Special edition: Update on recent tax legislation | Tax Section Odyssey
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Special edition: Update on recent tax legislation | Tax Section Odyssey

2 months ago · 7 min listen

Explore the tax universe.

Subscribe to the Tax Section Odyssey podcast series wherever you listen to your podcasts and check out our library of past episodes.

In this episode

The Infrastructure Investment and Jobs Act was approved in the House of Representatives on Nov. 5, 2021 and is headed to President Joe Biden's desk to be signed into law. The House passed the legislation by a 228–206 vote after it passed the Senate by a 69–30 vote in August.

In this Tax Section Odyssey episode, April Walker, CPA, CGMA, from the AICPA Tax Section, highlights major tax-related items contained in the bill and shares several resources available for practitioners to navigate the provisions.

What you’ll learn in this episode

  • Status of the enactment of the Infrastructure Investment and Jobs Act (0.25)

  • Early termination of the employee retention credit (ERC) (0.56)

  • Cryptocurrency reporting (1.58)

  • Build Back Better Act legislation status and related resources (3.30)

  • Additional AICPA year-end resources (4.31)

AICPA resources

  • Year-End Tax Planning Letter for Individual Clients — Use this letter template to get the conversations started with your individual tax clients to help them take a fresh look at their current and future financial health.

  • Year-End Tax Planning Letter for Small Business Clients — This small business client letter template provides a handy list of key considerations for this year that your clients need to factor in for next year and a jumping off point for them to contact you as their tax and financial planning adviser.

  • 2021 Tax Year in Review Presentation for Clients — A presentation to use as a touchpoint with your clients to update them on various tax law changes and year-end reminders and encourage them to talk with you about their long-term financial plans. This template also works as a starting point for presentations to networking groups, rotary clubs, chambers of commerce and many other groups.

  • CPA Marketing Toolkit — A toolkit to help you communicate with prospects and clients throughout your career to help you demonstrate your strength as a trusted adviser, assisting with all aspects of your clients’ financial situations.

  • Build Back Better Act: Where we are now — Recorded on Nov. 8, 2021, Bob Keebler, CPA/PFS, reports on the latest with the Build Back Better Act. Bob will also be speaking on a related webcast on Nov. 17, 2021.

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, 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 more.

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