Talking Tax

By: Bloomberg Tax
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  • Summary

  • Talking Tax, from Bloomberg Tax, is a weekly discussion of the most pressing issues facing tax and accounting professionals. Each week the podcast features discussions with lawmakers, federal regulators, lawyers, and journalists. From the courts to Capitol Hill to the IRS, Talking Tax has it covered.
    © 2024 Bloomberg Industry Group, Inc. All Rights Reserved
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Episodes
  • California Explores Relaxing CPA Education Rules

    California Explores Relaxing CPA Education Rules
    Oct 29 2024
    California regulators are prepared to walk away from strict licensing rules that require accountants to earn the equivalent of five years of college to qualify. The California Board of Accountancy has proposed reforms that would grant the certified public accountant license to candidates with a traditional bachelor’s degree plus two years of work experience in addition to passing the CPA exam. The proposal would unwind current rules that call for 150 hours of college credits to qualify—a requirement that is seen as a barrier to entering the profession. Instead, the board's draft legislation would strip the specific number of college credits from its rulebook to focus on the degree earned or the candidate’s coursework. State lawmakers would have to approve any changes. Bloomberg Tax senior reporter Amanda Iacone spoke with Dominic Franzella, the executive officer of the state accountancy board, about how California's proposal matches up against related reforms the American Institute of CPAs introduced in September and whether the state’s plans could help address the shrinking pipeline of future accountants. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
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    19 mins
  • Corporate Tax Leaders Weigh AI's Risk-Reward Calculus

    Corporate Tax Leaders Weigh AI's Risk-Reward Calculus
    Oct 23 2024
    Artificial intelligence is becoming a bigger part of tax practice and policy every day. The Big Four are spending billions of dollars on AI models, and even mid-tier accounting firms seem willing to at least tread into generative AI transformation, albeit slowly. These investments raise questions about how corporate in-house tax departments are evaluating AI integration. In this special edition of Talking Tax, Bloomberg Tax Insights editor-at-large Rebecca Baker chatted with three different in-house tax leaders to hear their views on the emergence of AI in the profession, and in their lives. While they all agree AI must be part of the conversation now, they have different takes on how it should be used—or if it should even be used at all. Kurt Lamp, vice president of global tax at Amazon, is the most bullish on pulling AI tools into the corporate tax function, noting the ability to extract data and automate tasks. Jessica Reif-Caplan, legal principal in tax and business development at Edward Jones, takes a longer view on understanding functionality before moving to simplify. Then Sandhya Edupuganty, vice president of tax at Sabre Corporation, grapples with what can be gained from using AI and also what can be lost. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
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    15 mins
  • Corporations Face Tax Uncertainty Ahead of 2025 Cliff

    Corporations Face Tax Uncertainty Ahead of 2025 Cliff
    Oct 16 2024
    The fate of the 2017 GOP tax overhaul is top of mind for corporations in the weeks leading up to the election. Many of the law's provisions are expiring in 2025, setting Congress up to negotiate another major tax law. Corporations are closely watching what happens to bonus depreciation, interest expense deductions, and research and development expensing, S&P Global Rating Managing Director Shripad Joshi said. Plus, both presidential candidates have campaigned on changing the corporate tax, which the 2017 law permanently lowered to 21%. Without knowing who will control the White House and Congress next year, it's difficult for corporations to plan ahead. Right now, they're reviewing tax proposals that may be considered and modeling how different scenarios could impact them. That means figuring out where their tax weaknesses lie and parsing out which changes could hurt or help cash flow the most. On this episode of Talking Tax, Bloomberg Tax reporter Erin Schilling talks with Joshi about how corporations are dealing with this uncertainty and which tax policy changes will affect them the most. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
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    12 mins

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