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.

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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