payroll taxes (1.20) How self-employed individual and household employers can repay deferred Social Security taxes (4.29) Accrual method employer treatment of the deferred payroll taxes (9.42) ERC and sick leave credit documentation requirements (11.22) Tax treatment of other COVID-19 relief (23.00) AICPA resources Employer retention credit guidance – Collection of resources and guidance on the latest with the ERC Other resources Use Tax Pro Account – Information on how to request Power of Attorney (POA) or Tax Information Authorization (TIA) online COVID Tax Tip 2021-96: How self-employed individuals and household employers repay deferred Social Security tax – Provides information on how these taxpayers can repay the deferred payroll taxes COVID Tax Tip 2021-99: Making payments for deferred tax reported by third party payers – Pointers on how to make payments for deferred payroll tax by third party payers   Note: If your podcast app does not hyperlink to resources, visit https://taxodyssey.libsyn.com to access show notes with direct links. This episode is brought to you by the AICPA's Tax Section, your home base to maintain your professional edge. To learn more about the Tax Section, check out aicpa.org/tax or sign up for a free web tour.

Death and taxes. Both are inevitable and nobody much likes either one. Especially taxes. The system is naturally inefficient and more than a few people of all political persuasions can't help but think that some if not all of that money is just vanishing into thin air.  Fortunately, there are a few out there working to reform the Byzantine mess that is the IRS and the U.S. tax code. One of those brave souls is Annette Nellen. Annette is a professor at San Jose State University and has been on so many boards and received so many awards in the area of taxation and accounting that it would take all the space in this article to list them all. Her most recent article that made a wave or two in tax land advocates for getting rid of the standard April 15 due date.  This in part has to do with the previously mentioned inefficiency of the current system. Given that all of your tax data is collected digitally and then digitally deposited in your account, why do you have to deal with a bunch of cumbersome paper forms, or digital forms that duplicate them, and then send in your tax return, most likely digitally? Wouldn't it be a lot easier for most people if the IRS just sent you your return? No forms, no waiting, no glitches that lose your return in the mail, they just calculate what you owe and send it to you. Unless you are self-employed or make a lot of charitable donations this system should work very well.  Some object that they really don't trust the IRS will their data. The truth is though that they have it already. That's precisely why the direct return would work. However, Annette has some ideas that would make the situation more palatable.  First and foremost, all of your data would go into your own unique cloud. This would work whether you work at Starbucks or run a public benefit data management and protection company. That way, you could sync different incomes, donations, accounts, and the software to process it all in one place. The big benefit would be that you could even set the system to process a return for you on your own timetable. It wouldn't change the total, just when you get it. Or, a person could adjust their various exemptions on the fly if they want to tweak their taxes so that they are only ever paying in exactly what they are required to, eliminating the need for a return at all.  This could be especially beneficial for those who are self-employed. One of the hazards of working for yourself is hoping you don't wind up owing a massive amount at the end of the year. Many just set aside money out of their income for that specific purpose. The system Annette proposes would allow the self-employed to pay throughout the year.  This brings up a question if this would work so well, what is the real hold up? In a word – technology. Not that the technology doesn't exist. Rather, the IRS and government, in general, doesn't have it yet. Government agencies tend to lag very far behind in the technology department. There are a lot of reasons for that, but you can also be sure that it will change in the years to come. As the professor observes, the generation currently in college is growing up largely technology dependent. They live in a world where people don't use cash, or even a card, they just pay with their phones and call it a day. As they move up the ranks in the private and public sector, the need for the technology even in the most backward of government warehouses will need to catch up.  All of this is just the beginning of course. There are a lot of issues with our current system and many things that could be done to reform it. Until then, make sure your taxes are in on time. What are your taxes worth? www.tartle.co   Tcast is brought to you by TARTLE. A global personal data marketplace that allows users to sell their personal information anonymously when they want to, while allowing buyers to access clean ready to analyze data sets on digital identities from all across the globe.   The show is hosted by Co-Founder and Source Data Pioneer Alexander McCaig and Head of Conscious Marketing Jason Rigby.   What's your data worth?   Find out at: https://tartle.co/   YouTube: https://www.youtube.com/c/TARTLE   Facebook: https://www.facebook.com/TARTLEofficial/   Instagram: https://www.instagram.com/tartle_official/   Twitter: https://twitter.com/TARTLEofficial   Spread the word!

The Accidental Geographer's Vincent del Casino speaks with Professor and director of San José State University's graduate tax program, Annette Nellen. In this conversation, we cover a variety of topics related to the history of taxes and why certain taxes exist in the United States. Nellen challenges the current tax system with her research and outreach and raises a number of important questions about what a more fair tax system might look like. Credit: Music by Lucas Schwyter / SJSU Music Department; soundcloud.com/schweetbeatz

In this episode, we seek to make sense of the recent New York Times articles about the President’s tax returns. We also explore the U.S. tax system - in particular who benefits, who doesn’t, and how the tax code reflects and doesn’t reflect our goals and priorities.My guests are Annette Nellen, professor in taxation at San Jose State University, and Matthew Gardner, Senior Fellow at the Institute on Taxation and Economic Policy.

In the world of tax law, words have statutorily set definitions or are interpreted by judges using precedent and reason. Annette Nellen, Esq., CPA, CGMA, walks us through four recent decisions by the U.S. Tax Court to show how the precise application of a word or phrase can make a world of difference.

American workers are cashing in on their side hustle, picking up small jobs through Task Rabbit, driving for Lyft, or selling jewelry on Etsy. But they owe taxes on that work. And many of these self-employed workers are under-reporting their income to the IRS. It’s contributing to an estimated $450 billion tax gap. Annette Nellen, who directs the graduate tax program at San Jose State University, spoke with Bloomberg Tax reporter Amanda Iacone about how the gig economy is changing the tax landscape and the challenges facing both workers and preparers.

In this episode, Damien Martin shares his career journey to becoming National Tax Assistant Director at BKD.  He began his career as a music major at UC Berkeley, before going on to finish his Masters in Taxation at Golden Gate University. Before becoming a director at BKD, he cultivated an expertise in working with high-net worth individuals on estate planning. In this episode you will learn, 1. Why Damien chose tax as his focus in accounting 2. How he is positioning his firm as a place of value as tax filing becomes more automated Resources mentioned: 1. Damien's LinkedIn 2. Annette Nellen 3. Damien's Twitter 4. Simply Tax podcast 5. Trusted Advisor by David Maister   This episode is brought to you by Money & Mimosas.

Parts of the Tax Cuts and Jobs Act (TCJA) limit some taxpayers’ ability to deduct their state and local taxes (SALT) for the next seven tax years. Tax professor Annette Nellen provides some background on this temporary limitation and breaks down the efforts several states are undertaking to provide relief to their residents. TIME STAMPS OF WHAT’S COVERED [4:16] Annette’s overview of the objectives and process of enacting the TCJA [8:41] Some local and state officials talk of dire consequences [9:30] How to tell if you’re a net winner or loser under the TCJA [12:23] The cap on the SALT deduction explained [13:21] The state reaction to the cap [15:11] What’s important to know if you itemize [17:54] Are the SALT workarounds too good to be true? [21:26] What does previously issued informal guidance from the IRS say? [24:35] Recent IRS notice 2018-84 and the substance-over-form principle [26:58] Risks and what to look at when evaluating your options [30:01] What other types of workarounds have been introduced? [36:19] The importance of understanding what’s on your tax return and your full tax picture [38:15] Sense of bewilderment on how to approach the federal and state changes [39:39] What else Annette’s looking for BIO FOR GUEST Annette Nellen is a professor of accounting and finance and director of the SJSU Graduate Tax Program. Prior to joining SJSU, she was with a tax manager with Ernst & Young and an IRS revenue agent and lead instructor. Annette has testified before the U.S. House Ways and Means Committee, U.S. Senate Finance Committee, California Assembly Revenue and Taxation Committee and tax reform commissions and committees on various aspects of federal and state tax reform. Connect with Annette on LinkedIn Follow Annette on Twitter Annette’s blog: 21st Century Taxation GET MORE SIMPLY TAX A complete archive of our episodes is available on our website and YouTube playlist. We’d love to hear from you! Email feedback and questions we can help answer to SimplyTax@BKD.com Connect with Damien on social media: LinkedIn | Twitter

Parts of the Tax Cuts and Jobs Act (TCJA) limit some taxpayers' ability to deduct their state and local taxes (SALT) for the next seven tax years. Tax professor Annette Nellen provides some background on this temporary limitation and breaks down the efforts several states are undertaking to provide relief to their residents. TIME STAMPS OF WHAT'S COVERED [4:16] Annette's overview of the objectives and process of enacting the TCJA [8:41] Some local and state officials talk of dire consequences [9:30] How to tell if you're a net winner or loser under the TCJA [12:23] The cap on the SALT deduction explained [13:21] The state reaction to the cap [15:11] What's important to know if you itemize [17:54] Are the SALT workarounds too good to be true? [21:26] What does previously issued informal guidance from the IRS say? [24:35] Recent IRS notice 2018-84 and the substance-over-form principle [26:58] Risks and what to look at when evaluating your options [30:01] What other types of workarounds have been introduced? [36:19] The importance of understanding what's on your tax return and your full tax picture [38:15] Sense of bewilderment on how to approach the federal and state changes [39:39] What else Annette's looking for BIO FOR GUEST Annette Nellen is a professor of accounting and finance and director of the SJSU Graduate Tax Program. Prior to joining SJSU, she was with a tax manager with Ernst & Young and an IRS revenue agent and lead instructor. Annette has testified before the U.S. House Ways and Means Committee, U.S. Senate Finance Committee, California Assembly Revenue and Taxation Committee and tax reform commissions and committees on various aspects of federal and state tax reform. Connect with Annette on LinkedIn Follow Annette on Twitter Annette's blog: 21st Century Taxation GET MORE SIMPLY TAX A complete archive of our episodes is available on our website and YouTube playlist. We'd love to hear from you! Email feedback and questions we can help answer to SimplyTax@BKD.com Connect with Damien on social media: LinkedIn | Twitter

In this episode, Annette Nellen, walks us through the guiding principles that should govern an objective tax policy. One that stimulates economic growth. Professor Annette Nellen, CPA, CGMA, Esq. is the chair of the AICPA tax committee, a professor at San Jose State University, and the writer behind the 21st Century Taxation blog. She is an expert in tax policy, and how to modernize the tax system to accurately reflect the way we conduct business in present day. Annette has testified before the House Ways and Means Committee, Senate Finance Committee, Senate Small Business and Entrepreneurship Committee, California Assembly Revenue & Taxation Committee, and tax reform commissions and committees on various aspects of federal and state tax reform.  This episode is brought to you by Avalara.