Blake and David examine several major developments affecting the accounting profession, including the proposed HIRE Act that would impose a 25% excise tax on offshore labor payments to accounting firms. They also look at how AI is transforming hiring practices at major firms like PwC, which is cutting graduate recruitment due to advancing technology and explore practical AI implementation strategies for accounting firms, moving beyond basic chatbots to integrated workflows. The show wraps up with a story about fraud at The Epoch Times - a $67 million money laundering scheme - and the ongoing costs of bad social media tax advice.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Relay - http://accountingpodcast.promo/relay
TeamUp - http://accountingpodcast.promo/teamup
Chapters
- (00:00) - Introduction and Personal Updates
- (00:48) - AI in Accounting: Challenges and Opportunities
- (04:57) - The Higher Act: Taxing Offshore Labor
- (05:23) - Feel-Good Story: The Oldest Marching Band Member
- (10:23) - Impact of AI on Job Market
- (26:33) - Gambling Scandal and AI in Government
- (36:22) - Expense Management Simplified
- (38:29) - Supreme Court and Tariffs Update
- (42:37) - Red Lobster's Downfall: A Case Study
- (45:37) - The Role of AI in Accounting Firms
- (01:03:04) - Epic Times CFO Charged with Money Laundering
- (01:08:38) - Conclusion and Announcements
Show Notes
New Moreno Bill Would Crack Down on Outsourcing, Fund American Workers - Senator Bernie Moreno
HIRE Act - A BILL
https://www.moreno.senate.gov/wp-content/uploads/2025/09/The-HIRE-Act.pdf
Moreno Bill to Crackdown on Foreign Outsourcing Blocked by Senate Democrats - Senator Bernie Moreno
Offshoring is Screwed If This HIRE Act Thing Goes Anywhere But Let's Not Get Too Excited Yet - Going Concern
PwC's U.K. chief admits he's cutting back entry-level jobs and taking a 'watch and wait' approach to see how AI changes work | Fortune
AI takes entry-level jobs as Big Four slash graduate hiring
https://bmmagazine.co.uk/news/big-four-cut-graduate-jobs-ai/
PwC Cuts Graduate Hiring as AI Reshapes Entry-Level Careers - TechStory
https://techstory.in/pwc-cuts-graduate-hiring-as-ai-reshapes-entry-level-careers/
IRS assesses $162 million in penalties over false tax credit claims tied to social media | Internal Revenue Service
Social media claims cost taxpayers $162M, IRS says. See the 'tips' to avoid
IRS warns taxpayers: Social media advice can lead to costly penalties
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.