EPISODE · Apr 21, 2021 · 1H
IRS Can't Afford to Collect Taxes, Says IRS Chief Rettig
from The Accounting Podcast · host Blake Oliver & David Leary
SponsorsRewind: https://cloudaccountingpodcast.promo/rewindOdoo: https://cloudaccountingpodcast.promo/odoo Client Hub: https://cloudaccountingpodcast.promo/clienthubShow Notes1:45 – The Interview with AICPA’s Ed Karl https://www.cloudaccountingpodcast.com/bonus222 Reviews – Thank you all! 4:41 – Nels Larsen CPA via Podchaser5:02 – The Finance Wizard via Apple Podcasts 5:26 – Scott Scarano via Apple Podcasts5:50 – Lolololoic via Apple Podcasts 6:12 – ItsmeBeek via Apple Podcasts 7:15 – Anonymous Listener email about Episode 222 11:56 – Legislative threat to CPA licensure stalls in West Virginia https://www.journalofaccountancy.com/news/2021/apr/legislative-threat-to-cpa-licensure-stalls-in-west-virginia.html 20:18 – IRS Chief Says $1 Trillion in Taxes May Go Uncollected Each Yearhttps://www.wsj.com/articles/irs-chief-says-1-trillion-in-taxes-may-go-uncollectedeach-year-11618337765 21:41 – U.S. sues Trump ally Roger Stone, alleging he owes about $2 million in unpaid taxeshttps://www.reuters.com/world/us/us-sues-trump-ally-roger-stone-alleged-nonpayment-federal-income-taxes-2021-04-16/ 23:00 – Listener voicemail! Thank you, Ian Crook! 26:40 – ACH Network Hits 2.7 Billion Monthly Paymentshttps://www.pymnts.com/news/payment-methods/2021/ach-network-has-record-setting-quarter/ 28:05 – IRS to roll out expanded Child Tax Credit on July 1https://www.accountingtoday.com/news/irs-on-track-to-roll-out-expanded-child-tax-credit-on-july-1 29:50 – Biden Seeks 10% IRS Funding Hike to Spur More Audits of Wealthyhttps://news.bloombergtax.com/daily-tax-report/biden-seeks-10-irs-funding-hike-to-spur-more-audits-of-wealthy 31:37 – More Listener Mail! Thank you, Amir Banihashemi! 32:08 – Get your value-pricing refresher here! https://www.cloudaccountingpodcast.com/221 37:47 – This accounting firm will let staff choose start times — and clock off early in the summerhttps://www.marketwatch.com/story/pwc-lets-u-k-based-staff-choose-start-times-and-clock-off-early-in-the-summer-11617275290 38:14 – Grant Thornton says almost 90% of staff want to work from homehttps://www.fnlondon.com/articles/grant-thornton-says-almost-90-of-staff-want-to-work-from-home-20210407 38:53 – CPAs are humans, too: Workplace relationships matter https://blog.aicpa.org/2021/03/cpas-are-humans-too-workplace-relationships-matter-1.html 40:34 – Fully Remote Work Will Make You Less Happy https://www.theatlantic.com/family/archive/2021/04/zoom-remote-work-loneliness-happiness/618473/ 44:39 – The Latest Workplace Perk: Cash Bonuses for Taking Vacationshttps://www.wsj.com/articles/the-latest-workplace-perk-cash-bonuses-for-taking-vacations-11617960601 46:58 – NetSuite Helps Organizations Capitalize on New Growth Opportunitieshttps://www.prnewswire.com/news-releases/netsuite-helps-organizations-capitalize-on-new-growth-opportunities-301267202.html 48:44 – NetSuite Expands Commitment to Accounting Communityhttps://www.netsuite.com/portal/company/newsroom/netsuite-expands-commitment-to-accounting-community.shtml 49:55 – Google migrates from Oracle financial software to SAP https://www.zdnet.com/article/google-migrates-from-oracle-financial-software-to-sap/ 51:08 – Grant Thornton releases controls testing apphttps://www.accountingtoday.com/news/grant-thornton-releases-controls-testing-app 51:38 – Announcing TruckersBooksOnline: A Mobile Bookkeeping Management Services App for Owner/Operator Truckers https://www.einnews.com/pr_news/538425423/announcing-truckersbooksonline-a-mobile-bookkeeping-management-services-app-for-owner-operator-truckers 52:45 – New Investors Discover Tax Pitfalls of Robinhood and Other Trading Appshttps://www.wsj.com/articles/new-investors-discover-tax-pitfalls-of-robinhood-and-other-trading-apps-11618565406 56:02 – David wants to hear your thoughts! Get in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus,...
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What this episode covers
We just couldn't resist more talk about the IRS ... This week, we're examining how they may be losing up to $1 trillion per year due to tax cheats and a lack of tax collectors to go after them, and how the Biden budget might help, especially since a monthly Child Tax Credit is set to roll out this summer. In the shadow of Blake's discussion with AICPA's Ed Karl in Episode 22, we got lots of feedback from listeners expressing their frustration with the lack of answers! Meanwhile, the AICPA is protecting the CPA license from deregulation in West Virginia. In other news, ACH payments have a record quarter, PwC UK to allow 50% remote work, and there's more AICPA weigh-in on the subject of remote work. All that plus a ton of app news, including what's going on with Oracle NetSuite, a new niche app for truckers, and more!
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IRS Can't Afford to Collect Taxes, Says IRS Chief Rettig
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