IRS Can't Afford to Collect Taxes, Says IRS Chief Rettig

We just couldn't resist more talk about the IRS ... This week, we're examining how they may be losing up to $1 trillion per year due to tax cheats and a lack of tax collectors to go after them, and how the Biden budget might help, especially since a monthly Child Tax Credit is set to roll out this summer. In the shadow of Blake's discussion with AICPA's Ed Karl in Episode 22, we got lots of feedback from listeners expressing their frustration with the lack of answers! Meanwhile, the AICPA is protecting the CPA license from deregulation in West Virginia. In other news, ACH payments have a record quarter, PwC UK to allow 50% remote work, and there's more AICPA weigh-in on the subject of remote work. All that plus a ton of app news, including what's going on with Oracle NetSuite, a new niche app for truckers, and more!

Show Notes

1:45 – The Interview with AICPA’s Ed Karl 
 
Reviews – Thank you all! 
 
4:41 – Nels Larsen CPA via Podchaser
5:02 – The Finance Wizard via Apple Podcasts 
5:26 – Scott Scarano via Apple Podcasts
5:50 – Lolololoic via Apple Podcasts 
6:12 – ItsmeBeek via Apple Podcasts
 
7:15 – Anonymous Listener email about Episode 222 
 
 
20:18 – IRS Chief Says $1 Trillion in Taxes May Go Uncollected Each Year
 
21:41 – U.S. sues Trump ally Roger Stone, alleging he owes about $2 million in unpaid taxes
 
23:00 – Listener voicemail! Thank you, Ian Crook!
 
26:40 – ACH Network Hits 2.7 Billion Monthly Payments
 
28:05 – IRS to roll out expanded Child Tax Credit on July 1
 
29:50 – Biden Seeks 10% IRS Funding Hike to Spur More Audits of Wealthy
 
31:37 – More Listener Mail! Thank you, Amir Banihashemi! 
 
32:08 – Get your value-pricing refresher here! 
 
37:47 – This accounting firm will let staff choose start times — and clock off early in the summer
 
38:14 – Grant Thornton says almost 90% of staff want to work from home
 
38:53 – CPAs are humans, too: Workplace relationships matter 
 
 
44:39 – The Latest Workplace Perk: Cash Bonuses for Taking Vacations
 
46:58 – NetSuite Helps Organizations Capitalize on New Growth Opportunities
 
 
49:55 – Google migrates from Oracle financial software to SAP 
 
51:08 – Grant Thornton releases controls testing app
 
51:38 – Announcing TruckersBooksOnline: A Mobile Bookkeeping Management Services App for Owner/Operator Truckers 
 
52:45 – New Investors Discover Tax Pitfalls of Robinhood and Other Trading Appshttps://www.wsj.com/articles/new-investors-discover-tax-pitfalls-of-robinhood-and-other-trading-apps-11618565406
 
56:02 – David wants to hear your thoughts! 


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