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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
    OnPay - http://accountingpodcast.promo/onpay
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    Chapters
    (00:00) - TAP 495(01:40) - Sponsor Break OnPay(03:11) - Trump Accounts Basics(04:39) - Risks Versus 529 Plans(08:46) - Roth Conversion Strategy(11:27) - Big Four Scandals Australia(15:02) - Sponsor Break Canopy(16:26) - Coca-Cola Transfer Pricing Fight(21:38) - IRS Data Sharing Mess(23:41) - Tax Season Report Card(26:25) - IRS Help Centers Secret Shop(28:31) - Sponsor Break Value Builder(29:47) - IRS Chatbots Gone Wrong(30:36) - IRS Chatbot Failures(31:37) - Nonprofit Enforcement Push(33:29) - Is Nonprofit Fraud Real(36:27) - Sponsor Cloud Staffing(37:46) - California Billionaire Tax(42:01) - Florida Property Tax Shakeup(45:56) - AI Changes Teamwork(49:12) - AI Automates CPE Reporting(52:17) - KPMG Tax Training Simulator(56:15) - Accounting Firms Robbed(57:10) - Wrap Up and CPE Plug

    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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  • 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.

    Sponsors
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    The Value Builder System - http://accountingpodcast.promo/value
    OnPay - http://accountingpodcast.promo/onpay


    Chapters
    (00:00) - AI Tax Research Surge(00:23) - Show Intro and Lead Story(02:11) - AI Receipt Fraud Explodes(04:42) - Fraud Types and Detection(06:32) - Vibe Coding Goes Mainstream(10:19) - Claude for Rev Rec Workpapers(11:48) - NASBA Letter Follow Up(17:38) - Earmark CPE and New Audit Show(20:08) - Intuit Courts Accountants(23:04) - AI in Tax and IRS Guidance(28:45) - Hourly Billing Debate(29:10) - Disclosing AI Use(29:36) - NASBA Free Speech Question(31:34) - Customer Focus vs Regulation(35:52) - AI Close Tools Meridian(37:38) - DIY Agents for Accounting(39:20) - Claude Builds Rev Rec(44:46) - Eide Bailly Takes PE(48:06) - Big Firms Losing Control(53:01) - PE Meets Culture Shift(53:55) - Wrap Up CPE and Pricing

    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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    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 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.

    Sponsors
    Canopy - http://accountingpodcast.promo/canopy
    The Value Builder System - http://accountingpodcast.promo/value
    OnPay - http://accountingpodcast.promo/onpay


    Chapters
    (00:00) - TAP 493(02:20) - KPMG AI Report Scandal(04:01) - GPTZero Findings Breakdown(05:16) - Hallucinated Case Studies(07:18) - Pentagon Turns to AI Audits(08:33) - Microsoft Copilot Cowork Launch(10:09) - Claude Cowork Write Up Win(15:22) - Recon Fixes and Loan Discovery(20:48) - Future of Agentic Accounting(24:06) - Livestream Q and A TaxGPT(27:01) - AI Review and Human Loop(28:38) - QuickBooks AI Gripe Vibe Coding(31:15) - OnPay Payroll Pitch(32:10) - CPA Fees Rising(33:58) - State Farm AI Agents(37:09) - SpaceX IPO Accounting(39:31) - Musk Disclosure Shift(41:02) - Quarterly Reporting Debate(46:31) - Celebrity Accountant Fraud(50:52) - KPMG Summer Perk Cut(52:24) - Intuit Humanizing AI(55:22) - IRS Data Shared With ICE(57:56) - CPE And Farewell

    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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    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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    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.

    Sponsors
    Digits - http://accountingpodcast.promo/digits
    OnPay - http://accountingpodcast.promo/onpay
    Savant Labs - http://accountingpodcast.promo/savant
    R.E. Cost Seg - http://accountingpodcast.promo/recostseg


    Chapters
    (00:00) - Cash Stolen In Bay Ridge(00:27) - Podcast Welcome Back(02:58) - Engage Conference Takeaways(03:58) - Hidden Vibe Coding(07:50) - Rise 2040 Automation Report(10:47) - Human In The Lead Debate(15:09) - Top Firm Concerns 2026(18:29) - OpenAI Finance Team Lean(21:52) - Enrollment Up And CPA Pathways(25:19) - 7000 Cash Theft Revisited(26:52) - KPMG Whistleblower Scandal(28:33) - Crowe Gets 3B PE Deal(30:07) - Red Lobster AI Conspiracy(31:30) - PE Cross Selling Risks(33:39) - CPA Trust Campaign Launch(36:17) - Florida Licensure Threat(37:14) - Why Shelly Stayed Quiet(39:13) - What The Bill Proposed(43:28) - Why Deregulation Happened(45:46) - How FICPA Stopped It(48:46) - Mobility And Modernization(01:00:04) - CPE And Future Battles(01:03:59) - Wrap Up And Next Steps

    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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    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 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.

    Sponsors
    OnPay - http://accountingpodcast.promo/onpay
    The Value Builder System - http://accountingpodcast.promo/value
    R.E. Cost Seg - http://accountingpodcast.promo/recostseg


    Chapters
    (00:00) - TAP 491(00:38) - Top stories preview(03:23) - OnPay support story(04:08) - Finance team of one(06:49) - LLMs vs humans benchmarks(09:15) - Ramp Stack agents(13:04) - Digits interview begins(19:55) - Outcome pricing and skills(28:05) - Livestream Q&A reactions(29:27) - Future of audit Oath(30:29) - Oath AI Audit Vision(31:46) - Continuous Audit Workflow(32:21) - Business Model Debate(33:02) - Big Four On Alert(33:07) - Accounting Engineer Hiring(33:47) - KPMG Courts AI Startups(35:15) - Talent Shortage Worsens(36:31) - Why Seniors Are Scarce(39:55) - Ramp Stack AI Agents(47:14) - Procurement Agents And Valuation(48:50) - KPMG Token Maxing Dashboard(52:31) - KPMG Australia Fallout(54:45) - Trump Tax Settlement Update(56:14) - IRS Leadership Vacuum(59:28) - Wrap Up And Earmark News

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

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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.

    Sponsors
    Canopy - http://accountingpodcast.promo/canopy
    OnPay - http://accountingpodcast.promo/onpay
    C&R Consulting - http://accountingpodcast.promo/cnr
    Maxima.AI - http://accountingpodcast.promo/maxima


    Chapters
    (00:00) - TAP 490(02:53) - CBIZ Stock Slide(06:13) - AI Threat to Firm Models(11:32) - EisnerAmper Anti AI Take(15:42) - Livestream Shoutouts(16:13) - New England CPA Society Merge(20:42) - Starbucks Kills AI Inventory(23:34) - NASBA Exam Data Mess(26:34) - Phoenix Call Center Jobs and AI(28:36) - Will AI Really Kill Jobs(31:09) - Spreadsheets Then AI Now(33:07) - Automation Enables CFO Services(35:08) - Microsoft AI Token Shock(36:31) - Managing Token Spend(39:27) - AI Architect Role(43:36) - Trump IRS Settlement Reopened(45:04) - Beneficial Ownership Bill(45:52) - Newsom 100% Tax Threat(46:57) - KPMG Australia Whistleblower(49:35) - Xero Force No Code Agents(54:03) - Xero Earnings Melio Impact(59:03) - Vibe Coding Real Examples(01:02:35) - Wrap Up Earmark CPE

    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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  • 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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    Chapters
    (00:00) - TAP 489(02:24) - Blackor AI Tax Summit(03:14) - AI Agents Disrupt Tax(07:16) - Billable Hour Pressure(09:00) - Advisory Future Forecast(10:14) - Intuit Stock Shock(12:29) - TurboTax vs Tax Pros(17:31) - Intuit Layoffs Strategy(20:04) - Trump IRS Settlement(24:59) - PCAOB SEC Shakeup(27:33) - OnPay Payroll Pitch(28:42) - IRS Mystery Payments(30:48) - Busy Season Burnout(33:35) - California SaaS Tax Plan(34:54) - Big Four AI Hallucinations(36:48) - Are Consultants Replaceable(40:03) - AI Job Loss Chart(43:50) - Maxima Close Automation(45:12) - Musk Tax Return Training(46:03) - SpaceX IPO Breakdown(50:11) - CPE and Listener Q&A(52:51) - Wrap Up and Shoutouts

    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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  • Is AI really the next Google—or are investors repeating the last tech bubble? Blake and David dig into OpenAI’s legal win, the accounting mechanics behind soaring AI valuations, and why cloud credits and paper gains may be inflating the market. They also explore what could make AI tools actually sticky for businesses, from workflow automation to personal finance and small-business use cases, and what all of this means for accountants.

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    Chapters
    (00:00) - TAP 488(00:22) - Cash Flow Forecast Debate(00:29) - Road Show Updates(00:56) - Conference Rebrand News(01:31) - Nasdaq AI Summit Preview(04:29) - Livestream Check In(05:14) - Musk vs OpenAI Ruling(07:25) - AI Bubble Warning Signs(10:47) - Roundtrip Accounting Explained(15:38) - Paper Profits Hit Big Tech(18:28) - Do AI Giants Have Moats(27:15) - ChatGPT Personal Finance Push(30:54) - Agentic App Platforms(31:44) - Query Volume As Moat(33:00) - Claude Small Business Suite(35:20) - Cash Flow Forecast Debate(37:02) - AI Tax Workbook Example(41:03) - Personal Finance Is A Hobby(44:14) - Synthetic And Bench Lessons(47:16) - Why GLs Still Matter(50:43) - Klarna Rehires Humans(52:45) - Token Prices Will Rise(54:07) - Wrap Up And Next Time

    Show Notes

    Jury Dismisses Elon Musk's Lawsuit Against OpenAI Over Statute of Limitations

    https://www.technologyreview.com/2026/05/18/1137488/elon-musk-suit-openai-verdict/

    OpenAI Closes $122 Billion Funding Round, Largest in Silicon Valley History

    https://siliconangle.com/2026/03/31/openai-just-closed-record-breaking-122b-funding-round-brings-value-852b/


    Alphabet and Amazon Stakes in Anthropic Boost Profits by Billions

    https://www.bloomberg.com/news/articles/2025-10-31/alphabet-amazon-stakes-in-anthropic-boost-profit-by-billions


    Half of Google's and Amazon's 'Blowout AI Profits' Came From a Stake in Anthropic

    https://fortune.com/2026/04/30/google-amazon-ai-profits-anthropic-stake-bubble-earnings-2026/


    What Microsoft's 10-Q Says About OpenAI

    https://om.co/2026/05/01/what-microsofts-10-q-says-about-openai/


    OpenAI Launches ChatGPT for Personal Finance, Will Let You Connect Bank Accounts

    https://techcrunch.com/2026/05/15/openai-launches-chatgpt-for-personal-finance-will-let-you-connect-bank-accounts/


    Introducing Claude for Small Business

    https://www.anthropic.com/news/claude-for-small-business


    Sasha Orloff (Puzzle) LinkedIn Post: Klarna, AI Agent Costs, and Accounting Quality Risk

    https://www.linkedin.com/in/sashaorloff


    Klarna Reverses Course on AI Customer Support, Resumes Human Hiring

    https://www.customerexperiencedive.com/news/klarna-reinvests-human-talent-customer-service-AI-chatbot/747586/


    Khosla Ventures Is Betting $10M on Ian Crosby, Whose Last Startup Bench Imploded

    https://techcrunch.com/2026/05/14/khosla-ventures-is-betting-10m-on-ian-crosby-whose-last-startup-bench-imploded/


    How Intuit Plans to Ride Out the 'SaaS-pocalypse' (CFO Brew Interview with CTO Alex Balazs)

    https://www.cfobrew.com/stories/2026/04/14/intuit-cto-alex-balazs-saas-pocalypse

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  • Could public companies stop reporting every quarter? Blake and David break down the SEC’s push toward optional semiannual reporting, OpenAI’s new consulting arm, and what both moves could mean for accountants. They also cover tariff refund accounting, audit lawsuits, AI outperforming doctors in diagnosis tests, and why accountants may be better positioned than ever to build software and solve higher-value problems.

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    OnPay - http://accountingpodcast.promo/onpay
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    Chapters
    (00:00) - TAP 487(02:52) - Semiannual reporting shift(06:46) - OpenAI enters consulting(09:59) - True cost of Iran war(15:40) - Xero founder scandal(18:42) - Tariffs and refund accounting(24:51) - WNBA millionaire tax myth(28:18) - NYC pied a terre tax(31:42) - Education loans and accounting(34:58) - Chat Prompts Cyber Accounting(36:15) - PwC Audit Scandal Lawsuit(38:17) - BDO First Brands Fallout(40:50) - PCAOB QC Rule Debate(44:34) - RSM Layoffs Audit Demand(46:54) - AI Beats ER Doctors(49:18) - Chegg Disrupted By AI(51:13) - Rethinking Education Model(53:17) - Accountants As Vibe Coders(56:55) - Build Accounting In Excel(01:01:44) - Wrap Up CPE And Travel

    Show Notes

    SEC, FASB Prepare for Semi-Annual Reporting Option

    https://www.accountingtoday.com/news/sec-fasb-prepare-for-semi-annual-reporting-option

    OpenAI Launches the OpenAI Deployment Company to Help Businesses Build Around Intelligence

    https://openai.com/index/openai-launches-the-deployment-company/


    Opinion | The Iran War Will Cost Trillions

    https://www.nytimes.com/2026/05/08/opinion/hegseth-war-cost.html


    Global Economic Conditions Survey: Q1 2026

    https://www.accaglobal.com/us/en/professional-insights/global-economics/gecs-q1-2026.html


    Xero Founder Sir Rod Drury Returns New Zealander of the Year Award Amid Misconduct Claims

    https://www.rnz.co.nz/news/business/594669/xero-founder-sir-rod-drury-returns-new-zealander-of-the-year-award-amid-misconduct-claims


    Refunds on Trump Tariffs Pose Accounting Dilemmas for Companies

    https://news.bloombergtax.com/financial-accounting/refunds-on-trump-tariffs-pose-accounting-dilemmas-for-companies


    WNBA Star Kelsey Plum Shows Embarrassing Lack of Tax Knowledge

    https://thespun.com/wnba/wnba-star-kelsey-plum-shows-embarrassing-lack-of-tax-knowledge


    Column: WNBA Star Kelsey Plum Is Taking Heat for Getting California Tax Law Wrong. But Don't Blame Her

    https://www.cpapracticeadvisor.com/2026/05/06/column-wnba-star-kelsey-plum-is-taking-heat-for-getting-california-tax-law-wrong-but-dont-blame-her/182897/


    New York's Pied-a-Terre Tax Sets Up Legal Fight Over Values

    https://www.cnbc.com/2026/04/24/new-york-pied-a-terre-tax.html


    Education Dept. Rejects Accounting as Professional Degree

    https://www.accountingtoday.com/news/education-dept-rejects-accounting-as-professional-degree


    Corporate Travel's Accounting Shock: What It Means for PwC and the Wider Industry

    https://www.corporatekeysaustralia.com.au/accommodation/news/corporate-travels-accounting-shock-what-it-means-for-pwc-and-the-wider-industry


    First Brands Creditor Sues Auditor BDO Over Missed Red Flags

    https://news.bloombergtax.com/financial-accounting/first-brands-creditor-sues-auditor-bdo-over-missed-red-flags


    Layoff Watch '26: RSM Trims Down in Audit

    https://www.goingconcern.com/layoff-watch-26-rsm-trims-down-in-audit/


    AI Is Starting to Beat Doctors at Making Correct Diagnoses

    https://www.science.org/content/article/ai-starting-beat-doctors-making-correct-diagnoses


    Chegg Was Dying Way Before ChatGPT – Chatbots Just Dealt the Fatal Blow

    https://www.barchart.com/story/news/1744436/chegg-was-dying-way-before-chatgpt-chatbots-just-dealt-the-fatal-blow


    Anthropic's Boris Cherny: Why Coding Is Solved, and What Comes Next

    https://www.youtube.com/watch?v=SlGRN8jh2RI


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  • Sponsors
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    Chapters
    (00:00) - TAP 486(02:25) - Firm of One AI Tax(04:39) - Automating Firm Ops(09:35) - Claude Connectors Tested(17:45) - Sage Buys Doyen AI(19:48) - AI Efficiency Paradox(22:06) - Vibe Coding for CAS(26:06) - KPMG Federal Audit Exit(29:02) - Tariff Refund Lawsuits(31:15) - Tariffs and Job Losses(33:01) - IRS Lawsuit Snag(33:28) - Hearing Conflict Question(33:49) - Nonprofit Form 990 Shakeup(37:30) - Autofill Tax Return Bill(38:54) - IRS Whistleblower Boost(40:38) - Fed Nominee And Rates(42:39) - Jobs Data Doesn’t Add Up(44:28) - Intuit Hiring And Benefits(47:26) - Canopy AI Coworker Agents(52:34) - AI Meeting Notes To Tasks(54:58) - Procrastination Pays In AI(58:42) - Wrap Up CPE And Events

    Show Notes

    The 2026 Best Accounting Firms for Technology

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


    AI Can Boost Productivity, but Who Sustains the Customer Economy?

    https://www.accountingtoday.com/opinion/ai-can-boost-productivity-but-who-sustains-the-customer-economy


    Sage Acquires Doyen AI to Help SMBs Migrate and Go Live Faster with AI

    https://www.sage.com/en-us/news/press-releases/2026/04/sage-acquires-doyen-ai-to-help-smbs-migrate-and-go-live-faster-with-ai/


    KPMG Closes U.S. Federal Audit Practice, Trims Advisory Staff

    https://www.accountingtoday.com/news/kpmg-closes-u-s-federal-audit-practice-trims-advisory-staff


    Gamers Sue Nintendo Over Tariff Refunds

    https://www.gamefile.news/p/gamers-sue-nintendo-over-tariff-refunds


    No, Tariffs Are Not Strengthening the Economy

    https://fortune.com/2026/04/29/tariffs-not-strengthening-economy-trump-trade-war-data/


    Trump's $10 Billion IRS Suit Hits Snag with Skeptical Judge

    https://www.cpapracticeadvisor.com/2026/04/27/trumps-10-billion-irs-suit-hits-snag-with-skeptical-judge/182256/


    IRS to Revamp Form 990 to Require More Info from Charities

    https://www.accountingtoday.com/news/irs-to-revamp-form-990-to-require-more-info-from-charities


    Congressman Introduces Bill to Autofill Tax Forms

    https://www.accountingtoday.com/news/congressman-introduces-bill-to-autofill-tax-forms


    House Passes IRS Whistleblower Program Improvement Act

    https://www.accountingtoday.com/news/house-passes-irs-whistleblower-improvement-act


    Accountant Job Outlook & Demand Report 2026

    https://www.intuit.com/blog/innovative-thinking/accountant-job-outlook-demand-report/


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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

  • What does it mean when Big Four partners can be demoted—and AI still gets 1 in 5 accounting tasks wrong? Blake and David unpack KPMG’s audit partner cuts, EY and KPMG’s quiet partner demotions in the UK, PwC’s return-to-office push, and why firms like Decimal are rethinking tech-driven bookkeeping. They also debate AI’s limits in accounting, explore the future of CPE after a surprising Nasba warning, and explain what these shifts mean for accountants building their careers.

    Sponsors
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
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    Chapters
    (00:00) - TAP 485(01:47) - Bookkeeping Market Shakeup(02:38) - Decimal Pivots to Franchising(05:31) - AI Accuracy Reality Check(07:57) - Inventory Counts Still Human(10:28) - H&R Block Goes Year Round(11:55) - AI CEO Experiments and Limits(16:34) - Earmark Sponsor and NASBA Letter(21:37) - Context and CPE Reform Debate(26:11) - CPE Checkbox Culture(28:11) - Fixing CPE With AI(32:07) - Live Chat and Teams CPE(34:37) - Sponsor OnPay Break(35:51) - Big Four Partner Cuts(41:27) - AI Predicts Misstatements(43:31) - Sponsor Fishbowl Break(44:55) - Where Accountants Are Missing(48:39) - 150 Hour Rule Changes(49:19) - Wrap Up and Thanks

    Show Notes

    The Best AI Model Still Fails 1 in 5 Accounting Tasks

    https://www.cfo.com/news/the-best-ai-model-still-fails-1-in-5-accounting-tasks-Claude-Opus-OpenAI-GPT/818100/


    DualEntry AI Accounting Benchmark (Claude Opus 4.7 Results)

    https://www.dualentry.com/blog/claude-opus-4-7-accounting-ai-benchmark-results


    The Least Glamorous Side of Accounting That Still Can't Be Automated

    https://controllerscouncil.org/the-least-glamorous-side-of-accounting-that-still-cant-be-automated/


    Decimal Sells Its Accounting Firm to Franchise the Operating System Behind It

    https://www.prnewswire.com/news-releases/decimal-sells-its-accounting-firm-to-franchise-the-operating-system-behind-it-302753690.html


    Collective Acquires Open Ledger to Accelerate All-in-One Financial Solution for Solopreneurs

    https://www.axios.com/pro/fintech-deals/2026/04/22/collective-open-ledger-acquisition


    H&R Block Wants to Be More Than a Tax Company

    https://fortune.com/article/hr-block-tax-year-round-financial-adviser-fintech-innovation/


    An AI Agent Takes Over a Store and Orders Too Many Candles

    https://www.bloomberg.com/news/articles/2026-04-23/an-ai-agent-takes-over-a-store-and-orders-too-many-candles-mobwrfw2


    Customers Bank CEO Uses AI Clone on Earnings Call, Signs OpenAI Deal

    https://www.cnbc.com/2026/04/27/openai-partners-with-customers-bank-in-push-to-automate-finance.html


    KPMG Lays Off 10% of US Audit Partners

    https://www.accountingtoday.com/news/kpmg-lays-off-10-of-us-audit-partners


    KPMG and EY Demote Partners in End of Job-for-Life Model in UK

    https://www.irishtimes.com/business/work/2026/04/24/kpmg-and-ey-demote-partners-in-end-of-job-for-life-model-in-uk/


    PwC Tells Remote Tax Staff to Get Their Butts Into the Office

    https://www.goingconcern.com/pwc-tells-remote-tax-staff-to-get-their-butts-into-the-office/


    PwC Pays $166 Million to Settle HK Evergrande Audit Probe

    https://www.bloomberg.com/news/articles/2026-04-23/pwc-agrees-to-pay-166-million-to-close-evergrande-probe-in-hk


    Predicting Material Misstatements Using Machine Learning (Phys.org summary)

    https://phys.org/news/2026-predicting-material-misstatements-machine-learning.html


    Is Your State Running Low on Accountants? (Sam's List Accountant Shortage Index)

    https://www.cpapracticeadvisor.com/2026/04/21/is-your-state-running-out-of-accountants/181991/


    Kentucky Passes CPA Licensure Modernization Bill

    https://www.accountingtoday.com/news/kentucky-passes-cpa-pathway-bill


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  • Can the accounting profession grow with fewer people? Blake Oliver and David Leary unpack how AI is reshaping firms, from PwC Australia’s staffing cuts and rising partner pay to new questions about performance metrics, CPA pathways, and the future of CAS. They also cover the IRS’s tax season recap, tariff refunds, Deloitte’s fake AI citations, and why firms need better ways to measure value in an AI-driven world.

    Sponsors
    Digits - http://accountingpodcast.promo/digits
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    OnPay - http://accountingpodcast.promo/onpay
    Wurthy - http://accountingpodcast.promo/wurthy


    Chapters
    (00:00) - Show kickoff and tax season(01:05) - Sponsor Digits AI bookkeeping(02:45) - IRS CEO tax season recap(06:18) - Direct File and enforcement debate(07:54) - Tariff refund portal CAPE(09:54) - IRS CI pulled to ICE then back(11:49) - CAS growth engine for firms(15:12) - New firm metrics beyond hours(24:02) - AI ROI metrics survey(25:30) - Sponsor Cloud Staffing and OnPay(29:45) - Rethinking Course Requirements(31:44) - States Drop 150 Hours(33:16) - Experience Sign Off Hurdles(33:59) - Geopolitical Risk Survey(35:25) - Deloitte Fake Citations(38:46) - Big Four Cuts and Pay(41:51) - Worthy Sponsor Break(43:23) - ARR Metric Trouble(48:37) - Shorter Contracts Shift(49:49) - Ilhan Omar Filing Error(53:18) - Wrap Up and Free CPE

    Show Notes

    IRS CEO Touts Successful Tax Season Despite Cutbacks

    https://www.accountingtoday.com/news/irs-ceo-touts-successful-tax-season-despite-cutbacks


    The CAPE Tariff Refund System Is Here — Are You Ready?

    https://globaltrainingcenter.com/the-cape-tariff-refund-system-is-here-is-your-global-trade-team-ready/


    IRS Shakes Up Leadership Ahead of Tax Season

    https://www.accountingtoday.com/news/irs-shakes-up-leadership-ahead-of-tax-season


    Looking to Grow Like a Top 100 Firm? Try CAS

    https://www.accountingtoday.com/news/looking-to-grow-like-a-top-100-firm-try-cas


    Accounting Firms Need New Metrics for an Old Model

    https://www.accountingtoday.com/opinion/accounting-firms-need-new-metrics-for-an-old-model


    Only 18% of Organizations Track AI ROI

    https://www.accountingtoday.com/news/only-18-of-organizations-track-ai-roi


    CPA Licensing Laws Are Constraining Accounting Firms in the AI Era

    https://news.bloombergtax.com/tax-insights-and-commentary/accounting-firms-schools-must-craft-next-generations-future


    Maryland Approves CPA Licensure Pathways Bill

    https://www.accountingtoday.com/news/maryland-approves-cpa-licensure-pathways-bill


    Nevada Implements CPA Licensure Changes

    https://www.accountingtoday.com/news/nevada-implements-cpa-licensure-changes


    Accountants Worried About War in Iran

    https://www.accountingtoday.com/news/accountants-worried-about-war-in-iran


    Accounting Watchdog to Investigate Deloitte Over Fake Citations in $1.6M Healthcare Report

    https://theindependent.ca/news/lji/accounting-watchdog-to-investigate-deloitte-over-fake-citations-in-1-6-million-healthcare-report/


    PwC Australia Profit Drops, But Fewer Partners Split the Pot

    https://news.bloombergtax.com/daily-tax-report-international/pwc-australia-profit-drops-but-fewer-partners-split-the-pot


    Deloitte US to Cut Benefits for Segment of Employees Amid Job Architecture Reshuffle

    https://www.hr-brew.com/stories/2026/04/20/deloitte-us-to-cut-benefits-for-segment-of-employees-amid-job-architecture-reshuffle


    What Is ARR? Behind the Least-Trusted Metric of the AI Era

    https://www.bloomberg.com/news/articles/2026-04-07/what-is-arr-behind-the-least-trusted-metric-of-the-ai-era


    AI Tools Are Upending Typical Software Contracts

    https://www.bloomberg.com/news/newsletters/2026-03-25/ai-tools-are-upending-typical-software-contracts


    Rep. Ilhan Omar Cites Accounting Error in $30 Million Financial Disclosure

    https://www.washingtontimes.com/news/2026/apr/18/rep-ilhan-omar-cites-accounting-error-30-million-financial-disclosure/


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  • What happens when AI starts doing the audit work itself? Blake and David dig into KPMG’s prediction that routine audit testing could soon happen with almost no human auditors directly involved. They also cover the IRS’s unfinished AI projects, the end of Direct File, new tax-on-tips rules, and why firms investing more in marketing are growing faster. Press play to hear what these shifts could mean for accountants, firms, and clients.

    Sponsors
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    OnPay - http://accountingpodcast.promo/onpay
    Wurthy - http://accountingpodcast.promo/wurthy


    Chapters
    (00:00) - Audits Without Humans(00:22) - Tax Day Show Kickoff(02:30) - When Tax Day Hit Post Office(04:34) - E Filing Ends The Party(05:23) - This Week Top Stories(05:58) - Warehouse Fire Accounting Impact(08:52) - Compliance Time Cost(11:04) - No Tax On Tips Rules(13:44) - IRS AI Projects Stall(14:43) - Direct File Cost Debate(17:30) - Xero Os Buzzword Critique(20:32) - Can Ai Replace QuickBooks(21:23) - Reddit Claude Accounting System(22:45) - Firms Lose Stack Control(23:27) - AI Makes More Cleanup(23:58) - Tidwell Spreadsheet Accounting(25:13) - Tax Preparer Fraud Cases(27:17) - Big Four Audit Automation(30:58) - EY Office Mandate and Careers(34:01) - Firm Growth Marketing and AI(36:19) - Audit Lawsuits and Penalties(40:19) - Juno AI Tax Prep Funding(42:27) - Workers Skipping AI Review(44:36) - Agentic Frameworks and Omni(47:19) - Wrap Up and Free CPE

    Show Notes

    How Tax Day Turned Into Party Night at the Post Office

    https://www.history.com/articles/tax-day-parties

    Americans to Spend 11.6 Billion Hours Completing Federal Compliance Forms

    https://www.cpapracticeadvisor.com/2026/03/16/americans-to-spend-11-6-billion-hours-completing-federal-compliance-forms/179866/


    IRS Publishes List of Jobs That Qualify for 'No Tax on Tips' Provision

    https://www.cnbc.com/2026/04/13/irs-tax-on-tips-big-beautiful-bill.html


    IRS AI Projects Fall by the Wayside Due to Staff Cuts

    https://www.accountingtoday.com/news/irs-ai-projects-fall-by-the-wayside-due-to-staff-cuts


    IRS Inflated Direct File Costs by $45 Million in 2025

    https://www.cpapracticeadvisor.com/2026/03/25/irs-inflated-direct-file-costs-by-45-million-in-2025/180237/


    Xero OS: Your Operating System for the Future of Autonomous Finance

    https://blog.xero.com/news-events/xero-os-ai-native-operating-system/


    Tidwell — MCP Accounting Server (Reddit reference)

    https://www.tidwell.com


    Warehouse Worker Charged in $500M Arson Attack at Kimberly-Clark Distribution Center

    https://abc7.com/post/employee-arrested-arson-kimberly-clark-distribition-center-destroyed-massive-fire-ontario/18851549/


    New Jersey Tax Preparer Sentenced in Largest COVID-19 Tax Relief Fraud Case

    https://www.justice.gov/usao-nj/pr/new-jersey-man-sentenced-prison-largest-covid-19-tax-relief-fraud-scheme-country


    Pennsylvania Tax Preparer Jessica Cordero Faces Federal Charges in New Fraud Scheme

    https://www.justice.gov/usao-edpa/pr/allentown-woman-and-two-others-charged-federal-court-wire-fraud-and-aggravated-identity


    In This Critical Part of Audits, the Accountant's Role Is Shrinking Fast

    https://www.wsj.com/finance/accounting/auditors-ai-kpmg-pwc-ey-7f07d3a5


    KPMG Plans to Cut Up to 440 Audit Jobs in UK

    https://www.bloomberg.com/news/articles/2026-03-27/kpmg-set-to-shed-hundreds-of-auditors-as-attrition-remains-low


    EY Requiring U.S. Tax Staff to Work In-Person 12 Days a Month

    https://www.accountingtoday.com/news/ey-requiring-us-tax-staff-to-work-in-person-12-days-a-month


    AI Is Changing How EY Recruits, Develops and Promotes Employees

    https://www.businessinsider.com/ey-ai-talent-career-paths-accounting-2026


    High-Growth Accounting Firms Spend Twice as Much on Marketing

    https://hingemarketing.com/blog/story/marketing-financial-services-the-2025-forecast


    Evergrande Liquidators and PwC Head to Court

    https://www.accountingtoday.com/news/evergrande-liquidators-and-pwc-head-to-court


    Ontario Securities Commission Accuses KPMG of Botching Audits for Bridging Finance

    https://www.accountingtoday.com/news/ontario-securities-commission-accuses-kpmg-of-botching-audits-for-bridging-finance


    Juno Raises $12M Seed to Scale AI Tax Preparation Platform

    https://www.cpapracticeadvisor.com/2026/04/13/juno-raises-12m-seed-to-scale-ai-tax-preparation-platform-that-automates-90-of-busy-work/181502/


    AI Slop Survey: A Third of Workers Rarely Check AI Output Before Using It

    https://www.cpapracticeadvisor.com/2026/04/08/ai-slop-survey-a-third-of-workers-rarely-check-ai-output-before-using-it/181191/


    Agentic AI Frameworks and Artifact's Omni Platform Launch

    https://www.artifact.build


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  • What happens when AI starts doing more than answering questions? Blake and David dig into Perplexity’s move into tax prep and bookkeeping, the IRS testing Palantir to help select audit targets, and why many firms still aren’t seeing real ROI from AI. They also unpack the surprising success of Trump accounts and what all of this could mean for accountants, firm workflows, and the future of the profession.

    Sponsors
    OnPay - http://accountingpodcast.promo/onpay
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    REFRAME 2026 - http://accountingpodcast.promo/reframe2026
    Wurthy - http://accountingpodcast.promo/wurthy


    Chapters
    (00:00) - TAP 482(02:37) - Trump Accounts Boom(07:22) - CPE With Earmark(08:38) - Perplexity Targets Taxes(12:32) - AI Agents And Moats(23:43) - Claude Cowork Bookkeeping(30:25) - Digits Outcome Pricing(30:58) - Digits Pay For Performance(31:25) - Zero Touch Guarantee(31:56) - Pricing Power Debate(32:20) - Switching GL Friction(33:11) - Reframe Conference Sponsor(34:26) - AI Security Banter(35:14) - IRS Palantir Snap Audits(39:09) - AI ROI Wrong Math(44:27) - Find The Bottleneck(46:14) - Automate Client Intake(48:02) - Claude PBC Workflow(54:40) - Weekly Close Discipline(56:13) - DHS Tax Extension Story(57:48) - Mentoring And Webinars(59:15) - Future Firm Tech Stack(01:01:45) - Wrap Up And CPE

    Show Notes

    4 Million Children Have Been Signed Up for Trump Accounts with 1 Million Claiming the $1,000 Pilot Program Contribution

    https://www.irs.gov/newsroom/4-million-children-have-been-signed-up-for-trump-accounts-with-1-million-claiming-the-1000-pilot-program-contribution

    Introducing Computer for Taxes

    https://www.perplexity.ai/hub/blog/introducing-computer-for-taxes

    The IRS Wants Smarter Audits. Palantir Could Help Decide Who Gets Flagged

    https://dnyuz.com/2026/03/30/the-irs-wants-smarter-audits-palantir-could-help-decide-who-gets-flagged/

    Digits Announces Outcome-Based Pricing

    https://www.accountingtoday.com/news/digits-announces-outcome-based-pricing

    Your AI Business Case Is Built on the Wrong Math

    https://www.cfo.com/news/your-ai-business-case-is-built-on-the-wrong-math-throughput-accounting-productivity/816014/

    Treasury and IRS Announce Tax Filing Relief to DHS Personnel

    https://home.treasury.gov/news/press-releases/sb0431


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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

  • Can AI really prepare a tax return without a human touching the keyboard? Blake and David dig into a wave of new accounting tools that promise exactly that, from AI tax prep and bookkeeping agents to month-end automation. They’re joined by Kenji Kuramoto of Basis to discuss what this means for firms, pricing, and jobs. Plus: the U.S. government’s worsening balance sheet, Tether’s long-awaited audit, and why token costs may become accounting’s next big metric.

    Sponsors
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    OnPay - http://accountingpodcast.promo/onpay
    UNC - http://accountingpodcast.promo/unc


    Chapters
    (00:00) - TAP 481(02:34) - US Insolvency Breakdown(06:04) - Household Budget Analogy(07:49) - GAO Disclaimer Explained(08:37) - AI Tax Prep Agents(11:45) - Kenji Joins the Show(15:07) - Kenji New Role at Basis(19:40) - Basis Agents for CAS(25:36) - AI Skills and Pricing Shift(28:04) - Token Billing and FinOps(33:55) - Tokens Not Timesheets(34:17) - Delve Compliance Fallout(36:18) - Xero Adds Claude AI(38:16) - Who Really Owns Data(41:06) - Ramp Accounting Agent(45:19) - Ramp Budgets Reality Check(48:27) - Canopy Bookkeeping Module(53:11) - Billcom Agents Soapbox(55:09) - Audit Tech Fundraising(56:37) - Tether Finally Gets Audited(59:52) - Costco Tariff Refund Lawsuit(01:02:16) - Wrap Up And CPE

    Show Notes

    The Treasury just declared the U.S. insolvent. The media missed it.

    https://fortune.com/2026/03/23/us-government-insolvent-fiscal-crisis-fix/

    TaxGPT AI agent aims to complete the whole tax return

    https://www.accountingtoday.com/news/taxgpt-touts-ai-that-automatically-completes-returns-from-start-to-finish

    As Tax Deadline Approaches, Consumers Are Going to AI Before Filing

    https://www.pymnts.com/taxes/2026/as-tax-deadline-approaches-consumers-are-going-to-ai-before-filing/

    AI Efficiency Gains Push Accounting Firms to Reimagine Pricing

    https://news.bloomberglaw.com/ip-law/ai-efficiency-gains-push-accounting-firms-to-reimagine-pricing

    Accounting Jobs Requiring AI Skills Jump 67%

    https://www.accountingtoday.com/news/accounting-jobs-requiring-ai-skills-jump-67

    Xero and Anthropic Collaborate to Bring AI-Powered Financial Intelligence to Millions of Small Businesses

    https://www.businesswire.com/news/home/20260326956055/en/Xero-and-Anthropic-Collaborate-to-Bring-AI-Powered-Financial-Intelligence-to-Millions-of-Small-Businesses

    Ramp Launches Accounting Agent to Automate Bookkeeping with Real-Time Close

    https://www.prnewswire.com/news-releases/ramp-launches-accounting-agent-to-automate-bookkeeping-with-real-time-close-302686214.html

    Ramp Launches Ramp Budgets

    https://www.prnewswire.com/news-releases/ramp-launches-ramp-budgets-302667840.html

    Canopy Unveils Canopy Bookkeeping to Eliminate Month-End Friction for Accounting and CAS Teams

    https://www.morningstar.com/news/business-wire/20260211348515/canopy-unveils-canopy-bookkeeping-to-eliminate-month-end-friction-for-accounting-and-cas-teams

    Canopy Expands Tax Workflow With AI-Powered Tax Preparation Through New Filed Integration

    https://www.getcanopy.com/blog/canopy-expands-tax-workflow-with-ai-powered-tax-preparation-through-new-filed-integration

    Double AI Journal Entries

    https://doublehq.com/ai-journal-entries/

    Tech News: Ramp, Canopy Both Announce AI-Powered Bookkeeping Solutions (includes Bill.com AI agents coverage)

    https://www.accountingtoday.com/list/tech-news-ramp-canopy-both-announce-ai-powered-bookkeeping-solutions

    Exclusive: Founded By 2 Brothers In Their 20s, YC-Backed Denki Raises $4.1M To Automate Financial Audits

    https://news.crunchbase.com/venture/yc-backed-denki-raise-financial-audit-automation-ai/

    Tether Taps Big Four Firm KPMG for First Financial Audit of $184 Billion Stablecoin Issuer

    https://www.theblock.co/post/395423/tether-taps-kpmg-for-first-financial-audit

    Americans Are Demanding Refunds from the $180 Billion in Tariffs They Paid, Including Suing Companies Like Costco

    https://fortune.com/2026/03/13/americans-demanding-tariff-refunds-suing-costco-fedex/

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  • Can AI really handle accounting and tax work—or is it just creating new ways to fake compliance? Blake and David dig into allegations of fraudulent SOC 2 reports, how taxpayers are actually using AI for tax prep, and why tools like Claude are creeping into finance workflows. They also cover FAA staffing risks, threats to state accountancy boards, and what listeners should watch as AI reshapes trust in the profession.

    Sponsors
    Digits - http://accountingpodcast.promo/digits
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    OnPay - http://accountingpodcast.promo/onpay
    UNC - http://accountingpodcast.promo/unc


    Chapters
    (00:00) - TAP 480(01:28) - Sponsor Digits Overview(02:54) - LaGuardia Crash Breakdown(05:36) - Shutdown Staffing Fallout(07:58) - Livestream and CPE Plug(08:49) - Delve SOC 2 Allegations(15:57) - How Fake Audits Happen(20:49) - Sponsor Cloud Staffing(22:00) - Is Anyone Using AI(24:02) - AI for Tax Prep Examples(35:14) - AI Tax Advice Limits(36:04) - Tech Creates More Cleanup(36:41) - OnPay Payroll Sponsor(37:53) - Games To Beat Busy Season(40:42) - Florida Board Threat Averted(44:02) - UNC MAcc Sponsor(45:20) - Guess The Finance App(46:47) - Claude Targets Finance Workflows(50:29) - Will AI Replace The GL(55:07) - Women Partners Progress(01:00:50) - Wrap Up And CPE

    Show Notes

    Air Traffic Audio Appears to Show Tower Was Dealing With Incident Before Crash (New York Times via DNYUZ)

    https://dnyuz.com/2026/03/23/air-traffic-audio-appears-to-show-tower-was-dealing-with-incident-before-crash/

    Delve — Fake Compliance as a Service — Part I (DeepDelver on Substack)

    https://deepdelver.substack.com/p/delve-fake-compliance-as-a-service

    Delve Accused of Misleading Customers with 'Fake Compliance' (TechCrunch)

    https://techcrunch.com/2026/03/22/delve-accused-of-misleading-customers-with-fake-compliance/

    What 81,000 People Want from AI (Anthropic)

    https://www.anthropic.com/research/what-people-want-from-ai

    WSJ Readers Share How They Are Using AI for Tax Prep (Wall Street Journal via TaxProf Blog)

    https://taxprofblog.aals.org/2026/03/09/wsj-readers-share-how-they-are-using-ai-for-tax-prep/

    10 Fun Games to Play at Work and Their Impact on Productivity (Small Business Trends)

    https://smallbiztrends.com/games-to-play-at-work/

    FICPA Legislative Update: End of 2026 Session — HB 607 Did Not Advance (Florida Institute of CPAs)

    https://www.ficpa.org/news/1cee5313-ce07-47f2-841f-48a95344f6f5:legislative-update-end-of-session-still-pending

    Claude for Financial Services (Anthropic)

    https://www.anthropic.com/financial-services

    Glass Ceiling Shattered? Female Lead Engagement Partners in S&P 500 Audits (The CPA Journal)

    https://www.cpajournal.com/2026/03/13/glass-ceiling-shattered/

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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

  • Will AI actually take accountants’ jobs—or just change what their work looks like? Blake and David unpack the gap between AI hype and reality, from a LinkedIn challenge that found zero accountants replaced by AI to how firms like PwC and EY are shifting strategy. They also explore probabilistic audit opinions, AI agents in accounting workflows, and what professionals can do now to stay ahead.

    Sponsors
    OnPay - http://accountingpodcast.promo/onpay
    UNC - http://accountingpodcast.promo/unc


    Chapters
    (00:00) - TAP 479(02:27) - Auditor Karaoke Protest(03:58) - Baby Where My Audit(07:14) - Reactions and Afroman(10:19) - Probabilistic Audit Opinions(14:57) - BDO Lawsuit and Liability(18:52) - Super Micro Fraud Signals(24:19) - Deterministic AI Checklists(30:16) - Checklist Driven AI Agents(31:28) - How LLMs Differ From Brains(33:00) - Puzzle Functions And Guardrails(36:06) - Prompting For Clarifying Questions(36:48) - UNC MAcc Sponsor Break(38:30) - PwC Goes AI First(41:46) - EY Bets On CPA Talent(43:27) - AI Exposure Index Reality Check(47:40) - Will Accounting Jobs Disappear(50:23) - Coan Paradox And Rising Standards(52:43) - AI As A Career Upskill(55:20) - Who Is Losing Work To AI(56:23) - Livestream Chat And Wrap Up

    Show Notes

    Massachusetts Auditor DiZoglio Performs "Baby Where the Hell Is My Audit" Parody

    https://www.bostonglobe.com/2025/04/16/metro/diana-dizoglio-auditor-legislature-audit-democrats/

    Afroman Wins Defamation Lawsuit Filed by Ohio Police Officers

    https://www.cbsnews.com/news/afroman-wins-lawsuit-ohio-police-raid-music-videos/

    Would You Take a Probabilistic Audit Opinion?

    https://www.accountingtoday.com/opinion/would-you-take-a-probabilistic-audit-opinion

    BDO Faces Investor Lawsuit That Could Impact Other Firms

    https://www.accountingtoday.com/news/bdo-faces-investor-lawsuit-that-could-impact-other-firms

    Super Micro Computer Co-Founder Charged With Smuggling Nvidia AI Chips to China

    https://www.cnn.com/2026/03/19/politics/super-micro-computer-founder-charged-ai-chips-china

    Puzzle Launches AI Close for Accountants

    https://puzzle.io/blog/puzzle-accounting-ai

    PwC CEO: You Cannot Opt Out of AI

    https://www.accountingtoday.com/news/pwc-ceo-you-cannot-opt-out-of-ai

    EY Doubles CPA Exam Bonus to $10K

    https://www.accountingtoday.com/news/ey-doubles-cpa-exam-bonus-to-10k

    Anthropic AI Labor Market Impacts Report

    https://www.anthropic.com/research/labor-market-impacts

    Microsoft AI Chief Gives It 18 Months for All White-Collar Work to Be Automated

    https://fortune.com/2026/02/13/when-will-ai-kill-white-collar-office-jobs-18-months-microsoft-mustafa-suleyman/

    Only 14% of UK Finance Leaders See Traditional Accounting Skills as Valuable for Next Generation

    https://www.theglobalrecruiter.com/only-14-per-cent-of-finance-leaders-see-traditional-accounting-skills-as-valuable-for-next-generation/

    Accounting and Tax Staff Worry AI Threatens Jobs

    https://www.accountingtoday.com/news/accounting-and-tax-employees-feel-ai-threatens-job-prospects

    AI's First Substitution: Freelancers (Ramp Economics Lab)

    https://ramp.com/velocity/ai-labor-market-impact-freelancers

    Record Number of Companies Are Ditching Old CEOs for Younger, Less Experienced Executives

    https://finance.yahoo.com/news/fired-record-number-companies-ditching-152914066.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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  • What do tariffs, war, AI agents, and a collapsed accounting startup have in common? This week, Blake and David connect the dots between rising economic pressure and rapid tech change. They break down the lopsided cost of drone warfare, small businesses getting crushed by tariffs, AI tools handling tax and bookkeeping tasks, and new details on Botkeeper’s collapse. You’ll hear what these shifts could mean for accountants, firms, and the future of the profession.

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    Chapters
    (01:27) - Sponsor Break UNC(02:46) - War Costs and Drones(08:58) - GPT 5.4 for Accountants(11:13) - AI Agent Files City Tax(15:23) - Claude Skill for Tax Prep(17:11) - Sponsor Break OnPay(18:55) - Gemini Makes Theme Music(22:33) - Uber CEO AI Clone(24:22) - Botkeeper Collapse Follow Up(31:13) - QuickBooks Integration Doubts(31:53) - Cloud Accountant Staffing Spot(32:59) - KPMG Earnings Leak Theory(37:23) - Zapier AI Guardrails(39:43) - 401k Hardship Withdrawals Rise(43:02) - Tariff Refunds and AI Lawsuits(46:27) - Trump v Trump IRS Lawsuit(48:43) - IRS Union Contract Termination(50:01) - Direct File Act Returns(51:56) - Meta 16B Tax Fight(54:33) - Trump Accounts Auto Enrollment(56:13) - Accounting Degrees Loan Limits(57:39) - CPE App and Sign Off

    Show Notes

    Iran's Drones Cost a Fraction of the U.S. Weapons Shooting Them Down

    https://www.nytimes.com/2026/03/04/business/iran-drones-us-weapons-cost.html

    Introducing GPT-5.4

    https://openai.com/index/introducing-gpt-5-4/

    Breaking Up with TurboTax: How I Used Claude to File My Taxes for Free

    https://kachess.dev/taxes/ai/personal-finance/2026/02/27/breaking-up-with-turbotax.html

    Show HN: Claude Skill to Do Your Taxes

    https://news.ycombinator.com/item?id=47277164

    Enrico Palmerino Explains Botkeeper's Fall

    https://www.accountingtoday.com/news/enrico-palmerino-explains-botkeepers-fall

    Uber CEO Dara Khosrowshahi Has an AI Clone

    https://www.fastcompany.com/91500087/uber-ceo-dara-khosrowshahi-has-an-ai-clone

    KPMG-Audited Companies Are Trading Strangely on Polymarket

    https://eventwaves.substack.com/p/kpmg-audited-companies-are-trading

    Zapier Updates: AI Guardrails & Governance Controls

    https://zapier.com/blog/february-2026-product-updates/

    Record Numbers of Workers Are Raiding Their 401(k) Savings

    https://www.wsj.com/personal-finance/retirement/401k-hardship-withdrawals-record-vanguard-2025

    For Some Small Businesses, a Tariff Refund Isn't Worth the Pain of Pursuing It

    https://finance.yahoo.com/news/small-businesses-tariff-refund-isnt-worth-pain-pursuing-it.html

    Trump's IRS Lawsuit Offers Lessons on Privacy and Legal Process

    https://news.bloombergtax.com/tax-insights-and-commentary/trumps-irs-lawsuit-offers-lessons-on-privacy-and-legal-process

    Democrats Unveil Bill to Resurrect Direct File

    https://www.accountingtoday.com/news/democrats-unveil-bill-to-resurrect-direct-file

    I.R.S. Tactics Against Meta Open a New Front in the Corporate Tax Fight

    https://www.nytimes.com/2026/02/24/business/irs-meta-tax-ireland.html

    IRS Should Open Trump Accounts for Eligible Children Automatically, AICPA Says

    https://www.journalofaccountancy.com/news/2026/feb/irs-should-open-trump-accounts-for-eligible-children-automatically-aicpa-says/

    NASBA Urges U.S. Department of Education to Restore "Professional" Status for Accounting Degrees

    https://nasba.org/blog/2026/03/05/status-for-accounting-degrees/

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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

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

  • Can an AI prep a partnership return on its own? Blake and David dig into Basis’s $100M unicorn claim, Intuit’s OpenAI/Anthropic tie-ups and Claude Cowork, and what it means for firms. They also cover how to capitalize on tariff refund lawsuits, the Senate’s push to regulate tax preparers, and the SEC weighing twice-a-year reporting—plus a quick warning about the fake “IRS locker” scam. You’ll learn where AI helps now, what to watch, and how to advise clients.

    Sponsors
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    OnPay - http://accountingpodcast.promo/onpay
    UNC - http://accountingpodcast.promo/unc


    Chapters
    (00:00) - Welcome and Headlines(01:51) - Sponsor Cloud Staffing(03:10) - Tariffs Legal Fallout(05:50) - Refund Lawsuit Wave(09:02) - Basis AI Unicorn(15:23) - Intuit Earnings AI Blitz(25:59) - Claude Cowork Automation(32:16) - Managing Agents at Work(34:21) - AI PR Pay Boom(36:46) - AI Agents for Accounting(37:39) - SaaS Giants vs AI(39:01) - Finance Grade AI Trust(41:22) - IBM COBOL Shockwave(43:03) - Audit Enforcement Drop(44:34) - Regulating Tax Preparers(45:40) - Twice a Year Reporting(48:36) - Prediction Market Tax Bet(50:43) - Washington CPA Outsourcing(54:37) - IRS Onboarding Fumbles(55:32) - Crypto Fat Finger Disaster(01:00:01) - IRS Locker Scam Warning(01:02:13) - Livestream Q&A Wrap(01:06:19) - Book and Earmark Outro

    Show Notes

    Supreme Court Strikes Down Trump's Sweeping Tariffs

    https://www.nbcnews.com/politics/supreme-court/supreme-court-strikes-trumps-tariffs-major-blow-president-rcna244827

    Trump's New Tariffs Under Section 122 Are Probably Also Illegal

    https://edition.cnn.com/2026/03/01/business/trump-tariffs-supreme-court-section-122

    1,800+ Companies Suing for $130 Billion in Tariff Refunds

    https://www.entrepreneur.com/growing-a-business/1800-companies-are-suing-for-130b-in-tariff-refunds/503034

    AI-for-Accounting Startup Basis Hits $1.15 Billion Valuation

    https://www.bloomberg.com/news/articles/2026-02-24/ai-for-accounting-startup-basis-hits-1-15-billion-valuation

    Intuit and Anthropic Partner to Bring Custom AI Agents to Consumers and Businesses

    https://investors.intuit.com/news-events/press-releases/detail/1305/intuit-and-anthropic-partner-to-bring-trusted-financial-intelligence-and-custom-ai-agents-to-consumers-and-businesses

    Intuit Q2 2026 Earnings Call Transcript

    https://www.fool.com/earnings/call-transcripts/2026/02/26/intuit-intu-q2-2026-earnings-call-transcript/

    IBM Shares Plunge as Anthropic Touts COBOL Modernization Efforts

    https://www.cnbc.com/2026/02/23/ibm-is-the-latest-ai-casualty-shares-are-tanking-on-anthropic-cobol-threat.html

    AI Won't Replace Accounting Platforms — It Will Make Them More Important

    https://diginomica.com/ai-wont-replace-accounting-platforms-it-will-make-them-more-important

    Audit Enforcement Plummeted Last Year

    https://www.accountingtoday.com/news/audit-enforcement-plummeted-last-year

    Senate Finance Committee Proposes to Regulate Tax Preparers, Improve IRS Administration

    https://www.accountingtoday.com/news/senate-finance-committee-proposes-to-regulate-tax-preparers-improve-irs-administration

    SEC to Fast-Track Proposal for Semi-Annual Public Company Reporting

    https://www.cohenmilstein.com/sec-to-propose-rule-easing-financial-reporting-frequency-from-quarterly-to-semiannual/

    Tax Nerd Bets Life Savings Against DOGE on Kalshi — and Wins

    https://techcrunch.com/2026/02/25/an-accountant-won-a-big-jackpot-on-kalshi-by-betting-against-doge/

    Should We Be Concerned That More Than Half of New CPA Licenses in Washington State Went to International Candidates?

    https://www.goingconcern.com/should-we-be-concerned-that-more-than-half-of-new-cpa-licenses-issued-in-this-state-last-year-went-to-international-candidates/

    IRS Failed to Equip New Hires in 2024

    https://www.accountingtoday.com/news/irs-failed-to-equip-new-hires-in-2024

    South Korean Crypto Exchange Bithumb Accidentally Gives Away $40+ Billion in Bitcoin

    https://www.cnbc.com/2026/02/07/south-korean-crypto-firm-accidentally-sends-out-44-billion-in-bitcoin.html

    Michigan Man Loses $1 Million in IRS Impersonation Scam

    https://www.cpapracticeadvisor.com/2026/02/23/michigan-man-loses-1-million-in-irs-scam/178591/

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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 Podcas...

  • SCOTUS just struck down Trump’s global tariffs—so who gets the $133B back, and how can firms capture advisory fees helping clients claim refunds? Blake and David unpack importer-of-record refunds, contingency-fee questions, and why “that’s pure profit.” Plus: taxpayers’ trust in AI tax prep is falling, creators’ $205B economy is a prime niche, TurboTax’s Uber-to-the-office play, Big Law’s $3,400/hour AI squeeze, and Dawn Brolin’s nonprofit sending first-timers to conferences you can support.

    Sponsors
    Digits - http://accountingpodcast.promo/digits
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    OnPay - http://accountingpodcast.promo/onpay
    UNC - http://accountingpodcast.promo/unc


    Chapters
    (00:00) - TAP 476(02:53) - Who Gets the Tariff Refunds? Importer of Record & Profit Impact(05:28) - Big Opportunity for Accounting Firms: Tariff Refund Advisory & Fees(08:55) - Flashback Clip: We Called the Tariff Ruling Months Ago(12:59) - Sponsors + Trump’s Next Move: New Tariff Authority Workarounds(15:04) - Live Q&A: If Tariffs Were Passed to Buyers, Who Gets Paid Back?(16:46) - IRS Update: Average Refunds Up, But Median Still Unknown(18:13) - Taxpayers Trust AI Less for Filing + Creator Economy Tax Niche(22:13) - TurboTax + Uber Rides: The Customer Experience Arms Race(27:12) - Sponsor Break + Business Tax Shift: FASB Country-by-Country Disclosures(30:19) - IRS Still Drowning in Paper: Digitization Goals Missed(31:41) - Gambling Loss Deduction Cut to 90%: Why Break-Even Gamblers Still Owe Tax(32:58) - Skims vs. New Jersey: Sales Tax ‘Technical Error’ and the $200K Penalty(34:06) - Big Law’s Billable Hour Squeeze: AI Cuts Hours, Partners Jack Up Rates(36:12) - DIY Legal Work with ChatGPT: When a $30 Subscription Replaces a Lawyer(37:51) - Big Tech’s AI Data Centers Create a Depreciation Blind Spot for Investors(41:50) - KPMG Partner Fined for Using AI to ‘Cheat’ on an AI Exam(43:21) - Congress Targets the Pentagon’s Audit Failures: The ‘RECEIPTS Act’(47:52) - Only 2–3 Hours of Deep Work a Day: Meetings, App Overload, and Hybrid Teams(50:17) - Interview: Accounting Cornerstone Foundation Helps First-Timers Attend Conferences(52:09) - How the Foundation Works: Funding, Emotional Support, and Picking Awardees(56:36) - Impact Stories & What’s Next: Alumni Mentorship, Fundraising, and Growing the Mission(01:00:16) - Wrap-Up: How to Support + Earn CPE/CE Credits in the Earmark App

    Show Notes

    Supreme Court Rules 6-3 That IEEPA Does Not Authorize the President to Impose Tariffs

    https://www.supremecourt.gov/opinions/25pdf/24-1287_4gcj.pdf

    Supreme Court Strikes Down Most of Trump's Tariffs in a Major Blow to the President

    https://www.nbcnews.com/politics/supreme-court/supreme-court-strikes-trumps-tariffs-major-blow-president-rcna244827

    Supreme Court Strikes Down IEEPA Tariffs — What Now?

    https://www.wilmerhale.com/en/insights/client-alerts/20260220-supreme-court-strikes-down-ieepa-tariffs-what-now

    IRS Average Refunds Up $200 This Filing Season

    https://www.accountingtoday.com/news/taxpayers-hesitant-to-trust-ai-to-prepare-tax-returns

    Most Taxpayers Trust Tax Pros Over AI for Tax Preparation, Survey Finds

    https://www.cpapracticeadvisor.com/2026/02/19/most-taxpayers-trust-tax-pros-over-ai-for-tax-preparation-survey-finds/178412/

    Online Creators Worried About Finances and Income Taxes — A Growing Opportunity for Tax and Accounting Pros

    https://www.cpapracticeadvisor.com/2026/02/19/online-creators-worried-about-finances-and-income-taxes-a-growing-opportunity-for-tax-accounting-pros/178423/

    Intuit TurboTax Delivers the Ultimate "Done-For-You" Tax Experience Powered by AI and Human Intelligence With Uber Rides

    https://investors.intuit.com/news-events/press-releases/detail/1304/intuit-turbotax-delivers-the-ultimate-done-for-you-tax-experience-powered-by-ai-and-human-intelligence-with-uber-rides

    US Companies Pay More Taxes Abroad Than Here

    https://www.accountingtoday.com/news/us-companies-pay-more-taxes-abroad-than-here

    IRS Falls Far Short on Paperless Processing Goal

    https://www.accountingtoday.com/news/irs-falls-far-short-on-paperless-processing-goal

    Will the OBBBA Gambling Deduction Change Be Reversed?

    https://www.natptax.com/news-insights/blog/will-the-obbba-gambling-deduction-change-be-reversed/

    Kim Kardashian's Clothing Company Settles New Jersey Sales Tax Allegations

    https://www.cpapracticeadvisor.com/2026/01/20/kim-kardashians-clothing-company-settles-new-jersey-sales-tax-allegations/176590/

    Big Tech Accounting Creates a Blind Spot in the AI Boom

    https://news.futunn.com/en/post/68828373/big-tech-accounting-creates-a-blind-spot-in-the-ai

    KPMG Partner in Australia Fined Over Using AI to Pass AI Test

    https://www.irishtimes.com/business/2026/02/16/kpmg-partner-in-australia-fined-over-using-ai-to-pass-ai-test/

    Lawmakers Seek to Penalize DoD if It Fails to Pass a Clean Audit

    https://federalnewsnetwork.com/congress/2026/02/lawmakers-seek-to-penalize-dod-if-it-fails-to-pass-a-clean-audit/

    New Hubstaff Research Finds Workers Average Only 2–3 Hours of Focus Time Per Day