Rubber Stamped Forgiveness for PPP Loans

We've got news! A lot of news! In this episode, we cover the latest on PPP forgiveness, the IRS's continuing lack of resources, and how they make it easier to audit the poor, while those with lots of cash, like the NRA's Wayne LaPierre, and John McAfee, software pioneer, are suspected of, and indicted for tax fraud. In the midst of, and beyond COVID, there's more news around remote work, and productivity, including how Microsoft is now allowing employees work from home 50% of the time, and Google is challenging Microsoft Office with a new version of G Suite, called Google Workspace. We cover app news, with updates on offerings from Gusto, Expensify, Avalara, Client Hub, and more, and talk about the recent Robinhood "potential" hackery, serious mystery software errors that plagued the state of Georgia, and more flaws in Excel affecting accurate reporting of COVID cases in the UK. All this and so much more!

Sponsors

Show Notes

07:15 – Microsoft will let employees work from home half the time
 https://www.cnbc.com/2020/10/09/microsoft-implements-new-hybrid-remote-work-policy.html

10:47 – SBA and Treasury simplify forgiveness of PPP loans under $50K+
https://www.accountingtoday.com/news/sba-and-treasury-simplify-forgiveness-of-ppp-loans-under-50k 

11:47 – PPP forgiveness simplified for loans of $50,000 or less
https://www.journalofaccountancy.com/news/2020/oct/ppp-forgiveness-simplified-for-loans-50000-less.html

14:21 – IRS Investigating NRA’s Wayne LaPierre for Possible Tax Fraud
https://www.wsj.com/articles/irs-investigating-nras-wayne-lapierre-for-possible-tax-fraud-11601923467

15:46 – Software Pioneer John McAfee Indicted On Tax Charges
https://www.forbes.com/sites/kellyphillipserb/2020/10/05/software-millionaire-john-mcafee-indicted-on-tax-charges/#65df8ef72672

19:00 – IRS: Sorry, but It’s Just Easier and Cheaper to Audit the Poor
https://www.propublica.org/article/irs-sorry-but-its-just-easier-and-cheaper-to-audit-the-poor

21:20 – IRS Whittles Mail Backlog, Aims to Make Final Stimulus Payments
https://www.wsj.com/articles/irs-whittles-mail-backlog-aims-to-make-final-stimulus-payments-11602097587

23:20 – Robinhood Reports Potential Hacking Incident
https://www.pymnts.com/news/security-and-risk/2020/robinhood-reports-potential-hacking-incident/

29:12 – BoA Goes Micro With Consumer Loan Up To $500
https://www.pymnts.com/loans/2020/bank-of-america-goes-micro-with-consumer-loan-up-to-500-dollars/

30:04 – Introducing New Modern Benefits that Expand Access to Affordable Health Coverage and Put an End to Predatory Banking Practices
https://gusto.com/company-news/introducing-gusto-benefits-for-all

32:20 – Expensify introduces free vendor bill-pay
https://www.accountingtoday.com/news/expensify-introduces-free-vendor-bill-pay

36:58 – Tipalti valued at $2B+ after raising $150M for its accounting automation platform
https://siliconangle.com/2020/10/06/tipalti-valued-2b-raising-150m-accounting-automation-platform/

38:20 – Avalara acquires Transaction Tax Resources for $377M
https://www.accountingtoday.com/news/avalara-acquires-transaction-tax-resources-for-377m

42:26 – Accounting error costs Georgia, tax collections stay strong https://www.thetelegraph.com/news/article/Accounting-error-costs-Georgia-tax-collections-15626264.php 

44:02 – Spill some tea! If you know which software was involved in the Georgia tax fiasco, do tell. Hit us up on Twitter, or LinkedIn. Inquiring accountants want to know!  

46:02 – Botched Excel import may have caused loss of 15,841 UK COVID-19 cases
 https://arstechnica.com/tech-policy/2020/10/excel-glitch-may-have-caused-uk-to-underreport-covid-19-cases-by-15841/

48:41 – Introducing Client Hub Frictionless Workflow
https://blog.clienthub.app/frictionlessworkflow/

49:27 – This is Google's new plan to take on Microsoft Office - Latest News
https://timesofindia.indiatimes.com/gadgets-news/this-is-googles-new-plan-to-take-on-microsoft-office/articleshow/78533493.cms

52:08 – Japanese Startup Surges 300% on Demand for Cloud-Based Accounting
https://finance.yahoo.com/news/japan-startup-surges-300-demand-200000131.html

54:10 – Square stock gains after company purchases $50 million in bitcoin
https://www.marketwatch.com/story/square-stock-gains-after-company-purchases-50-million-in-bitcoin-11602164665

56:45 – EY Changes Its Vacation Policy, Oh and BTW They’re Not Paying Out Accrued PTO If You “Leave”
https://www.goingconcern.com/ey-flexible-vacation-policy-pto/


Get in Touch

Thanks 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, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040


Need Accounting Conference Info? 
Check out our new website - accountingconferences.com


Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch


Subscribe

Classifieds

BaCo Tech: https://www.bacotech.com/
ClientHub: https://clienthub.app


Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the show notes for the link to get more info and be sure to check out our special stimulus pricing of four episodes for just $100.

Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd 


Full Transcript Available Upon Request - info@cloudaccountingpodcast.com

Join our newsletter!

Get notified about new episodes and other updates from Blake and David

Got it. You're on the list!
Podchaser - Cloud Accounting Podcast

Copyright © 2020 Blake Oliver