Tariff Refund Opportunity for Accountants & Taxpayers Don't Trust AI
The Accounting Podcast
Country-Level Tax Disclosures and Profit Shifting
David reviews FASB disclosures showing US multinationals pay more tax abroad than in the US.
SCOTUS just struck down Trump’s global tariffs—so who gets the $133B back, and how can firms capture advisory fees helping clients claim refunds? Blake and David unpack importer-of-record refunds, contingency-fee questions, and why “that’s pure profit.” Plus: taxpayers’ trust in AI tax prep is falling, creators’ $205B economy is a prime niche, TurboTax’s Uber-to-the-office play, Big Law’s $3,400/hour AI squeeze, and Dawn Brolin’s nonprofit sending first-timers to conferences you can support.
Sponsors
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Chapters
- (00:00) - TAP 476
- (02:53) - Who Gets the Tariff Refunds? Importer of Record & Profit Impact
- (05:28) - Big Opportunity for Accounting Firms: Tariff Refund Advisory & Fees
- (08:55) - Flashback Clip: We Called the Tariff Ruling Months Ago
- (12:59) - Sponsors + Trump’s Next Move: New Tariff Authority Workarounds
- (15:04) - Live Q&A: If Tariffs Were Passed to Buyers, Who Gets Paid Back?
- (16:46) - IRS Update: Average Refunds Up, But Median Still Unknown
- (18:13) - Taxpayers Trust AI Less for Filing + Creator Economy Tax Niche
- (22:13) - TurboTax + Uber Rides: The Customer Experience Arms Race
- (27:12) - Sponsor Break + Business Tax Shift: FASB Country-by-Country Disclosures
- (30:19) - IRS Still Drowning in Paper: Digitization Goals Missed
- (31:41) - Gambling Loss Deduction Cut to 90%: Why Break-Even Gamblers Still Owe Tax
- (32:58) - Skims vs. New Jersey: Sales Tax ‘Technical Error’ and the $200K Penalty
- (34:06) - Big Law’s Billable Hour Squeeze: AI Cuts Hours, Partners Jack Up Rates
- (36:12) - DIY Legal Work with ChatGPT: When a $30 Subscription Replaces a Lawyer
- (37:51) - Big Tech’s AI Data Centers Create a Depreciation Blind Spot for Investors
- (41:50) - KPMG Partner Fined for Using AI to ‘Cheat’ on an AI Exam
- (43:21) - Congress Targets the Pentagon’s Audit Failures: The ‘RECEIPTS Act’
- (47:52) - Only 2–3 Hours of Deep Work a Day: Meetings, App Overload, and Hybrid Teams
- (50:17) - Interview: Accounting Cornerstone Foundation Helps First-Timers Attend Conferences
- (52:09) - How the Foundation Works: Funding, Emotional Support, and Picking Awardees
- (56:36) - Impact Stories & What’s Next: Alumni Mentorship, Fundraising, and Growing the Mission
- (01:00:16) - Wrap-Up: How to Support + Earn CPE/CE Credits in the Earmark App
Show Notes
Supreme Court Rules 6-3 That IEEPA Does Not Authorize the President to Impose Tariffs
https://www.supremecourt.gov/opinions/25pdf/24-1287_4gcj.pdf
Supreme Court Strikes Down Most of Trump's Tariffs in a Major Blow to the President
Supreme Court Strikes Down IEEPA Tariffs — What Now?
IRS Average Refunds Up $200 This Filing Season
https://www.accountingtoday.com/news/taxpayers-hesitant-to-trust-ai-to-prepare-tax-returns
Most Taxpayers Trust Tax Pros Over AI for Tax Preparation, Survey Finds
Online Creators Worried About Finances and Income Taxes — A Growing Opportunity for Tax and Accounting Pros
Intuit TurboTax Delivers the Ultimate "Done-For-You" Tax Experience Powered by AI and Human Intelligence With Uber Rides
US Companies Pay More Taxes Abroad Than Here
https://www.accountingtoday.com/news/us-companies-pay-more-taxes-abroad-than-here
IRS Falls Far Short on Paperless Processing Goal
https://www.accountingtoday.com/news/irs-falls-far-short-on-paperless-processing-goal
Will the OBBBA Gambling Deduction Change Be Reversed?
https://www.natptax.com/news-insights/blog/will-the-obbba-gambling-deduction-change-be-reversed/
Kim Kardashian's Clothing Company Settles New Jersey Sales Tax Allegations
Big Tech Accounting Creates a Blind Spot in the AI Boom
https://news.futunn.com/en/post/68828373/big-tech-accounting-creates-a-blind-spot-in-the-ai
KPMG Partner in Australia Fined Over Using AI to Pass AI Test
Lawmakers Seek to Penalize DoD if It Fails to Pass a Clean Audit
New Hubstaff Research Finds Workers Average Only 2–3 Hours of Focus Time Per Day
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