The Accounting Podcast

IRS Agents Working From Home Can Watch H&R Block Reality TV Show

Mar 12, 2024

01:06:15

We're celebrating surpassing 10,000 YouTube subscribers! Thank you! Blake and David look into H&R Block's new reality show about teaching people life skills like doing their taxes. They also talk about workflow automation challenges for accounting firms, how the IRS is contacting wealthy non-filers, and the Trump Organization CFO pleading guilty to perjury. They also break down the SEC's extensive new climate disclosure rules and the job opportunities this could create for accountants.

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Chapters

(03:04) - H&R Block is creating a reality TV show
(08:51) - WSJ Op-Ed says IRS agents shouldn't work from home
(12:21) - The Accountant 2 gets a big tax credit
(14:42) - South Carolina finds $2 billion in bank account
(20:49) - Bloomberg article on the lack of accountants
(23:18) - Regional banks in trouble?
(27:00) - Lyft being sued by their shareholders
(29:39) - Is bad workflow automation the cause of bad work/life balances?
(37:42) - CPA Trendlines: "Which Niche is the Best Niche?"
(46:28) - TurboTax and H&R Block are using AI giving awful tax advice
(50:12) - Blake shares new SEC rule's GPT he made
(53:19) - AI and data privacy concerns
(55:48) - Can AI predict when you'll die?
(01:01:37) - Former Trump CFO Allen Weisselberg pleads guilty to perjury
(01:03:56) - Thanks for listening and remember to subscribe

Show Notes

2024 Report: The State of Accounting Workflow Automation

https://financial-cents.com/resources/articles/2024-report-state-of-accounting-workflow-automation/

Gartner Survey Shows That a Third of Accountants Make Several Financial Errors Per Week due to Capacity Constraints

https://www.gartner.com/en/newsroom/press-releases/2024-02-21-gartner-survey-shows-that-a-third-of-accountants-make-several-error-per-weeo-due-to-capacity-constraints

The U.S. is short 340,000 accountants-just look at the wave of earnings report mistakes

https://fortune.com/2024/03/01/accounting-shortage-earnings-report-mistakes/

Intuit, H&R Block tax AIs critiqued on accuracy

https://www.accountingtoday.com/news/intuit-h-r-block-tax-ais-critiqued-on-accuracy-of-answers-many-inaccurate

SC accounting error gets renewed focus over $1.8B sitting in state bank account

https://www.southcarolinapublicradio.org/sc-news/2024-03-05/legis-treasurermoney

Ex-Trump Org CFO Pleads Guilty to Perjury in Fraud Case

https://www.cpapracticeadvisor.com/2024/03/05/ex-trump-org-cfo-pleads-guilty-to-perjury-in-fraud-case/102306/

H&R Block to Release Short Format Comedy Streaming Series, “Responsibility Island”

https://www.cpapracticeadvisor.com/2024/02/29/hr-block-to-release-short-format-comedy-streaming-series-responsibility-island/102172/

Federal court holds Corporate Transparency Act unconstitutional

https://www.journalofaccountancy.com/news/2024/mar/federal-court-holds-corporate-transparency-act-unconstitutional.html

Lyft earnings report error prompts shareholder lawsuit

https://finance.yahoo.com/news/lyft-earnings-report-error-prompts-150849490.html

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