The Accounting Podcast

The Accounting Podcast

By Blake Oliver & David LearyNewsNews CommentaryBusiness News
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The Accounting Podcast episodes

  • Building a $200K Accounting Firm in Just 15 Hours a Week (from the Earmark Podcast)

    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.

    Get CPE for this episode here: https://www.earmark.app/c/1802

    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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    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.


    Sponsorships

    Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.


    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • YouTube: https://www.youtube.com/@TheAccountingPodcast
    • Spotify: http://cloudacctpod.link/Spotify
    • Podchaser: http://cloudacctpod.link/podchaser
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast


    Classifieds

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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

    1 hr 3 min
  • IRS Layoffs, BOI Is Back, PCAOB Under Threat

    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.)


    Chapters
    • (02:16) - Apologies and Clarifications
  • (04:14) - IRS Layoffs and Government Spending
  • (05:09) - Live Stream Interactions and Sponsorships
  • (06:24) - Federal Debt and Fiscal Health
  • (16:35) - BOI Reporting Deadline Extension
  • (18:42) - Deloitte's DEI Changes
  • (23:03) - CPA Licensure Pathways
  • (28:14) - DOGE Dividend Proposal
  • (32:51) - Social Security and Medicare Funding Challenges
  • (35:17) - Impact of IRS Layoffs
  • (37:50) - Audit Rates and Tax Compliance
  • (41:53) - Regulatory Burdens and Economic Growth
  • (49:46) - PCAOB and Audit Quality
  • (57:50) - AI in Tax Research
  • (01:03:34) - Listener Engagement and Final Thoughts
  •  


    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

    https://www.sidley.com/en/insights/newsupdates/2025/02/corporate-transparency-act-enforcement-injunction-stayed

     

    Trump Demands Apple Ditch DEI After It Rejects Proposal: Here Are All The Companies Cutting Diversity Programs

    https://www.forbes.com/sites/conormurray/2025/02/26/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

    https://boa.virginia.gov/2025/02/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

    https://www.tscpa.com/news/1490-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

    https://www.nysscpa.org/news/publications/the-trusted-professional/article/aicpa-ceo-mark-koziel-on-the-future-of-accounting-under-the-trump-administration-021225

     

    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

    https://www.taxgpt.com/blog/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

    https://quickbooks.intuit.com/learn-support/en-us/help-article/security-risk/verify-account-multi-factor-authentication/L2Xp0GNiT_US_en_US

     
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    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 ...

    1 hr 6 min
  • DOGE Chaos, Reciprocal Tariffs, Deloitte Backs off DEI, AICPA Caves on 150

    Today, Blake and David dive into the controversy surrounding DOGE's withholding federal funds and gaining access to Treasury payment systems. They also examine AICPA's move away from the 150-hour requirement and Adobe's misguided tax document advice. All this and much more, right now!

    Sponsors
    CPA.com - http://accountingpodcast.promo/cpa
    Relay - http://accountingpodcast.promo/relay
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    Rho - http://accountingpodcast.promo/rho


    Chapters
    • (00:00) - Welcome to The Accounting Podcast
  • (00:54) - Chaos Created by Doge
  • (01:32) - Top Stories of the Week
  • (02:17) - Listener Mail and Additional Topics
  • (05:09) - Live Stream Interaction
  • (06:42) - DOJ and Treasury Payment Freeze
  • (17:40) - Young Engineers at DOJ
  • (24:15) - Automation Features for Seamless Transactions
  • (24:44) - Addressing Viewer Questions on Treasury Policies
  • (25:34) - Debate on Federal Fund Vetting and Spending
  • (27:57) - Government Bureaucracy and Political Battles
  • (33:31) - The Role of Young Auditors in Government Agencies
  • (39:21) - Adobe's Tax Tips: Helpful or Harmful?
  • (42:37) - Final Thoughts on Government Efficiency and Partisanship
  •  


    Show Notes

    NASBA and the AICPA Propose an Alternative Path to CPA

    https://www.cpajournal.com/2025/01/24/nasba-and-the-aicpa-propose-an-alternative-path-to-cpa/#google_vignette

     

    “DOGE” Access to Treasury Payment Systems Raises Serious Risks

    https://www.cbpp.org/research/federal-budget/doge-access-to-treasury-payment-systems-raises-serious-risks

     

    Governor Shapiro Files Lawsuit Challenging Trump Administration’s Unconstitutional Federal Funding Freeze in Order to Protect Pennsylvania Interests

    https://www.pa.gov/governor/newsroom/2025-press-releases/gov-shapiro-files-lawsuit-trump-admin-unconstitutional-federal-f.html

     

    Craig Hausz Tweet on a client’s tax return delay

    https://x.com/CPATaxTeam/status/1890096888549912704

     

    Federal judge partially blocks DOGE’s access to Treasury financial systems

    https://fedscoop.com/judge-blocks-treasury-payments-systems-from-doge/

     

    Taxing times: New Adobe Acrobat survey reveals taxpayer stressors and solutions for making filing easier

    https://blog.adobe.com/en/publish/2025/02/20/taxing-times-new-adobe-acrobat-survey-reveals-taxpayer-stressors-solutions-for-making-filing-easier

     

    Are Deloitte UK & Deloitte US Doing DEI Differently?

    https://sustainabilitymag.com/articles/are-deloitte-uk-and-us-doing-dei-differently


    Need CPE?

    Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
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    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.


    Sponsorships

    Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.


    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • YouTube: https://www.youtube.com/@TheAccountingPodcast
    • Spotify: http://cloudacctpod.link/Spotify
    • Podchaser: http://cloudacctpod.link/podchaser
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast


    Classifieds

    Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd


    Transcripts

    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    47 min
  • Accounting Majors Up 12% & IRS Delays Buyout Offer

    Blake and David tackle several key accounting industry developments, including a surprising 12% increase in undergraduate accounting enrollment and ongoing debates about IRS staffing and operations. They explore the potential impact of changes to Illinois's 150-hour CPA licensing rule, examine Elon Musk's controversial claims about government spending, and share insights about AI advancements in accounting firms.

    Sponsors
    OnPay - http://accountingpodcast.promo/onpay
    Keeper - http://accountingpodcast.promo/keeper
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    Rho - http://accountingpodcast.promo/rho


    Chapters
    • (00:00) - Welcome to The Accounting Podcast
  • (03:37) - Government Employee Buyout Offer Update
  • (09:24) - Undergraduate Accounting Enrollment Surge
  • (12:38) - Illinois Proposes New CPA Pathways
  • (14:25) - Elon Musk and IRS Direct File Controversy
  • (18:16) - Doge's Access to Treasury Systems
  • (26:53) - Tax Exemption on Tips: A Double-Edged Sword
  • (30:19) - The Hidden Costs of Automation
  • (38:03) - AI in Accounting: Current Innovations
  • (45:46) - BDO Lawsuit: Inflated Revenues and ESOP
  • (49:40) - Closing Remarks and Announcements
  •  


    Show Notes

    IRS Confirms Filing Season, Taxpayer Advocate Staff Exempted From Buyout

    https://tax.thomsonreuters.com/news/irs-confirms-filing-season-taxpayer-advocate-staff-exempted-from-buyout/

     

    Undergraduate Accounting Enrollment Rose 12% in Fall 2024

    https://www.aicpa-cima.com/news/article/undergraduate-accounting-enrollment-rose-12-in-fall-2024

     

    Bipartisan State House Bill Would Create Additional Pathways to CPA Licensure in Illinois

    https://www.cpapracticeadvisor.com/2025/02/04/bipartisan-state-house-bill-would-create-additional-pathways-to-cpa-licensure-in-illinois/155537/

     

    Elon Musk creates confusion about IRS’ Direct File — but the free tax program is still available

    https://apnews.com/article/irs-direct-file-musk-18f-6a4dc35a92f9f29c310721af53f58b16

     

    About 18F

    https://18f.gsa.gov/about/#:~:text=18F%20is%20a%20team%20of,improve%20public%20service%20through%20technology

     

    Elon Musk’s Team Now Has Access to Treasury’s Payments System

    https://www.nytimes.com/2025/02/01/us/politics/elon-musk-doge-federal-payments-system.html

     

    Trump Tax Proposals: Details & Analysis

    https://taxfoundation.org/research/federal-tax/trump-administration-tax-proposals/

     

    Agentic AI: Small steps, big aspirations at accounting firms

    https://www.accountingtoday.com/news/agentic-ai-small-steps-big-aspirations-at-accounting-firms

     

    WiseLayer Raises $7.2 Million for AI Agents for Accounting Teams

    https://www.pymnts.com/artificial-intelligence-2/2025/wiselayer-raises-7-2-million-for-ai-agents-for-accounting-teams/

     

    BDO Gets Accused of Inflating Revenue Ahead of the ESOP Again, This Time in a Class Action Lawsuit

    https://www.goingconcern.com/bdo-gets-accused-of-inflating-revenue-ahead-of-the-esop-again-this-time-in-a-class-action-lawsuit/

     

    Taxing times: New Adobe Acrobat survey reveals taxpayer stressors and solutions for making filing easier

    https://blog.adobe.com/en/publish/2025/02/20/taxing-times-new-adobe-acrobat-survey-reveals-taxpayer-stressors-solutions-for-making-filing-easier


    Need CPE?

    Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
    Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com


    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.


    Sponsorships

    Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.


    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • YouTube: https://www.youtube.com/@TheAccountingPodcast
    • Spotify: http://cloudacctpod.link/Spotify
    • Podchaser: http://cloudacctpod.link/podchaser
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast


    Classifieds

    Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let th...

    52 min
  • Will IRS Agents Take White House Buyout & TaxDome Leak Explained

    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
    Keeper - http://accountingpodcast.promo/keeper
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    Basil - http://accountingpodcast.promo/basil


    Chapters
    • (00:24) - Introduction and Episode Overview
  • (01:41) - Listener Shoutouts and Engagement
  • (02:31) - Sports Banter and Mood Check
  • (03:22) - Live Stream Interaction
  • (05:11) - TaxDome Data Incident Discussion
  • (22:24) - White House Buyout Offer for Federal Employees
  • (31:26) - DeepSeek AI Model and Market Impact
  • (36:24) - Exploring Perplexity's New DeepSeek R1 Model
  • (36:58) - Comparing Reasoning Capabilities: R1 vs. ChatGPT
  • (38:10) - The Google Search Analogy
  • (39:16) - Concerns Over Unverified Financial Information
  • (40:32) - Running AI Models on Personal Hardware
  • (41:00) - Cost Implications for Businesses Using AI
  • (42:59) - Innovation in Large vs. Small Firms
  • (45:33) - Reforming the IRS: A New Approach
  • (48:36) - Addressing the Accountant Labor Shortage
  • (49:32) - Accounting Trends for 2025
  • (57:00) - The Role of AI in Accounting Tools
  • (59:56) - Frustrations with Current Accounting Software
  • (01:05:33) - Final Thoughts
  •  


    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

    https://community.taxdome.com/c/resources/reporting-system-incident-official-post-mortem-794aebba-618b-4857-8aab-debca4e644ee 

    TaxDome Post from Caleb Jenkins’ LinkedIn

    https://www.linkedin.com/posts/calebjenkins1994_so-taxdome-can-you-tell-us-more-about-activity-7288762022882594816-X9eS?utm_source=share&utm_medium=member_desktop

    Trump administration offers roughly 2 million federal workers a buyout to resign

    https://www.nbcnews.com/politics/white-house/trump-administration-offer-federal-workers-buyouts-resign-rcna189661

    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


    Need CPE?

    Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
    Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com


    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.


    Sponsorships

    Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.


    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • YouTube: https://www.youtube.com/@TheAccountingPodcast
    • Spotify: http://cloudacctpod.link/Spotify
    • Podchaser: http://cloudacctpod.link/podchaser
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast


    Classifieds

    Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd


    Transcripts

    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    1 hr 13 min
  • TikTok & IRS Direct File Saved; Trump Issues Own Currency

    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


    Chapters
    • (00:48) - Trump's TikTok Saga
  • (03:15) - Live Stream and CPE Credits
  • (04:28) - Trump's Cryptocurrency Launch
  • (06:34) - Sage AI Data Leak Incident
  • (12:07) - Relay Sponsorship and Banking Solutions
  • (13:53) - Trump's Cryptocurrency Impact
  • (27:46) - Direct File and IRS Developments
  • (32:25) - KPMG Enters Legal Services
  • (38:31) - Tax Bandits: Streamlining Your Tax Season
  • (39:30) - Legal Document Automation with AI
  • (40:44) - South Carolina's $1.8 Billion Accounting Error
  • (45:36) - Trump's External Revenue Service Proposal
  • (49:34) - Chinese Hackers Breach U.S. Treasury
  • (56:31) - FDIC Sues Silicon Valley Bank Executives
  • (01:04:19) - American Express Settles for $230 Million Over Bad Tax Advice
  • (01:08:08) - Testing Google's Gemini Advanced for Tax Research
  • (01:11:57) - Earn Free CPE Credits with Earmark
  • (01:14:02) - Conclusion and Live Stream Announcement
  •  


    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

    https://www.irs.gov/newsroom/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

    https://www.reuters.com/business/finance/american-express-pay-1087-mln-settle-deceptive-marketing-allegations-justice-2025-01-16/

     

    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

    https://www.wistv.com/2025/01/23/sc-auditor-resigns-after-outside-audit-found-18-billion-surplus-was-actually-an-accounting-error/


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    1 hr 15 min
  • JPMorgan's RTO Drama, VC Love for Accounting and the Fall of Bench

    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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    Chapters
    • (01:23) - Bench Accounting Bankruptcy Deep Dive
  • (01:57) - Venture Capital's Interest in Accounting
  • (02:22) - JP Morgan's Return to Office Policy
  • (03:44) - Continuing Professional Education Credits
  • (04:45) - Bench Bankruptcy Filing Details
  • (05:30) - Bench's Financial Breakdown
  • (07:22) - Bench's Customer Acquisition Strategy
  • (10:35) - Bench's Development and Management Costs
  • (12:57) - Operations and Outsourcing at Bench
  • (15:47) - Service Delivery and Refunds
  • (19:27) - Venture Capital and AI in Accounting
  • (28:56) - Relay: The Small Business Bank
  • (35:08) - AI-Powered Bookkeeping: A New Frontier
  • (36:24) - Debating the Future of Software Costs
  • (40:54) - AI's Impact on Job Markets
  • (44:55) - Challenges in Replacing Human Jobs with AI
  • (50:37) - The Remote Work Debate
  • (01:01:45) - Corporate Accountability and Legal Issues
  • (01:11:43) - Closing Remarks and Future Topics
  •  


    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

    https://www.cnet.com/personal-finance/taxes/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

    https://www.msn.com/en-us/money/personalfinance/capital-one-sued-by-cfpb-over-alleged-deception-on-savings-account-interest-rates/ar-BB1rr4nY

     

    Imposing a $500,000 Fine, PCAOB Sanctions Baker Tilly US, LLP for Quality Control Violations

    https://pcaobus.org/news-events/news-releases/news-release-detail/imposing-a--500-000-fine--pcaob-sanctions-baker-tilly-us--llp-for-quality-control-violations


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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

    1 hr 13 min
  • Ohio Killed The 150-Hour Rule - Who's Next?

    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


    Chapters
    • (01:03) - Private Equity in Accounting Firms
  • (02:51) - Personal Update: Blake's Hand Injury
  • (04:55) - California's Insurance Crisis
  • (13:34) - Ohio Ends the 150-Hour Rule
  • (21:39) - App News: OnPay, SafeSend, and More
  • (29:53) - Carvana's Questionable Accounting Practices
  • (36:13) - Return to Office Policies
  • (39:38) - RTO Policies and Office Leases
  • (40:52) - Client Satisfaction and Net Promoter Score
  • (42:30) - Debate on the Effectiveness of NPS
  • (43:57) - Implementing NPS in Accounting Firms
  • (51:40) - PCAOB Fines and Audit Quality
  • (01:02:52) - Bitcoin and Government Policies
  • (01:06:31) - Private Equity in Accounting Firms
  • (01:14:44) - Earmark App and CPE Credits
  •  


    Show Notes

    Return-to-office policies gain steam

    https://www.cfo.com/news/return-to-office-policies-gain-steam-remote-work-hybrid-wtw-resume-org/735710

    Citrin Cooperman, a Leading Professional Services Firm, to Receive Significant Investment as Blackstone Acquires Stake from New Mountain Capital

    https://www.blackstone.com/news/press/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

    https://www.cfodive.com/news/ohio-gov-signs-alternative-cpa-licensure-pathway-bill-law-accounting-aicpa/736942/

    Thomson Reuters Acquires SafeSend, Expanding Tax Automation Capabilities

    https://www.thomsonreuters.com/en/press-releases/2025/january/thomson-reuters-acquires-safesend-expanding-tax-automation-capabilities.html

    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

    https://www.reuters.com/business/autos-transportation/hindenburg-research-short-used-car-retailer-carvana-2025-01-02/

    Enforcement Activity Involving Auditors – 2024 Mid-Year Update

    https://www.brattle.com/wp-content/uploads/2024/08/Enforcement-Activity-Involving-Auditors-2024-Mid-Year-Update.pdf

    Amid Barely ‘Average’ Client Satisfaction, Why Aren’t More Firms Using NPS to Improve?

    https://insidepublicaccounting.com/2024/07/16/amid-barely-average-client-satisfaction-why-arent-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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    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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    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


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    1 hr 16 min
  • How H1-B Visas Suppress Accounting Salaries

    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


    Chapters
    • (05:01) - Sponsors and H1B Visa Discussion
  • (10:51) - H1B Visa Impact on Accounting
  • (25:22) - Bench Accounting Shutdown
  • (42:30) - VCs and the Tough Decisions
  • (43:24) - Challenges in Automating Bank Transactions
  • (44:40) - H1B Visa Workers and Financial Misconduct
  • (48:01) - Predictions for 2025 and Beyond
  • (53:54) - Private Equity's Impact on Accounting Firms
  • (01:02:38) - Barry Melanson's Legacy and the Future of CPA
  • (01:09:46) - Conclusion and CPE Credits
  • (01:11:08) - Bitcoin and Quantum Computing
  •  


    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

    https://www.hrdive.com/news/deloitte-employees-with-h-1b-visas-were-paid-10-less-than-us-workers/735162/

     

    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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    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

    1 hr 18 min
  • BOI On Again Off Again, Bench Shuts Down, Dying Language of Accounting

    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."

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    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    TaxBandits - http://accountingpodcast.promo/taxbandits


    Chapters
    • (01:36) - Beneficial Ownership Information Reporting (BOI)
  • (03:14) - Bench Accounting Shutdown
  • (12:10) - Automated Bookkeeping Challenges
  • (18:10) - Tax Fraud Case: The Magician
  • (27:55) - IRS Commissioner Nominee Controversy
  • (33:30) - Tax Refunds and Lifetime Advisors
  • (35:51) - The Dying Language of Accounting
  • (37:19) - CPA Licensure Reform
  • (38:40) - Working Conditions in Accounting
  • (42:03) - Reflecting on 2024: Key Themes and Events
  • (55:09) - AI and the Future of Accounting
  • (01:00:34) - San Francisco's Tax Controversies
  • (01:03:38) - IRS Special Payments and Predictions for 2025
  • (01:06:00) - Bitcoin and Quantum Computing Risks
  • (01:08:48) - Closing Remarks and CPE Information
  •  


    Show Notes

    Bench shuts down, leaving thousands of businesses without access to accounting and tax docs

    https://techcrunch.com/2024/12/27/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

    https://www.wsj.com/opinion/cpas-deliberate-on-the-demise-of-accounting-kpmg-business-language-c0be3e68

    Most Americans say a salary of $270K deems financial success

    https://www.cfo.com/news/most-americans-say-salary-of-270k-deems-financial-success-gen-z-boomers-inflation/734019/

    CFPB Sues Walmart and Branch Messenger for Illegally Opening Deposit Accounts for More Than One Million Delivery Drivers

    https://www.consumerfinance.gov/about-us/newsroom/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

    https://www.bloomberg.com/news/articles/2024-12-24/lyft-accuses-san-francisco-of-overcharging-100-million-in-taxes

    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

    https://www.irs.gov/newsroom/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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    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.


    Sponsorships

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    1 hr 10 min

About The Accounting Podcast

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The most authoritative voice in accounting news. Every week, Blake Oliver and David Leary break down the stories reshaping the profession — AI, the Big Four, firm M&A, audit failures, and the…

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