Finally! A Tax Bill That Adds Up

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. Sponsors

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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...