Blake and David Leary dive into several hot topics in the accounting world including the IRS's renewed focus on enforcement, targeting high-income individuals and non-filers, as well as the push to regulate non-credentialed tax preparers. They also explore the ongoing US CPA shortage and discuss potential solutions, including changes to education and recruitment strategies. Moving on, there's talk about emerging threats to traditional accounting software from industry-specific solutions like Clio's new accounting package for law firms. All this and more, right here, right now! SponsorsRelay - http://accountingpodcast.promo/relayZoho - http://accountingpodcast.promo/zohoMakers Hub - http://accountingpodcast.promo/makershubLendflow - http://accountingpodcast.promo/lendflowChapters(01:00) - Global IT Outage Chaos

(02:48) - Guess the Company Game

(05:04) - Accounting Salaries and Compensation

(14:47) - PwC Cutting Chinese Partners Pay by 50%

(16:24) - Relay: The Ultimate Banking Solution

(18:50) - Payday Advance Apps Under Scrutiny

(21:40) - Trump's Tax Plan and Tariffs

(29:03) - Community Engagement and Election 2024

(29:48) - Zoho Practice Management Overview

(31:34) - IRS Enforcement and Tax Resolution Opportunities

(39:40) - Regulating Non-Credentialed Tax Preparers

(43:09) - Corporate Tax Rates and Economic Impact

(48:49) - Thank you to MakersHub

(50:45) - Clio Accounting and Legal Software Innovations

(53:41) - Addressing the Accountant Shortage

(01:02:31) - Thanks for Listening and Remember to Earn Your Free CPE
 Show NotesJuly 19, 2024, global tech outage newshttps://www.cnn.com/business/live-news/global-outage-intl-hnk/index.html AICPA & CIMA Achieves Global Recognition as a Great Place To Workhttps://www.aicpa-cima.com/news/article/aicpa-and-cima-achieves-global-recognition-as-a-great-place-to-work Just How Much Have Accounting Salaries Increased in the Last Five Years?https://www.goingconcern.com/just-how-much-have-accounting-salaries-increased-in-the-last-five-years/ You Need to Make Six Figures to Buy a Home in Almost Half of the U.S.https://www.cpapracticeadvisor.com/2024/04/04/you-need-to-make-six-figures-to-buy-a-house-in-almost-half-of-america/103541/ Number of the Day: $5.7 Billion - CPA Practice Advisorhttps://www.cpapracticeadvisor.com/2024/06/24/number-of-the-day-5-7-billion/107099/ I.R.S. Crackdown on Delinquent Millionaires Yields $1 Billion - The New York Timeshttps://www.nytimes.com/2024/07/11/business/irs-crackdown-wealthy-taxpayers.html The IRS Tidal Wave Is Here - CPA Trendlineshttps://cpatrendlines.com/2024/07/07/the-irs-tidal-wave-is-here/ Tax pros: IRS improving, but getting the right answer takes too longhttps://www.journalofaccountancy.com/news/2024/jul/tax-pros-irs-improving-but-getting-right-answer-takes-too-long.html IRS advisory committee recommends regulating tax preparers | Accounting Today https://www.accountingtoday.com/news/irs-advisory-committee-recommends-regulating-tax-preparers Corporate Tax Rate Spurs Political Fight With More Than $1 Trillion at Stake - WSJhttps://www.wsj.com/politics/policy/corporate-tax-rate-election-53de5180?st=o43aay9xscjk9wt Ohio's shortage of certified accountants is part of a national trendhttps://www.10tv.com/article/news/local/ohio-shortage-of-cpas-part-of-national-trend/530-172bf0d5-0f6a-4037-817f-2a6ae4e12dbf Accountants sound the alarm over high-income residents leaving Massachusetts – New Bedford Guide https://www.newbedfordguide.com/accountants-sound-the-alarm-over-high-income-residents-leaving-massachusetts/2024/06/20 Trump floats tariff hikes to offset income tax cutshttps://www.accountingtoday.com/articles/trump-floats-tariff-hikes-to-offset-income-tax-cuts  The Accountant Shortage Highlights How Critical Accounting Is to Capital Markets | Smith School https://www.rhsmith.umd.edu/research/accountant-shortage-highlights-how-critical-accounting-capital-markets #stitch with @Shanna Morris | accounting major | TikTok https://www.tiktok.com