Blake and David jump into the latest news, including the launch of Trump's own cryptocurrency and KPMG's expansion into legal services in Arizona, taking advantage of new rules allowing non-lawyers to own law firms. They also examine the Treasury Department's Chinese hack attack, South Carolina's $1.8 billion accounting error resolution, and Trump's proposed External Revenue Service.

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Chapters

(00:48) - Trump's TikTok Saga
(03:35) - Live Stream and CPE Credits
(04:48) - Trump's Cryptocurrency Launch
(06:54) - Sage AI Data Leak Incident
(12:27) - Relay Sponsorship and Banking Solutions
(14:13) - Trump's Cryptocurrency Impact
(28:06) - Direct File and IRS Developments
(32:45) - KPMG Enters Legal Services
(38:51) - Tax Bandits: Streamlining Your Tax Season
(39:50) - Legal Document Automation with AI
(41:04) - South Carolina's $1.8 Billion Accounting Error
(45:56) - Trump's External Revenue Service Proposal
(49:54) - Chinese Hackers Breach U.S. Treasury
(56:51) - FDIC Sues Silicon Valley Bank Executives
(01:04:39) - American Express Settles for $230 Million Over Bad Tax Advice
(01:08:28) - Testing Google's Gemini Advanced for Tax Research
(01:12:17) - Earn Free CPE Credits with Earmark
(01:14:22) - Conclusion and Live Stream Announcement

Show Notes

TikTok restores US service after Trump says “we have to save it”

https://www.reuters.com/technology/tiktok-goes-dark-us-users-trump-says-save-tiktok-2025-01-19/

Donald and Melania Trump debuted meme coins, $Trump and $Melania. Here's what to know.

https://www.cbsnews.com/news/donald-trump-melania-meme-coin-cryptocurrency-what-to-know/

KPMG’s Bold Move: How Arizona’s ABS Rules Are Reshaping the U.S. Legal Landscape

https://lawleaders.com/kpmgs-bold-move-how-arizonas-abs-rules-are-reshaping-the-u-s-legal-landscape/

IRS Direct File set to expand availability in a dozen new states and cover wider range of tax situations for the 2025 tax filing season

https://www.irs.gov/newsroom/irs-direct-file-set-to-expand-availability-in-a-dozen-new-states-and-cover-wider-range-of-tax-situations-for-the-2025-tax-filing-season

Sage Copilot grounded briefly to fix AI misbehavior

https://www.theregister.com/2025/01/20/sage_copilot_data_issue/

FDIC sues 17 former Silicon Valley Bank executives over collapese
https://www.cnn.com/2025/01/16/business/fdic-sues-svb-executives-directors-intl-hnk/index.html

FDIC sues former SVB execs over bank closure

https://bankingjournal.aba.com/2025/01/fdic-sues-former-svb-execs-over-bank-closure/

SoftBank-Backed Fish Firm Allegedly Faked Most of Its Sales

https://finance.yahoo.com/news/softbank-backed-fish-startup-allegedly-141253969.html

American Express to pay $230 million to settle US charges over deceptive sales practices

https://www.reuters.com/business/finance/american-express-pay-1087-mln-settle-deceptive-marketing-allegations-justice-2025-01-16/

U.S. Sanctions Chinese Cybersecurity Firm Over Treasury Hack Tied to Salt Typhoon

https://thehackernews.com/2025/01/us-sanctions-chinese-cybersecurity-firm.html

SC auditor resigns after outside audit found $1.8 billion ‘surplus’ was actually an accounting error

https://www.wistv.com/2025/01/23/sc-auditor-resigns-after-outside-audit-found-18-billion-surplus-was-actually-an-accounting-error/

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Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.

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TikTok & IRS Direct File Saved; Trump Issues Own Currency

The Accounting Podcast