Finally! A Tax Bill That Adds Up

The Accounting Podcast

Blake and David examine the latest tax legislation traveling through Congress, including a new bill requiring the IRS to provide detailed explanations for math errors on tax returns. They also discuss the IRS's new direct file program, the banning of non-compete agreements, and the coolest profession around (spoiler alert: it's not accounting). Lastly, they touch on the concerning data breach at BerryDunn and the AICPA's efforts to rebrand the CPA to attract more young people to the field.

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Chapters

• (02:40) - New proposed IRS Math Act
• (05:42) - IRS wraps first season with free file program
• (09:44) - "The Magician" tax preparer arrested for $100 million tax fraud
• (15:11) - The future of social security
• (19:01) - Sam Bankman-Fried makes a deal in civil suit
• (20:34) - FTC rules noncompetes are unlawful
• (25:32) - Ryan Tax Firm challenges FTC noncompete ruling
• (28:04) - QuickBooks Live announcement upsets accountants
• (41:10) - Anonymous listener says you can work normal hours and still make money
• (44:31) - Accountant charged with embezzling $800k from CA paving firm
• (47:39) - Ryanair CEO thinks more accountants should be running airlines
• (55:25) - Accounting firm sued for data leak
• (57:22) - CPA "Coolest Profession Around)
• (01:01:35) - What is "Accounting Plus"
• (01:06:38) - NASBA offers The Accountancy Licensing Library
• (01:10:00) - Thanks for listening and remember to subscribe

Show Notes

Accountant Charged With Embezzling $800,000 From Paving Firm in California - CPA Practice Advisor

https://www.cpapracticeadvisor.com/2024/04/25/virginia-accountant-charged-with-embezzling-800000-from-richmond-paving-firm/104508/

Ryan Leads Charge Against Biden’s Ban on Noncompete Clauses - CPA Practice Advisor

https://www.cpapracticeadvisor.com/2024/04/26/ryan-leads-charge-against-bidens-ban-on-noncompete-agreements/104537/

Move Over, TurboTax? IRS Considers Expanding Free Tax-Filing Program – WSJ

https://www.wsj.com/personal-finance/taxes/irs-considers-expanding-free-tax-filing-program-8f68cc9a?st=0akqqiu2v0gjb8v

Boeing Needs Another Accountant As CEO, Says Ryanair CEO – Avweb

https://www.avweb.com/aviation-news/boeing-needs-another-accountant-as-ceo-says-ryanair-ceo/

Ultra-Rich Should Pay More Taxes to Save Social Security, Poll Shows - CPA Practice Advisor

https://www.cpapracticeadvisor.com/2024/04/25/ultra-rich-should-pay-more-taxes-to-save-social-security-poll-shows/104458/

FTC Bans Noncompete Agreements That Restrict Job Switching – WSJ

https://www.wsj.com/politics/policy/ftc-bans-noncompete-clauses-that-restrict-job-switching-984d2187?st=sxhwibcr49evqxc

Bronx tax preparer known as "the magician" arrested for $100 million tax fraud | ADN América

https://adnamerica.com/en/new-york/bronx-tax-preparer-known-magician-arrested-100-million-tax-fraud

With close calls mounting, the FAA will require more rest for air traffic controllers

https://www.npr.org/2024/04/22/1246349237/close-calls-faa-air-traffic-control-fatigue

New bill would force IRS to explain tax return errors | The Hill

https://thehill.com/business/4602429-new-bill-would-force-irs-to-explain-tax-return-errors/

The Accountancy Licensing Library: Your Ultimate Resource for CPA Licensure | NASBA

https://nasba.org/blog/2024/04/01/the-accountancy-licensing-library-your-ultimate-resource-for-cpa-licensure/

The cost of doing your taxes are up nearly 10% this year – Marketplace

https://www.marketplace.org/2024/03/15/tax-preaparation-costs-up-nearly-10-percent/

Sam Bankman-Fried agrees to help FTX investors in lawsuits against Tom Brady, Larry David

https://nypost.com/2024/04/22/business/sam-bankman-fried-agrees-to-help-ftx-investors-in-lawsuits-against-tom-brady-larry-david/

Intuit Hosting 'QuickBooks Live' Webinar

https://insightfulaccountant.com/in-the-news/people-and-business/intuit-hosting-quickbooks-live-webinar/

QuickBooks "Live Experts" May Not Be So Bad

https://insightfulaccountant.com/accounting-tech/general-ledger/quickbooks-live-experts-may-not-be-so-bad/

Millions more salaried workers will be eligible for overtime pay under final Biden administration rule

https://www.cnn.com/2024/04/23/politics/overtime-pay-salaried-workers-biden/index.html

Senators introduce bill to simplify IRS notices

https://www.accountingtoday.com/news/senators-introduce-bill-to-simplify-irs-notices

IRS Says It Saw ‘Strong Response’ From Direct File Pilot Users This Tax Season

https://www.cpapracticeadvisor.com/2024/04/26/irs-saw-strong-response-from-direct-file-pilot-users-this-tax-season/104545/

U.S. accounting firm Be...