Show Notes
What if one tax break could give your child a head start or hand them a pile of money at 18? Blake and David unpack the new Trump accounts, who should use them, and why advisors are split. They also dig into Australia’s latest Big Four scandal, worsening IRS service, AI’s growing role in tax and training, and what these shifts mean for accountants, firms, and clients.
Sponsors OnPay - http://accountingpodcast.promo/onpay Canopy - http://accountingpodcast.promo/canopy The Value Builder System - http://accountingpodcast.promo/value Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Chapters (00:00) - TAP 495
(01:40) - Sponsor Break OnPay
(03:11) - Trump Accounts Basics
(04:39) - Risks Versus 529 Plans
(08:46) - Roth Conversion Strategy
(11:27) - Big Four Scandals Australia
(15:02) - Sponsor Break Canopy
(16:26) - Coca-Cola Transfer Pricing Fight
(21:38) - IRS Data Sharing Mess
(23:41) - Tax Season Report Card
(26:25) - IRS Help Centers Secret Shop
(28:31) - Sponsor Break Value Builder
(29:47) - IRS Chatbots Gone Wrong
(30:36) - IRS Chatbot Failures
(31:37) - Nonprofit Enforcement Push
(33:29) - Is Nonprofit Fraud Real
(36:27) - Sponsor Cloud Staffing
(37:46) - California Billionaire Tax
(42:01) - Florida Property Tax Shakeup
(45:56) - AI Changes Teamwork
(49:12) - AI Automates CPE Reporting
(52:17) - KPMG Tax Training Simulator
(56:15) - Accounting Firms Robbed
(57:10) - Wrap Up and CPE Plug
Show Notes Why advisors do and don't recommend Trump accounts https://www.accountingtoday.com/news/why-advisors-do-and-dont-recommend-trump-accounts The Trump Accounts rollout is the biggest advisory opportunity most accountants are missing https://www.accountingtoday.com/opinion/the-trump-accounts-rollout-is-the-biggest-advisory-opportunity-most-accountants-are-missing Australia weighs break-up of Big Four accounting firms after scandals https://www.investing.com/news/stock-market-news/australia-weighs-breakup-of-big-four-accounting-firms-after-scandals-4769425 EY staffer fired after allegedly accessing Prime Minister's bank account https://www.cyberdaily.au/security/13847-ey-staffer-fired-after-allegedly-accessing-prime-minister-s-bank-account Coca-Cola Meets Sympathetic Judges in $20 Billion IRS Case https://news.bloombergtax.com/daily-tax-report/coca-cola-meets-sympathetic-judges-in-transfer-pricing-dispute TIGTA: IRS Has Data-Sharing Pacts with Over 1,120 Organizations, Some of Which It Can't Identify https://www.cpapracticeadvisor.com/2026/07/06/tigta-irs-has-data-sharing-pacts-with-over-1120-organizations-some-of-which-it-cant-identify/186216/ National Taxpayer Advocate issues 2026 mid-year report to Congress https://www.irs.gov/newsroom/national-taxpayer-advocate-issues-2026-mid-year-report-to-congress IRS Taxpayer Assistance Centers provided wrong answers to tax questions https://www.accountingtoday.com/news/irs-taxpayer-assistance-centers-provided-wrong-answers-to-tax-questions IRS chatbot results may be wrong https://www.accountingtoday.com/news/irs-chatbot-results-may-be-wrong IRS gives tax-exempt groups closer scrutiny https://www.accountingtoday.com/news/irs-gives-tax-exempt-groups-closer-scrutiny 2026 California billionaire tax initiative https://en.wikipedia.org/wiki/2026_California_billionaire_tax_initiative Semantic schism: Ron DeSantis rebukes Wall Street Journal jab at 'progressive' property tax measure https://floridapolitics.com/archives/801396-desantis-wsj-progressive/ KPMG Turns to AI Simulations to Replace Years of Repetitive Tax Training as Automation Reshapes White-Collar Work https://www.tekedia.com/kpmg-turns-to-ai-simulations-to-replace-years-of-repetitive-tax-training-as-automation-reshapes-white-collar-work/ Three suspects sought after accounting firm robbery in Markham https://www.cp24.com/news/2026/06/30/three-suspects-sought-after-accounting-firm-robbery-in-markham/
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