Cloud Accounting Podcast

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Summary

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!

Show Notes

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Show Notes

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


6:25 - Tax season off to a slow start, lawmakers complain to IRS
https://www.accountingtoday.com/news/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
https://www.accountingtoday.com/opinion/take-control-of-your-calendar-this-busy-season
 
14:58 - Democrat bills would help the IRS go after wealthy, corporations
https://www.accountingtoday.com/news/democrats-introduce-bills-to-increase-taxes-on-wealthy-and-corporations
 
22:00 - Screenshot of the Horrific UI Design That Led Citigroup to Accidentally Send $893 Million 
https://www.core77.com/posts/105540/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)
https://news.bloombergtax.com/financial-accounting/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
https://www.blankrome.com/publications/dont-get-zapped-enforcement-against-businesses-use-sales-suppression-software-upswing
 
37:33 - Most Restaurants Couldn’t Pay December’s Renthttps://www.pymnts.com/news/retail/2021/survey-says-most-nyc-restaurants-couldnt-pay-december-rent/
 
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…
https://cpatrendlines.com/2021/02/18/survey-if-only-we-had-time-for/
  
46:38 - Robinhood Fails to Meet Deadline to Give Customers Tax Forms
https://www.bloomberg.com/news/articles/2021-02-17/robinhood-misses-irs-deadline-to-give-customers-their-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
https://www.pymnts.com/news/b2b-payments/2021/iwoca-integrates-with-xero-for-smb-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
https://www.paypal.com/us/webapps/mpp/qrcode
 
54:16 - Revolut Business Introduces QR Codes For Payments
https://www.pymnts.com/news/payment-methods/2021/revolut-business-introduces-qr-codes-for-payments/
 
55:41 – We’ve got VOICEMAIL! Thank you, Giuseppe for sharing your struggles with QuickBooks Cash! 
 
59:37 - Shopify Smashes Estimates With Q4 Resultshttps://www.pymnts.com/news/retail/2021/shopify-q4-results-smash-estimates-growth-could-slow-post-covid/
 
59:54 - Why Amazon Snapped Up Selzhttps://www.pymnts.com/amazon-acquisitions/2021/why-amazon-snapped-up-selz/
 
60:12 - Exciting News! DEAR Systems and Orderhive have joined Cin7 
https://www.cin7.com/blog/cin7/exciting-news-dear-systems-and-orderhive-have-joined-cin7/
https://www.orderhive.com/orderhive-has-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

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What is Cloud Accounting Podcast?

The Cloud Accounting Podcast is the #1 accounting and bookkeeping podcast in the world! Join Blake Oliver and David Leary at the intersection of accounting and technology for a weekly news roundup, plus interviews with industry leaders.