Bad App Causes $900 Million Bill Pay Blunder

David trades his lottery winnings for Bitcoin - will he be the next zillionaire? We're talking tax, including why lawmakers are starting to complain about a slow start to tax season, and how proposed legislation will dramatically increase IRS audits on the wealthy and corporations. We're also examining how to take control of your calendar in busy season, and what CPAs would do if they had more time. In app news, we ponder how Citigroup accidentally paid off a $900 million loan due to a horrible app, and talk about tax zapper software that's costing states hundreds of millions in lost sales tax revenue. We'll check out PayPal's plan for world super-app domination, acquisitions by Amazon, and Cin7, and so much more!

Sponsors

Show Notes

1:50 – David got bitten by the Bitcoin bug! 


6:25 - Tax season off to a slow start, lawmakers complain to IRS
 
8:19 – Is an end to the pandemic in sight? 
 
12:27 - Take control of your calendar this busy season
 
14:58 - Democrat bills would help the IRS go after wealthy, corporations
 
22:00 - Screenshot of the Horrific UI Design That Led Citigroup to Accidentally Send $893 Million 
 
What can we learn from Citi's $900 million mistake? - DEV Communityhttps://dev.to/feileacan/what-can-we-learn-from-citi-s-900-million-mistake-3p0j
 
29:20 - Sales-Hiding Software Outsmarts U.S. Tax Collectors (Podcast)
 
35:20 - Don’t Get Zapped: Enforcement against Businesses That Use Sales Suppression Software Is on the Upswing
 
 
39:28 - 32% of Small Businesses Have a Month or Less in Cash Reserveshttps://smallbiztrends.com/2021/02/alignable-small-business-cash-reserves-report-covid-recovery.html
 
43:01 - SURVEY: If Only We Had Time For…
  
46:38 - Robinhood Fails to Meet Deadline to Give Customers Tax Forms
 
48:40 - Brex applies for bank charter, taps former Silicon Valley Bank exec as CEO of Brex Bank https://techcrunch.com/2021/02/19/brex-applies-for-bank-charter-taps-former-silicon-valley-bank-exec-as-ceo-of-brex-bank/
 
49:12 - Iwoca Integrates With Xero For Pay Later Option
 
50:35 - PayPal Wants To Become The Banking World's Next 'Super App'https://thefinancialbrand.com/107787/paypal-venmo-banking-super-mobile-app-payments/
 
54:14 -  PayPal - Pay touch-free with a QR code
 
54:16 - Revolut Business Introduces QR Codes For Payments
 
55:41 – We’ve got VOICEMAIL! Thank you, Giuseppe for sharing your struggles with QuickBooks Cash! 
 
 
 
60:12 - Exciting News! DEAR Systems and Orderhive have joined Cin7 


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

Subscribe

Classifieds

UnCat - https://www.uncat.com
Launch for Accountants -  https://www.launchfa.com/
ClientHub - https://clienthub.app/


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

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.

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