IRS

Another AI startup aims to eliminate accountants

Another AI startup aims to eliminate accountants

Georges raises $11.2 million to automate accounting, Canopy releases tax prep software, IRS to stop faxing, Free File stripped from IRS bill, continuous testing is in the cards for the CPA exam, ATAX expands nationwide, sign-in with Apple ID is coming to QBO and Xero, and more

Over 6 million small businesses using cloud accounting: QuickBooks and Xero numbers compared

Over 6 million small businesses using cloud accounting: QuickBooks and Xero numbers compared

We dig into the latest Intuit and Xero earnings reports to figure out who is winning the battle to conquer the world of small business cloud accounting. Also, one controller used the IRS to steal $2.8M, TurboTax uses a “military discount” to trick troops into filing their taxes, Senator Warren is on the attack against Intuit, QuickBooks Live plans to scale rapidly to 500 ProAdvisors, Baltimore is held hostage by ransomware, and why blockchain is all talk in accounting (at this point, anyway).

Intuit grows more defensive, CCH gets an IRS extension, QuickBooks Live quintuples, and Xero has a new Americas President

Intuit grows more defensive, CCH gets an IRS extension, QuickBooks Live quintuples, and Xero has a new Americas President

This week, ProPublica got its hands on an internal video from Intuit CEO Sasan Goodarzi to his 9,000 employees defending the company's actions before and after the Free File fiasco. Meanwhile, Wolters Kluwer negotiated on behalf of its customers with the IRS for a 7-day extension to file tax returns due to the CCH outage. Also, Intuit is increasing its QuickBooks Live workforce in anticipation of a June launch date, and Xero hired a new President to lead their Americas operation. All this and more on this episode of the Cloud Accounting Podcast!

Wolters Kluwer cloud tax products go down for almost a week after malware attack

Wolters Kluwer cloud tax products go down for almost a week after malware attack

This past week, Wolters Kluwer's CCH tax software division suffered a malware attack. In response, the company took offline a number of CCH products for 3 to 4 days, causing significant disruption to accounting firms, especially midsize and large ones. In other news, a Firm of the Future finalist firm loses a client to QuickBooks Live, the Vermont House voted for a new "cloud tax" that would tax Software-as-a-Service (SaaS), the Los Angeles City Attorney dues Intuit and H&R Block, and more.

How Intuit and H&R Block may have tricked low-income Americans into paying to file their taxes

How Intuit and H&R Block may have tricked low-income Americans into paying to file their taxes

We go in-depth on ProPublica's IRS Free File investigation that has implicated H&R Block and Intuit in misleading schemes to push taxpayers who could have gotten their taxes done for free into paid offerings. Also, follow-up on QuickBooks with Live Bookkeeping (which goes live in June), Divvy's gigantic $200 million fundraising round, OnDeck's concerns about small business credit worthiness, NetSuite's new analytics tool, why accidents like the Notre-Dame fire happen, and more

Visor fails, Pilot raises, and the arrogance of the tech industry in accounting

Visor fails, Pilot raises, and the arrogance of the tech industry in accounting

Rachel Fisch joins the podcast as our special guest! We discuss David’s investigation of Visor, which did NOT have a great busy season. In other news, Zoom is about to go public, online tax filing is on the rise, Pilot (the AI accounting startup) raised $40 million, Eide Bailly is acquiring a data analytics service, the IRS released a plan to modernize its computer systems, and we wonder if the CPA license is loosing its luster.

Congress to ban IRS from creating online tax filing software, more CPA firms allowing work from home, update on QuickBooks Online Advanced, and how to brainwash your staff with an app

Congress to ban IRS from creating online tax filing software, more CPA firms allowing work from home, update on QuickBooks Online Advanced, and how to brainwash your staff with an app

The house passed a bill permanently banning the IRS from creating its own free online tax preparation software; as cashless stores grow, so does the backlash; at least one educator is still teaching people how to use Quicken for business accounting; updates from Xero, Canopy, TaxJar, and QuickBooks; a hack for avoiding the new rate limits on QuickBooks Online, stats on how many CPA firms permit remote work and/or flexible schedules; how people who work from home are more productive; and why people have a reason to be paranoid when it comes to smart speakers

Congrats to the Top 50 Women in Accounting! Also, details on Intuit’s “Expert Connections” test, how many accounts you should have in your CoA, and more

Congrats to the Top 50 Women in Accounting! Also, details on Intuit’s “Expert Connections” test, how many accounts you should have in your CoA, and more

Shoutouts to some of our favorite people on the new Top 50 Women in Accounting list by Practice Ignition, details on “Intuit Expert Connections,” another test that Intuit is running to gauge interest in a marketplace to connect tax pros and tax firms, a report suggesting that Congress should extend tax season, metrics on the typical number of accounts in a Chart of Accounts, the latest M&A activity in the cloud accounting ecosystem, a survey about remote work, and more

Is Botkeeper singing a different tune? Follow up on QuickBooks Live, IRS internal controls are a joke, a VERY expensive accounting textbook, and JP Morgan is getting into the blockchain game

Is Botkeeper singing a different tune? Follow up on QuickBooks Live, IRS internal controls are a joke, a VERY expensive accounting textbook, and JP Morgan is getting into the blockchain game

The founder of Botkeeper has called it “a full bookkeeper replacement; it’s a robo-bookkeeper.” Yet according to new information, Botkeeper may not be quite as robotic as it claims. Listen in for all the details.

The Super Bowl meets expense reports, nurses beat accountants for honesty & ethics, tax season could get ugly given the shutdown, another new $99 tax service for the masses, and more

The Super Bowl meets expense reports, nurses beat accountants for honesty & ethics, tax season could get ugly given the shutdown, another new $99 tax service for the masses, and more

In this episode: David shares his experience at the AICPA Annual Executive Roundtable for software vendors, Super Bowl LII will feature an ad about expense reports, tax season could get really ugly as only 57% of IRS workers return (unpaid), (another) new $99 tax service for the masses, ScaleFactor raises $30 million from Bessemer, BeachFleischman teams up with a small firm to create a new virtual firm called MOD Ventures, nurses take the top spot for most trustworthy professions (but accountants aren’t far behind), Google raises prices for G Suite, Will Farnell announces a 6-hour workday for his firm, Bank of America’s Zelle P2P payments service takes off, and efforts to evolve the CPA license to match evolving technology