May The 17th Be With You This Tax Season

Kerfuffles abound this week with stimulus payments going out, and small businesses starting to fully reopen. The federal tax deadline has been extended to May, but tax pros aren't happy about it. The PPP deadline is likewise extended. In app news, BDO partners with Xero, ProAdvisors are up in arms about having to pay higher ACH fees, and a production payroll startup takes aim at payroll for the entertainment industry. In education, a study shows that CPA education is lagging behind tech, and even the CPA exam. Lastly, we investigate what's more difficult — the CPA exam, or the bar exam? All this and more in our latest episode.


Show Notes

2:53 - U.S. Treasury has sent out $242B in stimulus checks so far
5:50 - More Than Half Of Small Businesses Have Reopened: Survey
14:39 - IRS to automatically process refunds on jobless-benefit payments
15:10 - House passes PPP deadline extension in 415-3 vote - Journal of Accountancy
House votes to extend PPP deadline until May 31
17:35 - Tax season turns into 'dumpster fire' for advisors, clients after stimulus bill passes
18:10 - SBA defers repayment of disaster loans until 2022
20:27 - BDO and Xero join forces in global agreement | Xero Blog
BDO becomes first Xero Global Partner
22:42 - Changes Rolling Out to QuickBooks Payments - insightfulaccountant.com
24:43 - The Revolt Against the 30% Mafia. When did Big Tech gatekeepers from Apple to DoorDash decide they were entitled to a third of the internet’s sales?
32:25 - What's new in Sage Intacct's Release 1 2021
34:00 - Stripe: $95B After New $600M Funding Round
34:55 - Squarespace Raises $300 Million Investment Round at $10 Billion Valuation
35:23 - Jeffrey Katzenberg’s WndrCo, Michael Ovitz Invest in Production Payroll Startup Wrapbook as Part of $27M Round
Wrapbook Talks Entertainment Industry Payroll
38:10 - College accounting programs not covering emerging topics: AICPA/NASBA report
42:13 - Which is more difficult: The CPA Exam or the Bar?
48:54 - Risky trading targeted in Democrat proposal for financial transaction tax

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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

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