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What To Know About The Not-So-Usual 2025 Tax Season

On this first episode of the Forbes Tax Breaks Podcast, Forbes Senior Writer and tax attorney Kelly Phillips Erb discusses the implications of the Trump administration's policies on the 2025 tax season. She highlights potential challenges due to hiring freezes and policy changes, and explores the impact on international taxation and foreign relations. Additionally, we answer a taxpayer question about the tax implications of child support and alimony. And we end by testing your knowledge of tax history. Subscribe to the Tax Breaks Newslette herer: https://www.forbes.com/sites/kellyphi... 00:00 Introduction 00:44 The Impact of Donald Trump Executive Actions 07:48 Supreme Court Puts Business Ownership Reporting Block On Hold 10:30 Taxpayer Q&A 11:52 Tax Stats And Updates 14:53 Tax Industry Updates 16:40 Tax Trivia 17:56 Outro SHOW NOTES: Werfel’s Last Day: https://www.forbes.com/sites/kellyphi... Long’s nomination: https://www.forbes.com/sites/kellyphi... Executive order hiring freeze: https://www.forbes.com/sites/kellyphi... Tax season open: https://www.forbes.com/sites/kellyphi... Executive order trade: https://www.forbes.com/sites/kellyphi... Executive order birthright: https://www.forbes.com/sites/darrenca... Supreme Court CTA: https://www.forbes.com/sites/kellyphi... FinCEN: https://www.fincen.gov/boi Tax Notes transcript: https://www.forbes.com/sites/taxnotes... Foreign gifts https://www.forbes.com/sites/virginia... Subscribe to FORBES: https://www.youtube.com/user/Forbes?s... Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more: https://account.forbes.com/membership... Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter:   / forbes   Forbes Video on Instagram:   / forbes   More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.