The Accounting Podcast

Could an AI agent decide to hack a system, or cancel your software subscription just to complete its task? Blake and David examine reports of AI agents escaping guardrails, flooding IRS rulemaking with generated comments, and taking autonomous business actions. They also trace accounting from ancient clay tokens to today’s AI economy, exploring why calculating profit and trustworthy records matter more than ever.

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• (00:00) - Profit First Accounting

Show Notes

OpenAI and Hugging Face partner to address security incident during model evaluation

https://openai.com/index/hugging-face-model-evaluation-security-incident/

Trump's IRS Chief Frank Bisignano Accused of Using Hi-Tech Software to Spy on Colleagues' Emails at JPMorgan

https://www.thedailybeast.com/trumps-irs-chief-frank-bisignano-accused-of-using-hi-tech-software-to-spy-on-colleagues-emails-at-jpmorgan/

IRS blitzed with AI-generated comments on proposed tax rules

https://www.accountingtoday.com/news/irs-blitzed-with-ai-generated-comments-on-proposed-tax-rules

Your Agents Are About to Start Firing Your Vendors. Ours Fired Marketo.

https://www.saastr.com/your-agents-are-about-to-start-firing-your-vendors-ours-fired-marketo/

Basis offers AI agents, love letters and an ode to accounting

https://www.accountingtoday.com/news/basis-offers-ai-agents-love-letters-and-an-ode-to-accounting

7 Million Trump Accounts Have Been Opened, Administration Says

https://www.cpapracticeadvisor.com/2026/07/29/7-million-trump-accounts-have-been-opened-administration-says/187586/

DC Circuit Denies Littlejohn Appeal and the Need for Privacy Protections Remains

https://www.ntu.org/foundation/detail/dc-circuit-denies-littlejohn-appeal-and-the-need-for-privacy-protections-remains

KPMG Australia appoints new CEO

https://www.internationalaccountingbulletin.com/news/kpmg-australia-appoints-new-ceo/

KPMG Fires Former COO Eileen Hoggett Over Confidentiality Breach

https://news.ssbcrack.com/kpmg-fires-former-coo-eileen-hoggett-over-confidentiality-breach/

QuickBooks Expands Into Claude and ChatGPT with New Features

https://www.intuit.com/blog/news-social/quickbooks-expands-into-claude-and-chatgpt-with-new-sales-invoicing-payroll-and-lending-features/

Intuit Launches Business Credit Card That Brings Spend Management, Rewards, and Insights Together in QuickBooks

https://investors.intuit.com/news-events/press-releases/detail/1316/intuit-launches-business-credit-card-that-brings-spend-management-rewards-and-insights-together-in-quickbooks

Ramp Brings Stablecoin Accounts and Payments to All Customers

https://www.prnewswire.com/news-releases/ramp-brings-stablecoin-accounts-and-payments-to-all-customers-302830447.html

Ramp Launches AI Token Spend Controls

https://www.prnewswire.com/news-releases/ramp-launches-ai-token-spend-controls-302827389.html

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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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Can one accountant really do tax prep five times faster with AI? Blake and David talk with Sam Leon, founder of The Millennial CPA, about how he uses Claude projects to turn client documents into tax workpapers, speed up review, and run a solo firm built around software. They also dig into where AI still falls short, why review remains the bottleneck, and what firms can realistically automate today.

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• (00:00) - Autonomous AI Reality Check

Show Notes

Judge Smacks Down Trump's IRS Settlement And Orders Sanctions

https://www.cnn.com/2026/07/13/politics/trump-irs-judge-ruling-settlement-sanctions

Instead of Uniting the Left, California's Billionaire Tax Measure Has Split Democratic Allies

https://www.cpapracticeadvisor.com/2026/07/08/instead-of-uniting-the-left-californias-billionaire-tax-measure-has-split-democratic-allies/186379/

NYC lawyers slam pied-a-terre tax as a half-baked money grab

https://www.audacy.com/1010wins/news/local/nyc-lawyers-slam-pied-a-terre-tax-as-a-half-baked-money-grab

A 1948 IBM computer with no memory at all, fed by punchcards, was still doing the accounting at a Texas filtration company as recently as 2020

https://scienceblog.com/t-1948-ibm-402-punchcards-sparkler-filters-accounting-2020/

Time saved by AI partially canceled out by time spent checking AI

https://www.accountingtoday.com/news/time-saved-by-ai-partially-cancelled-out-by-time-spent-checking-ai

Research Suggests Jobs May be Safer at Companies that Embrace AI

https://www.cpapracticeadvisor.com/2026/07/07/research-suggests-jobs-may-be-safer-at-companies-that-embrace-ai/186281/

AI Is No Longer Just a Tech Occupation Story: It's Spreading Across Job Titles in the US and Europe

https://www.hiringlab.org/2026/07/08/ai-is-no-longer-just-a-tech-occupation-story/

The 2026 Best Accounting Firms for Technology

https://www.accountingtoday.com/list/the-2026-best-accounting-firms-for-technology

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Meet Our Guest, Sam Leon, CPA
LinkedIn: https://www.linkedin.com/in/samuelaaronleon/
Website: https://www.millennialcpa.tax/
Website: https://www.taxweave.ai/

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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Check out our new website - accountingconferences.com

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What do World Cup taxes, AI-built accounting tools, and remote work have in common? In this episode, Blake and David unpack how tax rules hit global athletes and sports bettors, why Xero’s new AI products signal a shift toward accountants building their own software, and where firms still face risk with audit standards, cybersecurity, and homegrown apps. You’ll also hear what’s really happening with remote work and a listener correction on Trump accounts.

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• (00:00) - Cold Open and Welcome

Show Notes

World Cup players face tax penalties

https://www.accountingtoday.com/news/world-cup-players-face-tax-penalties

How Much Will World Cup Players Pay in Taxes? In 2026, FIFA is the Real Winner

https://www.cpapracticeadvisor.com/2026/07/06/fifa-is-the-real-winner-of-the-2026-world-cup/186247/

World Cup Betting Tax Rules Differ for Prediction Markets, Sportsbooks

https://www.bloomberg.com/news/articles/2026-07-12/world-cup-betting-tax-rules-differ-for-prediction-markets-sportsbooks

Xero CEO on AI, the builder class and Xero at 20

https://www.accountingweb.co.uk/tech/tech-pulse/xero-ceo-on-ai-the-builder-class-and-xero-at-20

How we're building Xero to scale with growing businesses

https://blog.xero.com/product-updates/xero-ultra-launch-scaling-businesses/

Introducing XeroForce: Your no code custom AI agent builder for financial workflows

https://blog.xero.com/news-events/introducing-xeroforce-ai-agent-builder/

Paying your bills just got cheaper: Standard ACH is now free in Xero

https://blog.xero.com/product-updates/paying-your-bills-just-got-cheaper-standard-ach-is-now-free-in-xero/

Xerocon London 2026: The Agentic Era Has Arrived for Small Business Finance

https://blog.xero.com/product-updates/xerocon-london-2026-agentic-era-small-business-finance/

TaxDome Launches Kiosk: The In-Person Client Experience, Now Digitally Integrated

https://www.cpapracticeadvisor.com/2026/06/09/taxdome-launches-kiosk-the-in-person-client-experience-now-digitally-integrated/184868/

Rippling Launches Business Banking

https://www.cpapracticeadvisor.com/2026/06/23/rippling-launches-business-banking/185574/

MindBridge urges clearer PCAOB guidance on AI audits

https://itbrief.co.uk/story/mindbridge-urges-clearer-pcaob-guidance-on-ai-audits

PCAOB Issues Proposed Amendments to QC 1000 and Seeks Public Comment

https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-issues-proposed-amendments-to-qc-1000-and-seeks-public-comment

Restarting the M&A Flywheel — CBIZ, Inc.

https://cbizflywheel.com/

Starbucks starts vibe coding enterprise stack

https://www.semafor.com/article/07/09/2026/starbucks-starts-vibe-coding-enterprise-stack

Software vendors aren't losing sleep over vibe-coding — yet

https://www.accountingtoday.com/news/software-vendors-arent-losing-sleep-over-vibe-coding-yet

Most accounting firms can be impersonated by email – we checked 275 of them

https://www.accountantsdaily.com.au/business/22638-most-accounting-firms-can-be-impersonated-by-email-we-checked-275-of-them

Despite return-to-office crackdowns, remote work is alive and well as the rate has barely changed over the last two years

https://fortune.com/2026/07/05/remote-work-data-shows-hybrid-and-flexible-work-arrangements-are-here-to-stay-census-data/

AI bills are baffling the C-suite after shift to usage-based pricing

https://www.theregister.com/ai-and-ml/2026/07/03/ai-bills-are-baffling-the-c-suite-after-shift-to-usage-based-pricing/5266383

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What if one tax break could give your child a head start or hand them a pile of money at 18? Blake and David unpack the new Trump accounts, who should use them, and why advisors are split. They also dig into Australia’s latest Big Four scandal, worsening IRS service, AI’s growing role in tax and training, and what these shifts mean for accountants, firms, and clients.

Sponsors
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Canopy - http://accountingpodcast.promo/canopy
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• (00:00) - TAP 495

Show Notes

Why advisors do and don't recommend Trump accounts

https://www.accountingtoday.com/news/why-advisors-do-and-dont-recommend-trump-accounts

The Trump Accounts rollout is the biggest advisory opportunity most accountants are missing

https://www.accountingtoday.com/opinion/the-trump-accounts-rollout-is-the-biggest-advisory-opportunity-most-accountants-are-missing

Australia weighs break-up of Big Four accounting firms after scandals

https://www.investing.com/news/stock-market-news/australia-weighs-breakup-of-big-four-accounting-firms-after-scandals-4769425

EY staffer fired after allegedly accessing Prime Minister's bank account

https://www.cyberdaily.au/security/13847-ey-staffer-fired-after-allegedly-accessing-prime-minister-s-bank-account

Coca-Cola Meets Sympathetic Judges in $20 Billion IRS Case

https://news.bloombergtax.com/daily-tax-report/coca-cola-meets-sympathetic-judges-in-transfer-pricing-dispute

TIGTA: IRS Has Data-Sharing Pacts with Over 1,120 Organizations, Some of Which It Can't Identify

https://www.cpapracticeadvisor.com/2026/07/06/tigta-irs-has-data-sharing-pacts-with-over-1120-organizations-some-of-which-it-cant-identify/186216/

National Taxpayer Advocate issues 2026 mid-year report to Congress

https://www.irs.gov/newsroom/national-taxpayer-advocate-issues-2026-mid-year-report-to-congress

IRS Taxpayer Assistance Centers provided wrong answers to tax questions

https://www.accountingtoday.com/news/irs-taxpayer-assistance-centers-provided-wrong-answers-to-tax-questions

IRS chatbot results may be wrong

https://www.accountingtoday.com/news/irs-chatbot-results-may-be-wrong

IRS gives tax-exempt groups closer scrutiny

https://www.accountingtoday.com/news/irs-gives-tax-exempt-groups-closer-scrutiny

2026 California billionaire tax initiative

https://en.wikipedia.org/wiki/2026_California_billionaire_tax_initiative

Semantic schism: Ron DeSantis rebukes Wall Street Journal jab at 'progressive' property tax measure

https://floridapolitics.com/archives/801396-desantis-wsj-progressive/

KPMG Turns to AI Simulations to Replace Years of Repetitive Tax Training as Automation Reshapes White-Collar Work

https://www.tekedia.com/kpmg-turns-to-ai-simulations-to-replace-years-of-repetitive-tax-training-as-automation-reshapes-white-collar-work/

Three suspects sought after accounting firm robbery in Markham

https://www.cp24.com/news/2026/06/30/three-suspects-sought-after-accounting-firm-robbery-in-markham/

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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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Check out our new website - accountingconferences.com

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Are fake AI receipts becoming the next big headache for finance teams? Blake Oliver and David Leary unpack the surge in AI-generated expense fraud, why tax pros are rapidly adopting AI research tools, and how firms are using AI to automate month-end close and revenue recognition. They also cover NASBA’s response to criticism, Intuit’s renewed focus on accountants, and the implications of private equity and a shifting work culture for the future of accounting firms.

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• (00:00) - AI Tax Research Surge

Show Notes

Use of AI receipts in expense fraud soars

https://www.accountingtoday.com/news/use-of-ai-receipts-in-expense-fraud-soars

The future of the ecosystem: Is everyone a developer now?

https://devblog.xero.com/the-future-of-the-ecosystem-is-everyone-a-developer-now-f3899ddf0b24

Blue J and CPA.com Survey Finds AI Adoption Among Tax Firms Has Nearly Doubled in One Year

https://www.cpa.com/news/blue-j-and-cpacom-survey-finds-ai-adoption-among-tax-firms-has-nearly-doubled-one-year

IRS rolls out introductory AI guidelines for tax practitioners

https://www.accountingtoday.com/news/irs-rolls-out-introductory-ai-guidelines-for-tax-practitioners

IRS electronic tax advisory committee recommends AI and preparer safeguards

https://www.accountingtoday.com/news/irs-electronic-tax-advisory-committee-recommends-ai-and-preparer-safeguards

The end of hourly billing Ignition's 2025 benchmark signals pricing shift for firms

https://www.ignitionapp.com/news/the-end-of-hourly-billing-ignitions-2025-benchmark-signals-pricing-shift-for-firms

Intuit CEO to accountants You are the customer not a channel

https://www.accountingtoday.com/news/intuit-ceo-to-accountants-you-are-the-customer-not-a-channel

Pilot Launches Meridian The AI Platform That Fully Closes the Books for Accounting Firms

https://www.globenewswire.com/news-release/2026/06/16/3312500/0/en/pilot-launches-meridian-the-ai-platform-that-fully-closes-the-books-for-accounting-firms.html

Kinter.ai Launches Agentic AI Accountants to Automate The Financial Close

https://www.prnewswire.com/news-releases/kinterai-launches-agentic-ai-accountants-to-automate-the-financial-close-302807330.html

Eide Bailly Advances Growth Strategy and Client Service Commitment Through Investment from Reverence Capital Partners

https://www.eidebailly.com/insights/firm-news/2026/reverence-capital-partners-investment

With 1.8 Billion Dollar Deal Eide Bailly Set for Explosive Growth

https://cpatrendlines.com/2026/06/25/with-1-8-billion-deal-eide-bailly-set-for-explosive-growth/

Losing Control The Erosion of Disciplinary and Pastoral Power in Accounting Firms

https://onlinelibrary.wiley.com/doi/10.1111/1911-3846.70028

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Can AI really clean up messy bookkeeping—and what happens when firms trust it too much? Blake and David break down KPMG’s error-filled AI report, the Pentagon’s new “Agentic Auditor,” and State Farm’s move to tie agent pay to AI. Blake also shares how he used Claude to complete two years of write-up work in hours, with practical lessons on where AI helps, where it fails, and why human review still matters.

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• (00:00) - TAP 493

Show Notes

Chasing the Hallucinations: KPMG's AI-Powered Attempt at "Redefining Excellence"

https://gptzero.me/news/investigations-kpmg/

KPMG's AI report becomes an accidental demo of AI hallucinations

https://www.theregister.com/ai-and-ml/2026/06/12/kpmgs-ai-report-turns-into-a-demo-of-ai-hallucinations/5255029

Pentagon turns to AI in push for clean financial audit by 2028

https://www.stripes.com/theaters/us/2026-06-11/pentagon-audit-ai-contract-21941885.html

Copilot Cowork is now generally available

https://www.microsoft.com/en-us/microsoft-365/blog/2026/06/16/copilot-cowork-is-now-generally-available/

Tax Prep Billing Rates Lift Busy Season 2026

https://cpatrendlines.com/2026/04/14/tax-prep-emerges-from-busy-season-2026-as-the-new-engine-for-billing-rates/

State Farm overhauls agent contracts, mandates AI use

https://finance.yahoo.com/technology/ai/articles/state-farm-overhauls-agent-contracts-115756712.html

SpaceX CFO Bret Johnsen quietly engineered its historic IPO and became an overnight billionaire

https://fortune.com/2026/06/13/spacex-cfo-bret-johnsen-overnight-billionaire-ipo/

SpaceX CFO Bret Johnsen joins billionaire ranks after $75B IPO: Trial Balance

https://www.cfo.com/news/spacex-cfo-bret-johnsen-joins-billionaire-ranks-after-ipo-trial-balance/822848/

Investors oppose semiannual reporting, says poll

https://www.accountingtoday.com/news/investors-oppose-semiannual-reporting-says-poll

CFA Institute Investor Perspectives: Quarterly Reporting 2026

https://rpc.cfainstitute.org/sites/default/files/docs/research-reports/investor-perspectives-quarterly-reporting-2026.pdf

The Global Freelancer Pay Gap Report

https://www.remitly.com/us/en/landing/global-freelancer-pay-gap

Nick Cannon's Business Accountant Allegedly Embezzles $2 Million, Flees U.S.

https://www.tmz.com/2026/05/08/nick-cannon-business-manager-embezzled-millions/

KPMG scraps summer early Friday finish for staff

https://www.cityam.com/kpmg-scraps-summer-early-friday-finish-for-staff/

Intuit hires Mother to humanize the QuickBooks maker's AI pitch

https://adage.com/agencies/accounts-in-review/aa-intuit-hires-mother-as-creative-strategy-partner/

After issuing more than $20 billion in tariff refunds, the Trump administration is now pursuing legal action to bring the process to a standstill

https://fortune.com/2026/06/01/trump-administration-plan-appeal-illegal-ieepa-tariff-universal-refunds/

IRS gave 47,000 taxpayers' addresses to ICE

https://www.accountingtoday.com/news/irs-gave-47-000-taxpayers-addresses-to-ice

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Limited edition shirts, stickers, and o...

Will AI really automate most accounting work by 2040? Blake and David unpack what they heard at AICPA Engage, from deterministic AI agents and rising accounting enrollment to private equity’s growing influence on firms. Plus, Blake shares an exclusive interview with FICPA CEO Shelly Weir on Florida’s fight to protect CPA licensure. Listen to understand where the profession is heading—and what accountants may need to do next.

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• (00:00) - Cash Stolen In Bay Ridge

Show Notes

Man Accused of Stealing $7K from Accounting Firm in Brooklyn

https://pix11.com/news/local-news/brooklyn/man-accused-of-stealing-7k-from-accounting-firm-in-brooklyn-nypd/

AICPA and CIMA Launch Rise2040: Shaping the Future of Finance and Accounting

https://www.aicpa-cima.com/news/article/aicpa-and-cima-launch-rise2040-shaping-the-future-of-finance-and-accounting

The AICPA Asks: Are You Ready for Accounting in 2040?

https://www.accountingtoday.com/news/the-aicpa-asks-are-you-ready-for-accounting-in-2040

OpenAI CFO Sarah Friar Offers a Look Inside the Company's Finance Function

https://www.cfo.com/news/openai-cfo-sarah-friar-offers-a-look-inside-the-companys-finance-function/822545/

Accounting Undergrad Enrollment Up 9%

https://www.accountingtoday.com/news/accounting-undergrad-enrollment-up-9

3 More States Pass CPA Pathways Legislation

https://www.cfodive.com/news/3-more-states-pass-cpa-pathways-bills-accounting/821649/

A Master's Degree Isn't the Job Guarantee It Used to Be

https://www.wsj.com/articles/a-masters-degree-isnt-the-job-guarantee-it-used-to-be

KPMG Secretly and Repeatedly Accessed a Whistleblower's Computer, Then Shared the Files with Its CEO

https://thenextweb.com/news/kpmg-accessed-whistleblower-computer

Crowe Gets PE Investment from KKR

https://www.accountingtoday.com/news/crowe-gets-pe-investment-from-kkr

57% Say PE Threatens the CPA Brand. But They'll Take the Money.

https://cpatrendlines.com/2026/06/09/cpa-pe-deal-tracker-57-say-pe-threatens-the-cpa-brand-but-theyll-take-the-money/

Red Lobster's CEO Says He's Going to Transform the Chain into 'The Most AI-Forward Restaurant Company That Exists'

https://finance.yahoo.com/sectors/technology/articles/red-lobsters-ceo-says-hes-153500558.html

Stephano Slack Scores PE Funding

https://www.accountingtoday.com/news/stephano-slack-scores-pe-funding

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Can AI now do bookkeeping better than humans? Blake and David dig into new data showing major AI models outperforming outsourced accountants on basic transaction coding, then explore what that means for firms, finance teams, and the future of audit. They also cover a one-person finance team powered by AI agents, KPMG’s scramble to keep up, and why the accounting talent shortage still isn’t going away.

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• (00:00) - TAP 491

Show Notes

Digits "Beyond the AI Hype" Benchmark — AI Models Now Beat Human Accountants

https://blog.insightfulaccountant.com/digits-releases-latest-edition-of-their-beyond-the-ai-hype-benchmark

Ramp Launches Stack, an AI Operating System for Accounting Firms

https://www.prnewswire.com/news-releases/ramp-launches-stack-an-ai-operating-system-for-accounting-firms-302789630.html

Ramp Launches Fleet of AI Agents Across Its Procurement Platform

https://www.prnewswire.com/news-releases/ramp-launches-fleet-of-ai-agents-across-its-procurement-platform-302756657.html

Ramp Raises $750 Million Series F at $44 Billion Valuation

https://www.prnewswire.com/news-releases/ramp-raises-series-f-at-44-billion-valuation-302791103.html

Accounting Talent Shortage Surges — Accounting Today

https://www.accountingtoday.com/news/accounting-talent-shortage-surges

Ex-PCAOB Regulator Joins AI Audit Startup Oath Targeting 80% Automation

https://thefinancestory.com/ex-pcaob-regulator-joins-ai-native-audit-firm-oath

KPMG Exploring Start-Up Deals in Silicon Valley to Counter AI Threat — Financial Times

https://www.internationalaccountingbulletin.com/news/kpmg-exploring-start-up-deals/

KPMG Sets 75% AI Usage Target with New Dashboard, Employees Flag It's Easy to Game — Business Insider

https://www.aol.com/articles/kpmg-now-dashboard-where-consultants-154532433.html

Amazon Shuts Down Internal AI Leaderboard After Employees Inflate Usage via Tokenmaxxing

https://www.hcamag.com/us/specialization/hr-technology/amazon-shuts-down-ai-leaderboard-after-tokenmaxxing/577189

KPMG Australia CEO Andrew Yates Resigns Amid Whistleblower Scandal

https://www.internationalaccountingbulletin.com/news/kpmg-australia-ceo-andrew-yates-resigns-amid-whistleblower-scandal/

Trump Administration Drops $1.8 Billion Anti-Weaponization Fund — Todd Blanche Testimony

https://www.cnbc.com/2026/06/02/doj-fund-trump-todd-blanche.html

Bessent Says He Is Performing IRS Commissioner Duties Amid Trump Tax Settlement Scrutiny

https://www.cnbc.com/2026/06/03/bessent-irs-commissioner-trump-tax-settlement-doj-fund.html

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Is private equity betting on the wrong accounting firms? Blake and David break down CBIZ’s stock slide, why investors may be losing faith in the traditional firm model, and how AI could help smaller firms compete far above their size. They also cover Starbucks ditching AI inventory counts, Microsoft reining in AI tool costs, and what all of it means for accountants navigating automation, pricing, and the future of firm growth.

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• (00:00) - TAP 490

Show Notes

What Can We Learn from CBIZ?

https://www.accountingtoday.com/opinion/what-can-we-learn-from-cbiz

EisnerAmper on Accounting for AI

https://www.privatefundscfo.com/eisneramper-on-accounting-for-ai/

State Societies Merge to Form New England Society of CPAs

https://www.accountingtoday.com/news/state-societies-merge-to-form-new-england-society-of-cpas

Starbucks Kills Off Its Automated Counting AI Tool After Just 9 Months

https://www.goingconcern.com/starbucks-kills-off-its-automated-counting-ai-tool-after-just-9-months-because-it-sucked-at-counting/

NASBA's CPA Exam Reporting Problems Are Improving, But Not Solved

https://www.accountingtoday.com/opinion/nasbas-cpa-exam-reporting-problems-are-improving-but-not-solved

Phoenix Built an Empire of Cubicle Jobs. AI Is Coming to Tear It Down.

https://www.wsj.com/economy/jobs/phoenix-jobs-ai-call-centers-1ca1c3b3

Why the A.I. Job Apocalypse (Probably) Won't Happen

https://www.nytimes.com/2026/05/03/opinion/ai-jobs-unemployment.html

Microsoft Cut Its Engineers Off from AI Because the Bill Got Too Big

https://fortune.com/2026/05/22/microsoft-ai-cost-problem-tokens-agents/

Does Your Firm Need an AI Architect?

https://www.accountingtoday.com/opinion/does-your-firm-need-an-ai-architect

Judge Reopens Trump's $10 Billion IRS Lawsuit

https://www.notus.org/donald-trump/trump-irs-suit-investigate-collusion

Newsom Vows California Will Impose 100% Tax on Trump's Anti-Weaponization Fund

https://abc7.com/post/newsom-vows-california-will-impose-100-tax-trumps-18-billion-anti-weaponization-fund/19188298/

AICPA Backs Bill Limiting Beneficial Ownership Reporting

https://www.accountingtoday.com/news/aicpa-backs-bill-limiting-beneficial-ownership-reporting

KPMG Australia CEO Andrew Yates Resigns Amid Whistleblower Scandal

https://www.internationalaccountingbulletin.com/news/kpmg-australia-ceo-andrew-yates-resigns-amid-whistleblower-scandal/

Xero FY26 Result: Revenue Surges 31% but Profit Dips Due to Melio Acquisition Costs

https://www.fool.com.au/2026/05/14/xero-fy26-result-revenue-surges-31-but-profit-dips-due-to-melio-acquisition-costs/

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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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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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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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