Episode Details

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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• (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”

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