Trump's Tax Plans, IRS PPS Fraud, & PCAOB Drama

Nov 16, 2024

The hosts tackle the economic implications of Trump's election, discussing proposed tariffs that could reshape business landscapes and inflation. They dive into potential tax reforms, including corporate rate cuts and SALT cap changes. An alarming $47 million IRS fraud scheme targeting tax practitioners is revealed, raising concerns about security. The conversation also touches on the meteoric rise of Bitcoin, speculating about its future viability as a national currency amid increased market interest.

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ANECDOTE

Avalara Crush Conference

Blake and David attended the Avalara Crush Conference in Austin.
Austin's energetic vibe impressed Blake, although he noted the replacement of older bars with skyscrapers.

INSIGHT

Avalara's Role in Sales Tax

Avalara, a major middleware company, calculates sales taxes and has a vast database of tax jurisdictions and product data.
This data-driven approach makes them a key player in sales tax compliance.

INSIGHT

AI and the Future of Tax Compliance

Blake showcased AI use cases at Avalara Crush, but only 20% of attendees had used tools like ChatGPT.
He questioned the future of middleware companies like Avalara as AI evolves.

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