The Accounting Podcast

Could the Pope be on the hook for US taxes? As the first American elected Pope, Leo XIV faces an unusual conundrum under US citizenship rules. Meanwhile, Intuit's controversial new API pricing has developers reeling, and Hector Garcia joins the conversation to explain why this "tariff" threatens the entire QuickBooks ecosystem. Blake and David also examine how companies use foreign trade zones to dodge Trump's tariffs, unpack the AICPA's new CPA licensure model, and reveal shocking numbers on government fraud that could approach $1 trillion annually. Plus, discover why 99.99% of Trump Memecoin buyers lost money while just 58 wallets walked away with billions.

Chapters

• (01:54) - South Carolina State Treasurer Ousted
• (04:04) - Deal CEO Relocates Amid Lawsuit
• (05:28) - Live Stream Interactions
• (07:29) - Introducing Hector Garcia and Reframe
• (08:19) - Intuit Developer Program Changes
• (09:53) - Discussion on API Charges and Developer Impact
• (16:37) - Speculations and Theories on Intuit's Strategy
• (28:56) - Reframe Conference Details
• (31:30) - Trump's Tariffs and Foreign Trade Zones
• (33:52) - Introduction to Free Trade Zones
• (34:42) - Arizona's Dominance in Free Trade Zones
• (37:41) - Legal Challenges to Trump's Tariffs
• (40:29) - Intuit's Political Maneuvering
• (44:53) - New CPA Licensure Model
• (57:43) - Fraud and Government Inefficiencies
• (01:06:27) - Closing Remarks and New Podcasts

 

South Carolina Senate votes to remove state treasurer over $1.8 billion accounting error
https://www.thestate.com/news/politics-government/article287284067.html

Deal CEO Alex Bouaziz relocates to Dubai amid Rippling lawsuit
https://techcrunch.com/2024/04/15/deal-ceo-alex-bouaziz-has-relocated-to-dubai-amid-the-rippling-lawsuit/

Rippling raises $450 million at $16.8 billion valuation
https://techcrunch.com/2024/04/16/rippling-raises-450m-at-16-8b-valuation/

AICPA and NASBA release model legislation for new CPA licensure pathway
https://www.journalofaccountancy.com/news/2024/apr/aicpa-nasba-release-model-legislation-new-cpa-licensure-pathway.html

Florida Institute of CPAs successfully pauses bill to eliminate licensing boards
https://www.ficpa.org/article/ficpa-advocacy-update-on-house-bill-639

American Pope Leo XIV may need to file US tax returns
https://www.cnbc.com/2024/04/23/american-pope-leo-xiv-may-need-to-file-us-tax-returns.html

Foreign Trade Zones become tariff shelters amid Trump's trade policies
https://www.wsj.com/economy/tariffs/foreign-trade-zones-become-tariff-shelters-for-small-firms-a5e81093

Federal court questions constitutionality of Trump's Liberation Day tariffs
https://www.reuters.com/legal/us-trade-court-questions-legality-biden-tariffs-2024-04-17/

Elon Musk stepping aside at DOGE while work continues through 2026
https://www.axios.com/2024/04/22/elon-musk-stepping-aside-doge-june

IRS fails to meet improper payment rate goals for refundable tax credits https://www.treasury.gov/tigta/auditreports/2024reports/202440032fr.pdf

Criminal groups stealing up to $1 trillion from US government programs
https://www.nbcnews.com/business/economy/hackers-stealing-us-government-money-rcna150024

99.99% of Trump Memecoin buyers lost money while 58 wallets made over $10 million each
https://www.chainalysis.com/reports/trump-memecoin-analysis-2024/

Intuit's record lobbying spending and Republican support to eliminate IRS Direct File
https://www.opensecrets.org/news/2024/04/intuit-turbotax-parent-spends-record-on-lobbying-amid-direct-file-rollout/

Intuit Developer Program Changes
https://developer.intuit.com/app/developer/homepage

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The full transcript for this episode is available by clicking on the Transcript tab at the top of this page