What happens when tax enforcement weakens? With 17% of millennials considering skipping their tax filing altogether, Blake and David dig into how IRS budget cuts might impact compliance and revenue. They analyze fascinating survey data revealing what taxpayers truly value when choosing between professional preparation and free options like Direct File. Plus, discover the accounting scandal forcing Financial Times to retract its Tesla analysis, exposing how GAAP complexity confounds even financial experts. You'll also learn why three major US cities face billion-dollar budget holes and the disturbing revelation that duplicate Medicaid payments are costing taxpayers billions—all while Tether still can't produce an audit after ten years of promises.
Sponsors
Bluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.)
RightWorks- http://accountingpodcast.promo/rightnow2025
Show Notes
Tax Revenue Could Drop by 10 Percent Amid Turmoil at IRS
https://www.washingtonpost.com/business/2025/03/22/irs-tax-revenue-loss-federal-budget/
Survey: Some Americans Might Roll the Dice on Not Filing Their Taxes This Year Due to IRS Job Cuts
Most Americans Are Interested in Using IRS Direct File to Prepare and File Their Taxes
TurboTax vs Free Tax USA: A Shocking Price Comparison
https://www.tiktok.com/@carolinesadventure/video/7482613418801859870
Survey: 91% of Americans Think Filing Taxes Should Be Free
Why you should think twice before claiming an income-tax extension. ‘This is not the year to do your normal procrastinating.’
LA Faces $1 Billion Budget Hole, Warns of Thousands of Layoffs
WSJ investigation: Medicaid paid health insurers billions by covering the same patients twice
Tether seeks Big Four firm for its first full financial audit — Report
https://cointelegraph.com/news/stablecoin-issuer-tether-big-four-firm-full-reserve-audit-report
Financial Times retracts report on Tesla’s alleged shady accounting
https://www.teslarati.com/financial-times-retracts-report-tesla-shady-accounting/
The Big 4 Transparency Accounting Awards
https://big4transparency.beehiiv.com/p/the-big-4-transparency-accounting-awards
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Blake and David dive straight into the headlines, starting with the controversial IRS workforce cuts and their potential impact on tax collections. They examine corporate espionage allegations between payroll companies Rippling and Deel, including a complex web of legal battles, Russian connections, and political involvement, and go on to discuss how AI is rapidly improving at handling longer tasks. All this and much more, right now!
Sponsors
RightWorks- http://accountingpodcast.promo/rightnow2025
Bluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.)
Show Notes
7,000 IRS workers ‘reinstated’ — but not yet returning to work
IRS Retreats From Some Audits as Agency Slashes Workforce
https://www.wsj.com/politics/policy/internal-revenue-service-doge-taxes-f00ac956
Opinion | With IRS cuts, DOGE would lose far more money ...
https://www.washingtonpost.com/opinions/2025/03/13/doge-irs-cuts-tax-revenue/
Former Defense Contractor and his Wife Indicted for Evading U.S. Taxes on Profits from Selling Jet Fuel to the U.S. Military
https://www.irs.gov/pub/irs-ci/j5-media-release-7-3-2024.pdf
Lawsuit Alleges $12 Billion "Unicorn" Deel Cultivated Spy, Orchestrated Long-Running Trade-Secret Theft & Corporate Espionage Against Competitor
IRS in Crisis: Tax Professionals Bear the Brunt
https://cpatrendlines.com/2019/02/26/taxpayer-advocate-lambastes-irs/
Measuring AI Ability to Complete Long Tasks
https://metr.org/blog/2025-03-19-measuring-ai-ability-to-complete-long-tasks/
Earmark Podcast – Ep. 87 - How to Use AI to Analyze Data and Draft Financial Reports in Minutes
https://share.transistor.fm/s/c86818f5
Earmark’s Screening of The Accountant 2
https://www.eventbrite.com/e/screening-of-the-accountant-2-tickets-1225264421869?aff=EarmarkApp
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The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Is the CPA exam fundamentally flawed? With FAR section pass rates plummeting to a 15-year low of 36% and a staggering 40-point gap between discipline section pass rates, something isn't adding up. Dr. Josh McGowan of Troy University joins Blake Oliver to dissect these troubling statistics and explore how the 2024 CPA Evolution model may be inadvertently pushing candidates toward "easier" disciplines. They tackle the growing movement to drop the 150-hour requirement and propose a provocative solution: splitting the credential into specialized tax and financial/audit pathways. Whether you're preparing for the exam or leading a firm, this conversation reveals how accounting's licensing system might finally evolve beyond its one-size-fits-all approach.
Meet Our Guest, Dr. Josh McGowan, CPA
LinkedIn: https://www.linkedin.com/in/dr-josh-mcgowan-cpa-503846b7/
X: https://x.com/Jmcgowan3838
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
This week on the pod: Judge orders 6 agencies (including IRS?) to rehire fired probationary workers, we dig into the tax trick Dr. Oz used to pay no Medicare taxes, AICPA in pointless talks with the IRS, Digits takes on QuickBooks with AI-powered GL, remote accounting jobs in retreat, and more!
Sponsors
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Show Notes
Dr. Mehmet Oz may have underpaid Medicare and Social Security taxes, Senate Democratic memo finds
DOGE proposes cutting IRS workforce by a total of nearly 20%
https://www.cnn.com/2025/03/13/politics/doge-irs-workforce-cuts-downsizing/index.html
Judge orders Trump administration to reinstate thousands of fired employees at VA, Defense Department and other agencies
https://www.cnn.com/2025/03/13/politics/judge-opm-probationary-employees-fired-hearing/index.html
AICPA CEO Releases Statement on IRS Services for this Tax Season
Introducing Autonomous General Ledger
https://digits.com/blog/agl-announcement/
Building AI that Actually Works: 10 Key Lessons from Calendly’s CPO and Head of UX
Only 9% of SMB finance teams are still working fully remote
Opportunity to Attract and Retain Highly Motivated Working Parents via Enhanced Flexibility, Stronger Support Systems
https://kpmg.com/us/en/media/news/kpmg-working-parents-survey-2025.html
Steak n Shake's parent company gets an adverse opinion from auditor
The IRS just demoted its chief counsel who clashed with Elon Musk’s DOGE
https://fortune.com/2025/03/13/irs-chief-counsel-doge-elon-musk/
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
How does a profession revitalize itself when salaries haven't budged since 2007? In this episode, Blake and David examine the shocking reality that Big Four audit associates in Chicago earn the same salary range today as they did nearly two decades ago. They also explore why accounting's value proposition has stagnated in a world where financial statements fail to capture what truly matters to modern investors, and you'll hear their take on the IRS's plan to cut 50% of its workforce, Social Security's future, and the economic impact of tariffs—including a surprising clip from Ronald Reagan himself. Plus, learn how over 30 states are now advancing legislation to eliminate the 150-hour rule that has long been blamed for declining CPA candidates.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Bluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.)
Show Notes
The IRS Is Reportedly Planning to Cut Up to 45,000 Workers — Half of Its Workforce
President Reagan's Radio Address on Free and Fair Trade on April 25, 1987
https://www.youtube.com/watch?v=5t5QK03KXPc
Trump’s Tariffs Set Off Day of Anger, Retaliation and Market Unease
https://www.nytimes.com/live/2025/03/04/us/tariffs-us-canada-mexico-china
Domestic economic sentiment declines 20 percentage points among CPA execs
Trump signs order to establish strategic bitcoin reserve
Fact Sheet: President Donald J. Trump Establishes the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile
Elon Musk's Social Security Comments Called Out by Former Administrator
https://www.newsweek.com/elon-musk-social-security-comments-ponzi-scheme-martin-omalley-2042006
85% of Americans Willing to Raise Taxes to Save Social Security, Survey Shows
https://finance.yahoo.com/news/85-americans-willing-raise-taxes-133018876.html
Erica Goode’s LinkedIn Post on Salary Declines
Will Debt Sink the American Empire?
https://www.wsj.com/politics/policy/will-debt-sink-the-american-empire-8459096b
FASB Requests Feedback Related to Intangible Assets
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What happens when political changes collide with tax enforcement? In this revealing conversation, former IRS revenue agent Jeff Johnson shares his firsthand account of being caught in the recent mass layoffs at the IRS. Having just completed seven months of intensive training, Jeff was among 7,000 probationary employees suddenly terminated as part of a broader federal workforce reduction initiative.
Jeff pulls back the curtain on the agency's antiquated systems—including 1960s COBOL programming and cryptic green screens that revenue agents must master—and explains why these cuts could mean fewer audits of non-compliant taxpayers. You'll hear how experienced professionals who left established careers to serve at the IRS were dismissed with minimal notice and why this might be just the beginning of a much more significant reduction targeting up to half of the agency's 90,000 workforce.
Meet Our Guest, Jeff Johnston
LinkedIn: http://www.linkedin.com/in/jon-jeffery-johnston-6812875
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Transcripts
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What happens when the US government considers creating a cryptocurrency reserve? In this episode, Blake and David dive into Trump's surprising announcement about establishing a crypto strategic reserve and the immediate market reaction. They explore this proposal's potential consequences and skepticism, from security vulnerabilities to valuation challenges.
You'll also hear about PwC Israel's $2.8 million fine for exam cheating, Connecticut's push to create alternative CPA licensure pathways, and how accounting firms are expanding into legal services. They also dissect the outcry over federal employees being asked to submit weekly accomplishment reports and break down Citigroup's jaw-dropping $81 trillion transfer error caused by poor software design.
Whether you're tracking regulatory changes, interested in the evolution of professional services firms, or simply fascinated by the intersection of finance and technology, this episode delivers insights into the forces reshaping the accounting profession today.
Sponsors
Bluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.)
CPA.com - http://accountingpodcast.promo/cpa
Show Notes
Trump names cryptocurrencies in strategic reserve, sending prices up
Crypto's biggest hacks and heists after $1.5 billion theft from Bybit
PCAOB Sanctions PwC Israel for Quality Control Violations Related to Widespread Improper Answer Sharing
CPA Success Index: Ranking the top collegiate accounting programs
https://www.accountingtoday.com/opinion/cpa-success-index-ranks-top-collegiate-accounting-programs
FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines
Fyre Festival 2 tickets are on sale for up to $1.1 million after founder served prison time for defrauding investors of the first event
https://fortune.com/2025/02/26/fyre-festival-2-tickets-billy-mcfarland-prometheus-pass-music-lineup/
Progress: Tracking the conversation in all licensing jurisdictions
https://www.mncpa.org/involvement/legislative/broadening-pathways-to-cpa/national/
Aprio Aims to Enter Legal Industry by Combining with Law Firm in Arizona
McKinsey Estimates Advisor Shortage of 100,000 by 2034
Saudi Wealth Fund Blocks PwC from Advisory Work for One Year
A message from SecVA Doug Collins
https://www.youtube.com/watch?v=r8Z_RkqSAzo
Everyone Hates Pennies, Except This Guy
https://www.wsj.com/business/mark-weller-penny-defender-trump-d543a9de?mod=business_lead_pos1
Federal workers get a new email demanding their accomplishments
https://www.npr.org/2025/03/01/g-s1-51490/federal-workers-new-email-accomplishments
Fact Sheet: President Donald J. Trump Proceeds with Tariffs on Imports from Canada and Mexico
Sam Altman Rejects Elon Musk’s Offer To Buy OpenAI Control—And Mocks X
Former U.S. Senator Robert Menendez Sentenced To 11 Years In Prison For Bribery, Foreign Agent, And Obstruction Offenses
Billions in federal funds for nonprofits were abruptly frozen by the Trump administration, leaving organizations scrambling to stay afloat. Blake speaks with Jerilyn Dressler and Harriet "Hatsy" Cutshall from YPTC about how these freezes disrupted essential services, the complex flow of federal grants, and the rigorous compliance requirements nonprofits must meet. With a judge ordering the funds to be reinstated, they discuss what’s next for nonprofits and the ongoing challenges of government funding oversight.
Meet Our Guests:
Jerilyn Dressler, CPA : https://www.linkedin.com/in/jerilynkeitdresslercpacfe
Harriet "Hatsy" Cutshall, CPA : https://www.linkedin.com/in/hatsycutshallcpa-yptc
Get in Touch
Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
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Dr. Jack Castonguay, CPA and Hofstra University professor, provides a critical analysis of proposed legislation to create a Strategic Bitcoin Reserve. He challenges the notion that the government should invest taxpayer money in a highly volatile, speculative asset that lacks the practical applications of traditional reserves like oil or foreign currencies. The discussion explores concerns about buying at record-high prices, the unknown identities of Bitcoin holders, and the potential risks of states allocating public funds to cryptocurrency investments.
Meet Our Guest, Jack Castonguay
https://www.linkedin.com/in/jack-castonguay-phd-cpa
https://www.hofstra.edu/faculty-staff/faculty-profile.html?id=6751
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This episode originally appeared on the Earmark Podcast. Listen and subscribe at https://podcast.earmarkcpe.com.
Erica Goode, CPA, reveals how she built a thriving $200K accounting firm working just 15 hours a week. Discover the power of niching, efficient processes, and work-life balance in this candid discussion. Erica will share her journey from corporate burnout to entrepreneurial success, offering practical insights on pricing strategies, time management, and building authority in your niche. Whether you're considering starting your own firm or optimizing your existing practice, this webinar will inspire and equip you to reimagine what's possible in your accounting career.
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Show Notes
The 15-Hour Accounting eBook:
https://mailchi.mp/ericagoode/15-hr-accountant-ebook
Meet Our Guest, Erica Goode
LinkedIn: https://www.linkedin.com/in/erica-goode-cpa-00205616/
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Is the U.S. heading toward a financial cliff? In this eye-opening episode, Blake and David unpack the Government Accountability Office's sobering projection that federal debt will double the size of the economy by 2047. While exploring recent DOGE initiatives and IRS layoffs, they examine whether drastic government spending cuts are inevitable—and necessary.
Meanwhile, Virginia and Tennessee join the growing movement to reform CPA licensure requirements by offering pathways that don't require 150 credit hours. Could these changes be the key to increasing diversity more effectively than corporate DEI programs?
You'll also discover why the $400 million PCAOB budget might be on the chopping block, how AI research tools like Perplexity Deep Research are revolutionizing tax research, and get the latest update on the ever-shifting BOI reporting deadlines. Whether you lean left, right, or stay strictly in the debits and credits, this episode offers practical insights for navigating the changing professional landscape.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
CPA.com - http://accountingpodcast.promo/cpa
Bluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.)
Show Notes
GAO-24-106987, The Nation's Fiscal Health
https://www.gao.gov/assets/d24106987.pdf
Corporate Transparency Act Enforcement Injunction Stayed, FinCEN Extends the Beneficial Ownership Information Reporting Deadline to March 21, 2025, and Announces Intention to Revise the Reporting Rule
Trump Demands Apple Ditch DEI After It Rejects Proposal: Here Are All The Companies Cutting Diversity Programs
Breaking down Virginia's new CPA requirements: What you need to know
https://www.blakeoliver.com/blog/breaking-down-virginias-new-cpa-requirements-what-you-need-to-know
Virginia General Assembly passes legislation widening pathways to CPA licensure effective Jan. 1, 2026
Bridging the Gap: New CPA Licensure Legislation To Address the CPA Shortage
$5,000 DOGE check? Trump backs idea to send some savings to Americans
https://www.fox9.com/news/5000-doge-dividend-check-trump-backs-savings-americans
IRS plans to lay off 7,000 probationary workers beginning Thursday, AP source says
https://apnews.com/article/irs-layoffs-trump-elon-musk-doge-df2b3c8d53ff9f2d276c8b29f8004dde
AICPA CEO Mark Koziel on the Future of Accounting Under the Trump Administration
Perplexity Unveils Deep Research: AI-Powered Tool for Advanced Analysis
https://www.infoq.com/news/2025/02/perplexity-deep-research/
TaxGPT Raises $4.6M to Build the First AI Tax Co-Pilot for Accounting and Tax Firms
DeepSeek on par with GPT, Claude, Llama for accounting
https://www.accountingtoday.com/news/deepseek-on-par-with-gpt-claude-llama-for-accounting
Secure your Intuit Account and prevent lockout with extra verification methods
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Show Notes
Coming soon!
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Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Sponsors
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Keeper - http://accountingpodcast.promo/keeper
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Show Notes
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Blake and David examine several significant developments, including TaxDome's data security incident, and the implications of China's DeepSeek AI model that caused Nvidia's stock to drop. They also dig into the White House's federal employee buyout offer that could impact IRS staffing levels and break down key findings from Accounting Today's 2025 Year Ahead survey about trends in remote work, tech spend, and AI adoption in accounting firms.
Sponsors
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Cloud Accountant Staffing - http://accountingpodcast.promo/cas
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Show Notes
Deepseek R1 Explained by a Retired Microsoft Engineer
https://www.youtube.com/watch?v=r3TpcHebtxM
China’s DeepSeek AI dethrones ChatGPT on App Store: Here’s what you should know
https://www.cnbc.com/2025/01/27/chinas-deepseek-ai-tops-chatgpt-app-store-what-you-should-know.html
TaxDome reports security incident, says no sensitive data exposed
https://www.accountingtoday.com/news/taxdome-reports-data-breach
Reporting system error official post-mortem
TaxDome Post from Caleb Jenkins’ LinkedIn
Trump administration offers roughly 2 million federal workers a buyout to resign
Trump suggests sending IRS agents to the border
https://www.yahoo.com/news/trump-suggests-sending-irs-agents-233900348.html
Accounting in 2025: The year ahead in numbers
https://www.accountingtoday.com/list/accounting-in-2025-the-year-ahead-in-numbers
Top 10 AI accounting tools every business needs in 2025
https://www.accountancyage.com/2025/01/24/top-10-ai-accounting-tools-every-business-needs-in-2025/
Xero's new tagline: 'Your business supercharged'
https://www.accountingtoday.com/news/xero-announces-new-tagline-your-business-supercharged
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Blake and David jump into the latest news, including the launch of Trump's own cryptocurrency and KPMG's expansion into legal services in Arizona, taking advantage of new rules allowing non-lawyers to own law firms. They also examine the Treasury Department's Chinese hack attack, South Carolina's $1.8 billion accounting error resolution, and Trump's proposed External Revenue Service.
Sponsors
Relay - http://accountingpodcast.promo/relay
Keeper - http://accountingpodcast.promo/keeper
TaxBandits - http://accountingpodcast.promo/taxbandits
Basil - http://accountingpodcast.promo/basil
Show Notes
TikTok restores US service after Trump says “we have to save it”
https://www.reuters.com/technology/tiktok-goes-dark-us-users-trump-says-save-tiktok-2025-01-19/
Donald and Melania Trump debuted meme coins, $Trump and $Melania. Here's what to know.
https://www.cbsnews.com/news/donald-trump-melania-meme-coin-cryptocurrency-what-to-know/
KPMG’s Bold Move: How Arizona’s ABS Rules Are Reshaping the U.S. Legal Landscape
https://lawleaders.com/kpmgs-bold-move-how-arizonas-abs-rules-are-reshaping-the-u-s-legal-landscape/
IRS Direct File set to expand availability in a dozen new states and cover wider range of tax situations for the 2025 tax filing season
Sage Copilot grounded briefly to fix AI misbehavior
https://www.theregister.com/2025/01/20/sage_copilot_data_issue/
FDIC sues 17 former Silicon Valley Bank executives over collapese
https://www.cnn.com/2025/01/16/business/fdic-sues-svb-executives-directors-intl-hnk/index.html
FDIC sues former SVB execs over bank closure
https://bankingjournal.aba.com/2025/01/fdic-sues-former-svb-execs-over-bank-closure/
SoftBank-Backed Fish Firm Allegedly Faked Most of Its Sales
https://finance.yahoo.com/news/softbank-backed-fish-startup-allegedly-141253969.html
American Express to pay $230 million to settle US charges over deceptive sales practices
U.S. Sanctions Chinese Cybersecurity Firm Over Treasury Hack Tied to Salt Typhoon
https://thehackernews.com/2025/01/us-sanctions-chinese-cybersecurity-firm.html
SC auditor resigns after outside audit found $1.8 billion ‘surplus’ was actually an accounting error
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Blake and David examine Bench's bankruptcy filing, revealing fascinating details about their spending patterns and challenges with the business model. They also explore venture capital's growing interest in accounting firms, particularly focusing on AI automation claims and their potential impact on the profession, and there's a lively discussion about JP Morgan's controversial return-to-office mandate and its implications for workplace flexibility, sparked by Blake's viral tweet that garnered nearly 5 million views.
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TaxBandits - http://accountingpodcast.promo/taxbandits
Relay - http://accountingpodcast.promo/relay
BoomTax - http://accountingpodcast.promo/boomtax
Basil - http://accountingpodcast.promo/basil
Show Notes
AI Has Venture Investors Excited About (Yes) Accounting Firms
https://www.wsj.com/articles/ai-has-venture-investors-excited-about-yes-accounting-firms-3b9b3226
Bench Accounting, Inc. and 10Sheet Services, Inc.
https://www.ksvadvisory.com/experience/case/bench
JPMorgan tells all its employees they must return to office full-time
https://finance.yahoo.com/news/jpmorgan-tells-employees-must-return-140000800.html
Work From Home Policies and Practices
https://pearlmeyer.com/insights-and-research/research-report/work-from-home-policies-and-practices
Workplace Policies and Pay Transparency
https://pearlmeyer.com/insights-and-research/research-report/workplace-policies-and-pay-transparency
H&R Block Agrees to $7M FTC Settlement and Will Make Downgrading Tax Tiers Easier
Capital One sued by CFPB over alleged deception on savings account interest rates
Imposing a $500,000 Fine, PCAOB Sanctions Baker Tilly US, LLP for Quality Control Violations
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Blake and David dive into major industry news, including Ohio ending the 150-hour CPA rule, setting a potential precedent for other states. They also discuss the Blackston acquisition of Citrin Cooperman and explore the implications of private equity involvement in accounting firms. Moving on, they examine workplace trends, including new data revealing that 61% of medium and large employers now require minimum in-office days, and debate the effectiveness of Net Promoter Scores (NPS) in accounting firms.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
BoomTax - http://accountingpodcast.promo/boomtax
TaxBandits - http://accountingpodcast.promo/taxbandits
Basil - http://accountingpodcast.promo/basil
Show Notes
Return-to-office policies gain steam
Citrin Cooperman, a Leading Professional Services Firm, to Receive Significant Investment as Blackstone Acquires Stake from New Mountain Capital
Ohio is the first state to end the 150-hour rule for CPA licensure
https://www.blakeoliver.com/blog/ohio-first-state-to-end-the-150-hour-rule-for-cpa-licensure
Ohio gov signs alternative CPA licensure pathway bill into law
Thomson Reuters Acquires SafeSend, Expanding Tax Automation Capabilities
Xero Partners with Gusto to Offer Integrated Payroll Solution
https://www.wellesleyhillsfinancial.com/2025/01/05/xero-partners-with-gusto-to-offer-integrated-payroll-solution/
Sync your transactions to QuickBooks Desktop with Ramp's direct integration
https://ramp.com/integrations/quickbooks-desktop
Hindenburg Research short on used-car retailer Carvana
Enforcement Activity Involving Auditors – 2024 Mid-Year Update
Amid Barely ‘Average’ Client Satisfaction, Why Aren’t More Firms Using NPS to Improve?
The federal government just got the greenlight to sell $6.5 billion in Bitcoin seized from Silk Road
https://fortune.com/crypto/2025/01/09/federal-government-allowed-sell-bitcoin-silk-road-courts/
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Blake and David explore the controversial H-1B visa program's impact on the accounting profession, particularly how firms like Deloitte reportedly pay visa holders 10% less than U.S. workers and the potential implications for audit quality. They also examine Bench's sudden shutdown and subsequent acquisition and then discuss Barry Melancon's farewell interview with the Financial Times as he steps down as AICPA CEO, where he defended the 150-hour rule, his legacy, and his impact on the profession.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
BoomTax - http://accountingpodcast.promo/boomtax
TaxBandits - http://accountingpodcast.promo/taxbandits
Basil - http://accountingpodcast.promo/basil
Show Notes
Robert Sterling – Twitter - H-1B DATA MEGA-THREAD
https://x.com/RobertMSterling/status/1873174358535110953
Deloitte employees with H-1B visas were paid 10% less than US workers, report finds
Bench to be acquired after abruptly shutting down
https://techcrunch.com/2024/12/30/bench-to-be-acquired-after-abruptly-shutting-down/
‘Most important man in accounting’ warns against lowering standards
https://www.ft.com/content/033792af-18e4-4d69-92f9-5b78b01f2012
Meet Willow, our state-of-the-art quantum chip
https://blog.google/technology/research/google-willow-quantum-chip/
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Rounding out 2024, Blake and David tackle tons of accounting news, including bookkeeping startup Bench's shutdown and the ongoing BOI reporting requirements saga. They also examine concerns about IRS Commissioner nominee Billy Long's credentials, including his "Certified Tax and Business Advisor" designation from a three-day seminar. Wrapping up, they review some of 2024's hottest stories, including declining CPA candidates, audit quality issues, and KPMG CEO Paul Knopp's Wall Street Journal op-ed about the "dying language of accounting."
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Suralink - http://accountingpodcast.promo/suralink
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
TaxBandits - http://accountingpodcast.promo/taxbandits
Show Notes
Bench shuts down, leaving thousands of businesses without access to accounting and tax docs
New York tax preparer called ‘the Magician’ charged for tax fraud of $145m
https://www.theguardian.com/us-news/2024/dec/17/new-york-magician-tax-fraud
Billy Long, Trump’s Nominee to Lead the IRS, Touts a Credential That Tax Experts Say Is Dubious
https://www.propublica.org/article/billy-long-irs-trump-certified-tax-business-advisor-missouri
How a Consulting Firm and Trump’s I.R.S. Pick Pushed a Problematic Tax Credit
https://www.nytimes.com/2024/12/24/business/billy-long-irs-tax-credit.html
The Dying Language of Accounting
https://www.wsj.com/opinion/the-dying-language-of-accounting-cpa-licensing-fede2e74
CPAs Deliberate on the Decline of Accounting
Most Americans say a salary of $270K deems financial success
CFPB Sues Walmart and Branch Messenger for Illegally Opening Deposit Accounts for More Than One Million Delivery Drivers
Lyft Accuses San Francisco of $100 Million Tax Overcharge
IRS announces special payments going this month to 1 million taxpayers who did not claim 2021 Recovery Rebate Credit; encourages non-filers about approaching deadline to claim credits
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Blake, David, and special guest ChatGPT examine the impact of private equity on accounting firms, looking at how PE ownership affects compensation and firm structures. They dig into recent data showing record numbers of accounting errors in public companies, linking these issues to the broader talent shortage crisis. They explore CalCPA's pushback against proposed licensing changes, the surprising economic costs of Daylight Savings Time, and more.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Suralink - http://accountingpodcast.promo/suralink
SmartVault - http://accountingpodcast.promo/smartvault
TaxBandits - http://accountingpodcast.promo/taxbandits
Show Notes
Accounting errors force US companies to pull statements in record numbers
https://www.ft.com/content/716c4ad5-e8fa-4a34-afba-9fb2d1db019d
Republican lawmakers ask Trump to kill IRS Direct File
IRIS to buy Dext in £500m deal
https://www.accountingweb.co.uk/tech/accounting-software/iris-to-buy-dext-in-ps500m-deal
How Private Funds Could Hurt Americans Under Trump
https://www.nytimes.com/2024/12/03/opinion/trump-presidency-billionaires.html
LegalZoom and 1-800Accountant Join Forces to Deliver Full-Service Tax and Bookkeeping Solutions for Small Business Owners
Zoho Releases New Payroll Solution in the U.S.
https://www.cpapracticeadvisor.com/2024/12/13/zoho-releases-new-payroll-solution-in-the-u-s/152935/
BILL Unveils 1099 Form Filing Solution for SMBs
Is Enron back? Here’s what we know …
CalCPA Submits Comments on Exposure Draft on CPA Licensure
https://www.calcpa.org/whats-happening/articles/calcpa-submits-comments-on-exposure-draft-on-cpa
CEOs Want Trump to Change Course on Tariffs. He Isn’t Budging.
https://www.wsj.com/economy/trade/trump-tariff-plan-business-lobbying-8f02ccea
Donald Trump vows to end daylight saving time
https://www.youtube.com/watch?v=EDR1IURzO1Q
More Than a Lost Hour of Sleep: The True Cost of Daylight Saving Time
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