Tax Section Odyssey

Latest Episodes:

Section 351 ETF conversions: Understanding the IRS warning Oct 23, 2026

Show notes

In this joint episode with the Personal Financial Planning (PFP) Section podcast, host Cary Sinnett discusses recent IRS communications around certain exchange-traded fund (ETF)- based diversification strategies with Robert Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA.

Sec. 351 ETF contributions may be permissible, but rapid redemptions for diversified securities may be taxable under the step-transaction doctrine. Timing, prearranged plans, marketing and communications are key.

Practitioners should review completed and pending transactions, documentation, reporting, disclosure, privilege, and penalty protection, coordinating with investment advisers and tax counsel as appropriate.

Questions answered in this episode:

What is a Sec. 351 ETF strategy, and why is the IRS scrutinizing it?
When could the strategy become taxable under the step-transaction doctrine?
Which factors distinguish legitimate planning from a prearranged taxable exchange?
What should advisors and clients do about pending or completed transactions?

AICPA resources

Section 351 Resource

IRS resources

IRS Notice 2026-62

Revenue Ruling 2026-20

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 prep starts now: Engagement Letters, client fit and smarter risk Management Oct 16, 2026

Show notes

Filing season risk starts well before the first return is prepared. In this episode, April Walker talks with Sarah Ference, CPA, Risk Control Director at CNA, about how thoughtful client selection, clear engagement letters and proactive communication can help firms set expectations, manage scope creep and reduce risk. Learn practical steps you can take now to build stronger client relationships — and a smoother filing season.

Why should engagement letters be viewed as client relationship tools — not simply legal documents?
How can firms clearly define the scope of tax services and prevent "one quick question" from becoming scope creep
When and how should practitioners document informal advice and client conversations?
What factors should firms consider when deciding whether to retain, rehabilitate or disengage from a client?
What practical steps can firms take now to reduce risk and prepare for a smoother filing season?

AICPA resources

Reimagining Your Tax Practice

Annual Tax Compliance Kit

Private Companies Practice Section (PCPS) homepage

The economy, AI and what's ahead for tax practitioners Oct 15, 2026

Show notes

Economist Dr. Anirban Basu, founder of Sage Policy Group and keynote speaker at the National Tax Conference (NTC) joins Neil Amato, host of the Journal of Accountancy (JofA) podcast, for a wide-ranging conversation about the forces shaping today's economy and what they could mean for tax practitioners and their clients. From inflation, interest rates and the labor market to artificial intelligence (AI) and the nation's fiscal challenges, Dr. Basu offers perspective on navigating an economy where the headlines don't always tell the whole story.

Questions answered in this episode:

What economic trends should tax practitioners be watching right now?
How do economic conditions affect tax practitioners and their clients?
Why is the economy difficult to characterize as simply either "good" or "bad?"
How is AI changing professional work and where does human judgement still matter?
What could today's national debt and fiscal challenges mean for the tax system in the years ahead?

Join us live or online at the 2026 NTC and hear Dr. Basu deliver his keynote titled First Brood.

Turning technology gains into client value Aug 27, 2026

Show notes

Brian Davis, owner of One Stop CPA, returns to the Tax Section Odyssey podcast to discuss how technology can create capacity for more intentional advisory services. He shares lessons about building an advisory-first firm, including how to identify the right clients, package value beyond compliance and use practical tools to support better client conversations.

Questions answered in this episode:

· How can technology create capacity for more meaningful advisory work?

· What does an advisory-first tax practice look like in practice?

· How can practitioners uncover advisory opportunities within their existing client base?

· Why does client fit matter when building an advisory-focused firm?

· How can AI tools support better tax planning and client conversations?

Join us live at the 2026 National Tax Conference and hear Brian speak at the From AI Hype to Practical Adoption: Tools that Can Transform Tax Practice pre-conference workshop

AICPA resources

· Brian Davis Podcast

· Leveraging technology for a better client experience | Tax Section Odyssey podcast

From Timesheets to Trusted Advisor Jul 31, 2026

Show notes

On this episode, April Walker is joined by Benjamin Alarie, CEO and co-founder of Blue J, to discuss the ways that artificial intelligence (AI) is changing tax practice – not only by accelerating research and compliance work, but also by reshaping how firms define and deliver value.

Ben shares new research showing widespread AI adoption among tax professionals and how firms are using the resulting time savings to improve client service, strengthen work-life balance and focus on higher value advisory work. The discussion explores whether the traditional billable hour model still makes sense when technology can dramatically reduce time spent on technical tasks.

Together, April and Ben also examine the IRS Office of Professional Responsibility's (OPR) preliminary guidelines on responsible AI use and why professional judgement, due diligence and client trust remain essential in an AI-enabled profession.

Questions answered in this episode:

How quickly are tax professionals adopting AI based on the most recent CPA.com/Blue J survey and what are they using it for?
If AI can potentially provide research results in minutes instead of hours, how could this affect how firms think about pricing their services?
What does the IRS Office of Professional Responsibility's guidelines on responsible AI use mean for tax practitioners?
How can firms use AI to improve client service while maintaining professional responsibility and quality?

**Blue J's AI-powered tax research delivers instant, reliable insights grounded in primary authority, Tax Notes, and IBFD — so you can focus on applying your judgment where it matters most. Start your free trial today.

AICPA resources

AICPA insights: Introductory guidelines for responsible AI use in federal tax practice

2026 AI Tax Research Solution Outlook Report by CPA.com and Blue J

Artificial Intelligence (AI) Tax Research Center

Statements on Standards for Tax Services (SSTSs)

Treasury Department Circular No. 230

Tax noise vs. reality: IRS insights & practitioner perspectives Jun 26, 2026

Show notes

In this episode of the Tax Section Odyssey podcast, April Walker is joined by former IRS Communications Chief Terry Lemons, Public Relations Director — Frost Law, and Kelly Phillips Erb (Taxgirl), Senior Writer — Forbes, about what tax professionals should understand about the IRS, the media and today's fast-moving tax information environment. Their conversation explores IRS complexity, why tax stories matter, how misinformation spreads, the role of artificial intelligence (AI) and social media and why practitioners remain essential trusted guides for taxpayers.

Questions answered in this episode:

What do IRS employees wish tax practitioners better understood about the agency
What makes a tax story newsworthy from a media perspective?
How can practitioners help clients sort through tax myths and misinformation?
What role are AI and social media playing in spreading — and correcting — tax information?
Why are tax professionals especially important in today's complex and noisy tax environment?

AICPA resources

IRS Practice & Procedures

Contacting the IRS FAQs

Best Practices for Written Communication with the IRS | Webcasts | AICPA & CIMA

Beyond the script: Improv for advisory confidence May 22, 2026

Show notes

In this episode of the Tax Section Odyssey podcast, host April Walker talks with Jennifer Dymond, founder and CEO of Spire Consulting Services, about how improv techniques can help tax practitioners build stronger client communication and greater advisory confidence. Their conversation explores how skills like active listening, curiosity, flexibility and staying present can help practitioners move beyond scripted compliance conversations and into more effective, collaborative advisory discussions.

Questions answered in this episode:

What does improv actually mean in a professional setting?
Why do tax practitioners often feel comfortable with compliance work but less confident in advisory conversations?
How can the "yes, and" mindset improve listening, responsiveness, and client relationships?
What should you do when a client seems disengaged, resistant, or not ready to collaborate?
What practical questions or exercises can tax practitioners use to build stronger advisory communication skills?

AICPA resources

There is still time to register for the ENGAGE conference, coming up June 8 -11 in Las Vegas, NV. Dymond's referenced session is on Tuesday, June 9 at 4:10pm PT.

Reimagining your tax practice – Register for roundtables and watch prior recordings

Focused CPE for Tax Section members

Out of deadline mode: A post tax season reset May 07, 2026

Show notes

After deadline season, it's tempting to move on and forget what didn't work — but this is the best time to make changes while the lessons are still fresh.

In this episode, April Walker is joined by Nancy McClelland, owner of The Dancing Accountant, to discuss small, realistic practice changes that can dramatically reduce tax-season stress. From shifting annual tasks to year‑round workflows and setting clear client expectations to using technology that streamlines document collection and follow-up, Nancy shares practical strategies that help tax pros protect their time, teams and sanity — without overhauling everything at once.

Questions answered in this episode:

What's one practical change you can make right now that will noticeably improve next tax season?
How can shifting "annual" work to monthly or year‑round workflows reduce deadline-season pressure?
What are effective ways to set client expectations and boundaries — without damaging the relationship?
How can technology reduce document-chaos, missing information and the constant chase for "one last form"?
How do you define (and refine) your ideal client profile so you're working with clients you actually enjoy?

AICPA resources

ENGAGE 2026 conference session: How to Align Your Bookkeeper and Tax Accountant for Financial Success

Optimizing your tax practice

Reimagining your tax practice

Tax Communities on Engage365

Other resources

She Counts

Ask a CPA - Nancy's YouTube channel

Protective claims, client alerts and Kwong: A practitioner playbook Apr 30, 2026

Show notes

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

AICPA experts discuss minimum standards for tax preparers Mar 18, 2026

Show notes

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

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