IRS Enforcement June 2022: Trust Funds, Crypto, and Foreign Assets

Jun 8, 2022

In this week’s episode of the TRN Podcast, I review the latest enforcement update, which comes straight from the IRS SB/SE Commissioner. Specifically, I discuss how the service will focus on where the unpaid payroll taxes went, as well as the undeclared assets in collection cases around crypto-currency and foreign assets.

If you’re in the tax industry, and I suspect you are since you’ve landed on this page, you’re definitely going to want to tune in to this special episode. As previously mentioned, other topics discussed throughout include trust funds, crypto, and foreign assets.

Recently, there have been many changes applied to the industry. It’s necessary to not only be aware of these changes, but understand what they mean and how they could possibly affect your business. That is my ultimate goal: to supply you with all the necessary information to run your tax business most effectively.

Episode 125 of the TRN Podcast is available now!

Additionally, here are a few important reminders to note:

The 6^th Annual Criminal Tax Conference is scheduled for 6/10. You can conveniently catch it live, in-person, or via live webcast.

https://irsrepconference.com/criminal-tax-day-2022/

Don’t forget to join us on 6/14 to learn how to resolve tax liens and tax levies—and, most importantly, make money while doing so! I guarantee you don’t want to miss this exclusive opportunity.

https://taxrepllc.com/program-20220614-liens-levies/

Entrepreneurship with Nellie Akalp, Founder of CorpNet

Apr 21, 2022

On this week’s episode of the Tax Rep Network Podcast, I’m thrilled to be joined by a very special friend, Nellie Akalp, the founder and CEO of CorpNet. Through CorpNet, Nellie and her team provide comprehensive, cost-effective services to anyone who is forming a corporation or an LLC, starting a business as a sole proprietorship or a partnership, as well as those who already have clients in an existing business entity. Additionally, she assists with business filings, expanding into different states, navigating state tax registrations, and so much more!

Now, if you’ve been listening, it’s not a closely-guarded secret that Nellie and myself have been scheming to roll out an entire series of talks on everything professionals need to know about legal entities, including choice of entity, formation, operation, mergers, acquisitions, sales, and dissolutions, along with everything in-between, like state registration, sales tax issues, etc.

Today’s chat was supposed to cover the opening volley for this lineup. Yet, as it’s so easy to do, Nellie and I find ourselves going down the entrepreneurship rabbit hole, resulting in an unplanned, yet still fun and informative, discussion.

Listen in and enjoy what is only the first of this spectacular summer series! Episode #124 of the Tax Rep Network is available now!

Interested in checking out CorpNet’s Partnership program? Click here: https://www.corpnet.com/partners/

You can connect with Nellie by clicking here: https://www.linkedin.com/in/nellieakalp/

Authenticity Sells with Jina Etienne

Apr 18, 2022

This week, I’m thrilled to welcome Jina Etienne to the Tax Rep Network Podcast. For those listeners who are unfamiliar with Jina, her background is quite impressive! She is a CPA and D&I consultant, speaker, and trainer. Additionally, Jina is a storyteller and draws from her unique background and mix of work experiences to offer examples and share insights designed to increase both awareness and appreciation for the benefits of being your authentic self.

Now more than ever before, it’s important to be your authentic self. However, Jina shares an interesting side to this point: While being your authentic self, it’s also necessary to adapt yourself for specific situations. For example, you may be a slightly different version of yourself when having dinner with a friend versus having dinner with a client. This doesn’t mean you’re covering, hiding, or pretending, but simply properly adapting to your surroundings.

I guarantee you don’t want to miss our chat. Listen in on this fascinating conversation and learn how you can be yourself, which can lead to an increase in sales and client connections.

Are you interested in connecting with Jina one-on-one? If so, just click here: https://www.etienneconsulting.com/

Episode #123 of the Tax Rep Network Podcast is available now!

Building a Saleable Accounting Practice with Sharrin Fuller

Apr 4, 2022

Joining me on this week’s episode of the Tax Rep Network Podcast is Sharrin Fuller. Sharrin is the CEO and founder of Glass Wallet Ventures, as well as a managing partner in multiple accounting and financial service businesses, including A Simple Office Solution.

After successfully starting her own virtual practice, she scaled and sold it! Sharrin developed the Remote Firm Scaling System and Remote Team Roadmap to help accounting firms position themselves for growth and eventual acquisition, with maximum productivity from their teams.

Today, Sharrin and I chat about virtual practices and how to set yourself up to eventually sell your practice and maximize your assets. To start the conversation, though, Sharrin describes how she got into the accounting industry—and it’s pretty interesting!

After deciding she didn’t want to spend eight years in college in order to become a lawyer or psychologist, she started managing companies, which she enjoyed. Then, she got her nail license and bought a salon, describing herself as a “jewel of all trades.” From there, she learned about accounting, handling her own QuickBooks®, understanding payroll taxes, liability, workers compensation, and more.

If you want to find out what Sharrin did next, you’ll have to listen to the podcast! Good news: Episode #122 of the Tax Rep Network Podcast is out now!

Are you interested in getting in touch with Sharrin? You can find her here: https://glasswalletventures.com/

Eric and Seth Fineberg on the AccountingWeb Live Summit

Mar 23, 2022

On this week’s episode of the Tax Rep Network Podcast, I’m joined by AccountingWeb’s Managing Editor, Seth Fineberg. Seth and I chat about the upcoming summit, which takes place in San Diego from May 9th to May 12th. I’m happy to share that I’ll speak on multiple panels, including Criminal Tax with Deputy Chief Robnett and Enforcement with SB/SE Commissioner, Darren Guillot.

For those listening who may be unfamiliar with the summit, Seth gives the rundown, stating: “AccountingWEB itself is really an online resource, a site for practical and useful information for accounting professionals. We have folks who only do tax, we have folks whose core focus is on bookkeeping, and then we have others who are doing it all. They do tax, advisory, the books. They’re helping run small businesses, and they’re doing everything in between. So, compliance, advisory, and everything in the middle. We’re really at a time in the profession where this is the type of information that is needed the most.”

If you’re interested in learning more about the AccountingWeb Live Summit, don’t miss episode 121 of the TRN Podcast—out now! Additionally, I have a special deal for all Tax Rep Network members. I’m hosting an exclusive dinner on May 10^th to introduce my marketing gurus!

Want to check out the conference? Click here: https://www.accountingweblivesummit.com/. Use discount code TRN25 to save 25 percent!

The Life Cycle of a Criminal Case with Gwen Moore and Ajay Gupta

Feb 14, 2022

On this week’s episode of the Tax Rep Network Podcast, Eric Green is joined by Gwen Moore and Ajay Gupta to discuss how a criminal tax case works, from referral to sentencing. There are myriad misunderstandings regarding this topic, leading to this necessary and important conversation.

In case you haven’t been listening to the podcast lately, Gwen is a friend of Eric’s who hosts the podcast from time to time. She has her own firm in Chicago, the Moore Firm, where she does civil and criminal tax controversy. Ajay is of council with Gwen’s firm, doing everything from tax planning in Silicon Valley to being an assistant United States attorney, prosecuting tax cases.

To open the conversation, Eric shares a vital fact that all taxpayers need to understand: when IRS special agents now have a case, they’re not looking to collect money, they’re not looking to just clarify something. When they come out and knock on a door, it is because they believe they have enough evidence that a crime was committed, and now they’re going to see if they can get more information. Specifically, they’re there to try to get a conviction.

Eric then segues into the classification of a criminal case and the various circumstances, receiving assistance and expert knowledge from Ajay.

Interested in learning more? You can listen to the full episode of the Tax Rep Network Podcast now! Additionally, if you’d like to contact Gwen or Ajay, their information is:

Guinevere Moore: guinevere.moore@mooretaxlawgroup.com

Ajay Gupta: ajay.gupta@mooretaxlawgroup.com

Mad at the IRS? Blame Congress

Jan 31, 2022

In this special episode of the TRN Podcast, Eric is joined by Gwen Moore from the Moore Firm in Chicago. Previous listeners will already be familiar with Gwen, as she has filled in for Eric as a guest host. However, today’s hot topic has left Eric wanting to switch things up a bit, inviting Gwen on as a guest speaker instead of a guest host.

Their discussion revolves around the IRS, Congress, and the headaches many taxpayers are currently experiencing. Specifically, the IRS has been—and remains to be—plagued with massive backlogs of mail and returns that have not been processed, resulting in callers receiving hold times on the phone measured in hours—not minutes—as well as a grinding enforcement machine that continues unabated.

As a contributing columnist at Forbes, Gwen recently wrote an article that sheds light on these ongoing IRS issues. She and Eric chat about her article, the faults of Congress, and what they each think of the Congressional announcement made regarding the call for the IRS to hold off on enforcement.

The latest episode of the TRN Podcast is available now. Give it a listen! If you would like to contact Gwen, she can be found trying to save taxpayers here: https://www.mooretaxlawgroup.com/attorney/moore-guinevere-m/

Automate Everything with Andrew Lassise

Jan 27, 2022

On this new episode of the Tax Rep Podcast, Eric is joined by a very special guest: Andrew Lassise. It’s likely that many of you already know Andrew, as he has his own popular podcast, Tech Talk for Accountants Show. In fact, it was through this podcast that Eric and Andrew first met, ultimately leading to today’s chat, which includes a variety of topics, such as how to make money by leveraging technology, scaling your enterprise so it’s no longer a ‘practice’ but a ‘business’ that you work on instead of work in, and streamlining your operation.

Eric chose the theme of automation because tax season is upon us, and it’s important for all tax professionals to get their arms around their practice. In order to do this, Eric first recommends that you rank your clients. Next, get rid of all clients you’ve given a D or F grade. Then, raise your prices so that you are making what you should be making.

In short, do less work, have fewer headaches, but earn more money!

Remember, you control your calendar, meaning you—and only you—can effectively put the system in place to do what you need to do. If you don’t want to work until midnight, don’t work until midnight. Sound good?

Don’t miss Eric and Andrew’s full conversation on automation. Episode #118 of the Tax Rep Podcast is available now!

Want to connect with Andrew? Check out https://tech4accountants.net

Keep Your World Small

Dec 28, 2021

On this week’s episode of the Tax Rep Network Podcast, Eric Green is joined by former Navy SEAL, Steven Just. Interestingly enough, Eric seems to know many former Navy SEALs, and a popular concept he has heard from more than one of them is the idea of keeping your world small.

This concept has struck deep for Eric. For starters, it makes complete common sense. Secondly, this is a concept many people struggle with because they can’t keep their world small. Finally, this is timely advice. It’s easy these days to become overwhelmed: law changes, client issues, marketing frustrations, family challenges, politics, news, COVID.

Eric has spoken out before about the need to focus on what is directly in front of you, ultimately allowing you to keep your world small. Today, that discussion continues. And, who better to join him for the chat than Steven Just, who also firmly believes in keeping your world small?

The two connect this notion to the success of your practice. Further, Steven explains what it exactly means to keep your world small, why the concept works in all facets of life, and how you can put this to work for you.

Want to learn more? Listen to the full episode of the TRN Podcast—available now!

What To Do with Your 1040 Practice RIGHT NOW

Dec 6, 2021

The latest episode of the Tax Rep Network Podcast is a little different than what viewers may be used to hearing. For starters, Eric Green doesn’t have a guest this time.

He starts by discussing the Vegas conference, which is right around the corner! Good news for those who are unable to attend in person: the conference has officially been opened for remote access, meaning you can easily and conveniently stream the two-day event from the comfort of your own home.

In preparing for Vegas, Eric has received myriad questions regarding tax season. As those in the industry already know, the previous two tax seasons have been particularly difficult. This is what prompted this week’s short, but sweet, episode.

Eric lays it out quick and simple: life is too short; we’re all going to die. Given the limited amount of time everyone has, he recommends doing the things you love—even in regards to your business. Specifically, he recommends going through your client list and rating each client with a letter: A – F. Clients that you don’t really want to work with, aren’t paying you enough, or are just jerks, should be given a D or an F. Then, send those clients a nice, formal letter indicating that you will no longer be able to service their account going forward.

Why? Life is too short!

If you’d like to listen to the full episode of the TRN Podcast, click here! It’s available now.

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