Is AI about to break the billable hour? Blake and David unpack what they heard at a major AI tax summit, where new tools promise to prepare complex returns in minutes instead of hours. They also debate Intuit’s stock slide, Trump’s extraordinary IRS settlement, and what shrinking oversight at the PCAOB could mean. You’ll hear where AI is already changing accounting—and where humans still matter most.

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• (00:00) - TAP 489

Show Notes

Intuit Lays Off 3,000 Employees Amid AI Push

https://officechai.com/ai/intuit-lays-off-3000-employees-amid-ai-push/

U.S. Government Agrees to Drop Tax Claims Against Trump in Broadening of IRS Settlement

https://www.npr.org/2026/05/19/g-s1-122938/irs-trump-settlement-tax-returns-audit

DOJ Settlement 'Forever' Bars IRS Trump Audits, Sparks Backlash

https://tax.thomsonreuters.com/news/doj-settlement-forever-bars-irs-trump-audits-sparks-backlash/

U.S. Audit Watchdog Should Rescind Its Independence Rules, SEC Official Says

https://www.securitiesdocket.com/2026/05/08/u-s-audit-watchdog-should-rescind-its-independence-rules-sec-official-says-wsj/

The SEC's New SOX Group – Potential Impacts for Audit Firms, Their Professionals, and Future PCAOB Enforcement

https://www.kslaw.com/news-and-insights/the-secs-new-sox-group-potential-impacts-for-audit-firms-their-professionals-and-future-pcaob-enforcement

IRS to Develop System to Track Missing Payments, TIGTA Says

https://www.thetaxadviser.com/news/2026/may/irs-to-develop-system-to-track-missing-payments-tigta-says/

78% of Tax Pros Say Tax Season Negatively Impacts Personal and Professional Life

https://www.cpapracticeadvisor.com/2026/05/26/78-of-tax-pros-say-that-tax-season-negatively-impacts-personal-professional-life/183912/

California Proposes Tax on All Digital Software Sales

https://www.techtimes.com/articles/316734/20260516/californias-725-saas-tax-would-hit-every-business-running-microsoft-salesforce-workday.htm

EY Gets Busted and Yeets Cybersecurity Report Littered With AI Hallucinations

https://www.goingconcern.com/ey-gets-busted-and-yeets-cybersecurity-report-littered-with-ai-hallucinations/

Investigation: Hallucinations in Ernst & Young Report on Loyalty Fraud

https://gptzero.me/investigations/ey

Is AI Putting Graduates Out of Work Already?

https://www.economist.com/finance-and-economics/2025/03/27/is-ai-putting-graduates-out-of-work-already

Musk's xAI Fails to Pay Staff $420 for Giving Tax Returns to Grok

https://www.bloomberg.com/news/articles/2026-05-18/musk-s-xai-promised-staff-420-for-their-tax-returns-hasn-t-paid

SpaceX Files for IPO

https://spacenews.com/spacex-files-for-ipo/

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