The Accounting Podcast The CPA Who Controls Epstein's Fortune
Dec 22, 2025
A deep dive into the CPA and lawyer who managed a notorious financier's complex fortune and financial operations. A look at alleged startup fraud and how investors and regulators are responding. Discussion of tax questions around prediction markets and shifting cannabis rules. New tech moves in government and finance, plus AI risks for accounting, including fraud vectors and job impacts.
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Prediction Markets Face Tax Uncertainty
- New tax rules limit gambling-loss deductions to 90% of winnings, creating odd outcomes for prediction markets.
- The IRS may treat prediction markets differently than the CFTC, leaving tax treatment unclear.
IRS-CI Had A Record Year In 2025
- IRS Criminal Investigations identified $10.59 billion in financial crimes in FY2025 and doubled tax-fraud detections.
- CI increased search warrants, referrals, and prosecutions despite broader IRS budget issues.
Lawyer Tries To Make Dog A Tax Dependent
- Attorney Amanda Reynolds sued the IRS seeking to classify her dog as a dependent under section 152.
- The suit argues the dog meets dependency criteria except for not being human, but the IRS moved to dismiss.