The Accounting Podcast

Lots and lots of news today, including the latest on the SBA's SVOG fail, why stimulus checks can't arrive faster, when there is still $1.3 billion in stimulus waiting to be distributed to taxpayers, and more talk about the IRS's constant state of being underfunded, and backlogged. We'll examine the implications around China creating its own cryptocurrency, review the Facebook's Global State of Small Business Survey, and dive into reasons why CFOs are more optimistic. We've also got conference updates from David, assorted acquisitions and funding rounds, and much more!

Show Notes

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Show Notes

1:47 – Blake’s Discussion with Ed Karl, Vice President of Taxation at the AICPA
https://www.cloudaccountingpodcast.com/bonus222
 
6:37 – Shutter Venue Operators Grant Snafu
 
7:45 – SBA SVOG Tweet
https://twitter.com/SBAgov
 
8:35 – Why Can’t Stimulus Checks Arrive Faster?
https://www.wsj.com/articles/why-cant-stimulus-payments-arrive-faster-11617631209

10:40 – Billions waiting in 2017 federal refunds
https://www.accountingtoday.com/news/billions-waiting-in-2017-federal-tax-refunds
 
11:38 – China Creates Its Own Digital Currency, a First for Major Economy
https://www.wsj.com/articles/china-creates-its-own-digital-currency-a-first-for-major-economy-11617634118
 
17:27 – Facebook: 25 Pct Of SMBs Closed Around Worldhttps://www.pymnts.com/economy/2021/facebook-25-pct-of-smbs-closed-around-the-world/
 
18:29 – Pickup in CFO Optimism Continues in Q1
https://www.cfo.com/the-economy/2021/04/pickup-in-cfo-optimism-continues-in-q1/
 
25:06 – Global minimum tax gains momentum
https://www.accountingtoday.com/articles/global-minimum-tax-momentum-gains-with-g-20-seeing-mid-year-deal
 
25:37 – IRS Program Summary by Budget Activity
https://home.treasury.gov/system/files/266/19.-IRS-FY-2021-BIB.pdf
 
27:47 – How to Collect $1.4 Trillion in Unpaid Taxes
https://www.nytimes.com/2021/03/20/opinion/sunday/unpaid-tax-evasion-IRS.html
 
30:15 – Blake’s Discussion with Ed Karl, Vice President of Taxation, AICPA
https://www.cloudaccountingpodcast.com/bonus222
 
38:44 – Wealthiest Taxpayers Cheat IRS Out of $400 Billion a Year
https://cpatrendlines.com/2021/04/09/wealthiest-taxpayers-cheat-irs-out-of-400-billion-a-year/
 
More IRS Reading: 
 
173% Increase in IRS Correspondence Backlog
https://cpatrendlines.com/2021/04/08/irs-lags-on-compliance-correspondence/
 
The IRS’s $3-Billion Problem
https://cpatrendlines.com/2021/03/22/92-of-paper-returns-stuck-in-backlog/
 
IRS Commissioner Chuck Rettig Response 
https://www.c-span.org/video/?509965-1/irs-commissioner-rettig-testifies-tax-filing-season
 
41:00 – An update about Xerocon 2021 | Xero Blog
https://www.xero.com/blog/2021/04/xerocon-2021-update/
 
41:20 – Sage Transform
https://www.sageintacct.com/transform
 
43:10 – Check out AccountingConferences.com for all the latest on ’21 conferences!
https://accountingconferences.com/
 
44:00 – Dallas firm buys provider of property tax data software
https://www.accountingtoday.com/news/dallas-firm-buys-atlanta-provider-of-property-tax-data-software
 
44:40 – Ramp Reaches Record-Setting $1.6B Valuation
https://www.pymnts.com/startups/2021/ramp-reaches-record-setting-valuation/
 
46:48 – Blue Dot's AI Helps You Manage, Comply With Tax Accounting and Codes: Company Raises $31 Million— How It Works
https://www.techtimes.com/articles/258835/20210407/blue-dots-ai-helps-you-manage-comply-with-tax-accounting-and-codes-company-raises-31-million—-how-it-works.htm
 
47:12 – Blue Dot raises $32M for AI that helps companies comply with tax codeshttps://venturebeat.com/2021/04/07/blue-dot-raises-32m-for-ai-that-helps-companies-comply-with-tax-codes/
 
48:50 – How Per Diem Payments Can Simplify Your Accounting and Taxeshttps://finance.yahoo.com/news/per-diem-payments-simplify-accounting-134500596.html



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Creators & Guests

Host
Blake Oliver
Founder and CEO of Earmark CPE
Host
David Leary
President and Founder, Sombrero Apps Company

What is The Accounting Podcast?

The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast! Join us weekly for a roundup of accounting news, analysis, and interviews. Plus, earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at https://earmarkcpe.com.