Aussies Want to Break up Big Four & Trump Accounts Go Live on the 4th
Summary
Hosts Blake Oliver and David Leary discuss the launch of "Trump accounts," analyzing their tax implications and control issues compared to 529 plans. They cover major Big Four scandals in Australia, including EY staff accessing the Prime Minister’s bank account, and the high-stakes Coca-Cola transfer pricing dispute. The episode also details IRS service failures, increased nonprofit scrutiny, and state tax ballot measures in California and Florida.
Topics discussed
Intro: IRS call stats and EY scandal teaser
Sponsor: OnPay payroll services
Trump Accounts: Pros and cons of 'Trump Accounts' vs 529s
Australia moves to break up Big Four after EY spying scandal
Sponsor: Canopy practice management software
Coca-Cola transfer pricing dispute and $20B tax exposure
IRS failures: Data leaks, long wait times, and wrong answers
Sponsor: Value Build for advisory growth
IRS live chat issues and overwhelmed agents
IRS crackdown on nonprofit fraud and compliance
Sponsor: Cloud Accountant Staffing
California billionaire tax and Florida property tax changes
AI in accounting: Co-working, CPE tracking, and training simulations
Toronto accounting firm robbery and closing remarks
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