What if one tax break could give your child a head start or hand them a pile of money at 18? Blake and David unpack the new Trump accounts, who should use them, and why advisors are split. They also dig into Australia’s latest Big Four scandal, worsening IRS service, AI’s growing role in tax and training, and what these shifts mean for accountants, firms, and clients.SponsorsOnPay - http://accountingpodcast.promo/onpayCanopy - http://accountingpodcast.promo/canopyThe Value Builder System - htt...
What if one tax break could give your child a head start or hand them a pile of money at 18? Blake and David unpack the new Trump accounts, who should use them, and why advisors are split. They also dig into Australia’s latest Big Four scandal, worsening IRS service, AI’s growing role in tax and training, and what these shifts mean for accountants, firms, and clients.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Canopy - http://accountingpodcast.promo/canopy
The Value Builder System - http://accountingpodcast.promo/value
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Chapters- (00:00) - TAP 495
- (01:40) - Sponsor Break OnPay
- (03:11) - Trump Accounts Basics
- (04:39) - Risks Versus 529 Plans
- (08:46) - Roth Conversion Strategy
- (11:27) - Big Four Scandals Australia
- (15:02) - Sponsor Break Canopy
- (16:26) - Coca-Cola Transfer Pricing Fight
- (21:38) - IRS Data Sharing Mess
- (23:41) - Tax Season Report Card
- (26:25) - IRS Help Centers Secret Shop
- (28:31) - Sponsor Break Value Builder
- (29:47) - IRS Chatbots Gone Wrong
- (30:36) - IRS Chatbot Failures
- (31:37) - Nonprofit Enforcement Push
- (33:29) - Is Nonprofit Fraud Real
- (36:27) - Sponsor Cloud Staffing
- (37:46) - California Billionaire Tax
- (42:01) - Florida Property Tax Shakeup
- (45:56) - AI Changes Teamwork
- (49:12) - AI Automates CPE Reporting
- (52:17) - KPMG Tax Training Simulator
- (56:15) - Accounting Firms Robbed
- (57:10) - Wrap Up and CPE Plug
Show Notes
Why advisors do and don't recommend Trump accounts
https://www.accountingtoday.com/news/why-advisors-do-and-dont-recommend-trump-accounts
The Trump Accounts rollout is the biggest advisory opportunity most accountants are missing
https://www.accountingtoday.com/opinion/the-trump-accounts-rollout-is-the-biggest-advisory-opportunity-most-accountants-are-missing
Australia weighs break-up of Big Four accounting firms after scandals
https://www.investing.com/news/stock-market-news/australia-weighs-breakup-of-big-four-accounting-firms-after-scandals-4769425
EY staffer fired after allegedly accessing Prime Minister's bank account
https://www.cyberdaily.au/security/13847-ey-staffer-fired-after-allegedly-accessing-prime-minister-s-bank-account
Coca-Cola Meets Sympathetic Judges in $20 Billion IRS Case
https://news.bloombergtax.com/daily-tax-report/coca-cola-meets-sympathetic-judges-in-transfer-pricing-dispute
TIGTA: IRS Has Data-Sharing Pacts with Over 1,120 Organizations, Some of Which It Can't Identify
https://www.cpapracticeadvisor.com/2026/07/06/tigta-irs-has-data-sharing-pacts-with-over-1120-organizations-some-of-which-it-cant-identify/186216/
National Taxpayer Advocate issues 2026 mid-year report to Congress
https://www.irs.gov/newsroom/national-taxpayer-advocate-issues-2026-mid-year-report-to-congress
IRS Taxpayer Assistance Centers provided wrong answers to tax questions
https://www.accountingtoday.com/news/irs-taxpayer-assistance-centers-provided-wrong-answers-to-tax-questions
IRS chatbot results may be wrong
https://www.accountingtoday.com/news/irs-chatbot-results-may-be-wrong
IRS gives tax-exempt groups closer scrutiny
https://www.accountingtoday.com/news/irs-gives-tax-exempt-groups-closer-scrutiny
2026 California billionaire tax initiative
https://en.wikipedia.org/wiki/2026_California_billionaire_tax_initiative
Semantic schism: Ron DeSantis rebukes Wall Street Journal jab at 'progressive' property tax measure
https://floridapolitics.com/archives/801396-desantis-wsj-progressive/
KPMG Turns to AI Simulations to Replace Years of Repetitive Tax Training as Automation Reshapes White-Collar Work
https://www.tekedia.com/kpmg-turns-to-ai-simulations-to-replace-years-of-repetitive-tax-training-as-automation-reshapes-white-collar-work/
Three suspects sought after accounting firm robbery in Markham
https://www.cp24.com/news/2026/06/30/three-suspects-sought-after-accounting-firm-robbery-in-markham/
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Get in Touch
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