From IRS Shakeups to CPA Pathways: Adapting to Change in Accounting

In episode 136 of The Woodard Report Podcast, hosts Joe Woodard and Heather Satterley tackled a wide-ranging set of topics from the latest IRS leadership shakeup to changes in CPA licensure rules, the importance of resilience, and the creative ways firm owners are carving out niches in the marketplace.

IRS commissioner turnover

The conversation began with breaking news out of Washington: yet another IRS commissioner will be stepping down in 2025. Heather highlighted the impact of this revolving door: “we now have another IRS commissioner leaving the IRS in 2025, which according to my research, I think that's now seven commissioners that we've had instilled and removed since January 2025.”

Joe observed that this frequent turnover can create uncertainty for practitioners and taxpayers alike. As he put it, “there's just so much change that a little steadying of the waters, I think, will also steady whoever fills this role.”

CPA pipeline: the 150-hour rule

Joe and Heather then shifted focus to the accounting profession itself. Several states are rolling back the long-debated 150-hour education requirement for CPA licensure, with Illinois being one of the most recent to reduce the threshold to 120 hours.

Heather offered her perspective: “I think the 150 rule was always a bad rule. I think if you have a degree in accounting and you have a couple of years of experience and you pass the exam, you're a CPA.”

Joe noted that lowering the barrier could encourage new models of practice. He said, “I think you'll see more entrepreneurship, these kids coming into college, these adults coming out of college saying, hey, I'm just going to be a very small AI enabled profitable practice.”

Pop culture wisdom

As always, Joe and Heather brought in a lighter, but thought-provoking segment with quotes from TV and movies.

Heather drew inspiration from White Lotus Season 3 with this quote from Kate: “One day I decided to trick my mind into loving beans. And now I do.”

She connected this to her own story about finding four-leaf clovers, noting, “…you convince yourself that something's true and that's what drives your reality.”

Joe, meanwhile, leaned on a line from the film 21: “It's not about the cards you're dealt. It's how you play them.”

He used the quote to remind listeners that resilience comes not only from optimism but also preparation. “Resilience is fueled by hope, but it is forged from the fires of resolve. And resolve requires both data and a plan.”

Trends and takeaways

In their “excellent things learned this week” segment, Heather shared survey findings from CPA Trendlines showing the financial benefits of specialization. “…these firms that are niching, were able to charge about 20% more than a firm that doesn't niche.”

Joe offered a look at AI performance, citing the latest stats. “GPT5 has a 1.4% hallucination rate. And GROC4 has a 4.8% hallucination rate. Now, the GPT that gave me those rates was GPT5. So, it may be lying about GROC.”

Heather cautioned that even with lower error rates, users should verify sources, noting that GPTs now often provide links to help fact-check.

Fun and community

The episode included some fun as Joe revealed in the “Two Truths and a Lie” segment: “I was a member of a singing group that opened for Ricky Martin and Minuto on live national television.”

The spotlight also turned to Gail Goldman and Randy Rose of Thrive Business Services, recognized for their successful CAS practice serving salons and med spas. Joe praised their workflow say, “Recently, Carbon made the same comment… letting them know this is how you deploy Carbon software. Do it like they do it.”

Heather added, “They are amazing. They are a dynamic duo for sure.”

Wrapping up

This episode closed with Heather recommending “Nailing Your Niche: Stop Taking Everyone as a Client” by Samantha Halburn and Candy Bello, a recent Woodard Report article that offers practical steps for defining niches with AI tools like ChatGPT.

Listen to the full episode and subscribe to The Woodard Report Podcast

🎧 Listen to the full episode at woodard.com/podcast.

Enjoyed this episode? Subscribe to The Woodard Report Podcast on your favorite platform for weekly insights that move your practice—and your life—forward. 

Thank you to our show sponsor, Bill, your financial operations platform. Bill is the intelligent way to create and pay bills, send invoices, manage expenses, control budgets and access the credit your business needs to grow all in one platform. 

This article was generated by AI and reviewed and edited by a human.