Self-Study: From Complexity to Clarity: Practical IRS Strategies for Tax Pros

Overview

Tim Dreyer, a seasoned tax consultant with 50 years of experience, explores the evolving federal tax landscape as the TCJA approaches expiration. He discusses IRS enforcement shifts toward high-income individuals, small businesses, and crypto, critiques proposals like the Fair Tax Act, and reviews legislative efforts to streamline reporting and enhance taxpayer rights. Dreyer also highlights key risks for preparers under proposed Circular 230 revisions and strengthened disclosure requirements.

Highlights

• automation for accountants
• ethical decision making
• emerging technology trends
• artificial intelligence in accounting

Objectives

• Identify significant legislative and regulatory developments shaping the federal tax landscape, including the expiration of the TCJA and proposed reforms like the Fair Tax Act.
• Recognize shifting IRS enforcement priorities, particularly increased scrutiny of high — income individuals, small businesses, and cryptocurrency transactions.
• Evaluate the implications of proposed Circular 230 revisions, including expanded definitions of disreputable conduct and new requirements for preparer compliance and disclosures.
• Assess the operational and ethical risks tax professionals face amid evolving IRS procedures, taxpayer service goals, and automation trends.