Imagine setting up a $1.8 Billion piggy bank and legally banning anyone from looking inside. That is exactly what a secret DOJ settlement just did. Senate Finance Democrats are panicking because this deal completely bypassed normal government rules. Even crazier? It instantly killed active audits into Trump and his allies. Just wiped the slate clean. Ron Wyden is demanding a full investigation today. Most people think government funding follows strict laws. This proves that if you know the right people, the rules don't apply.

35 retired judges want to reopen Trump’s IRS case. They say the dismissal hid a secret deal. The judges think the court was misled. They are now calling for a fraud probe into the settlement. #irs

Tariffs are crushing your exporter clients. But there's a tax structure most CPAs overlook: IC-DISC (Interest Charge – Domestic International Sales Corporation). Properly used, it converts ordinary income into qualified dividends. Real savings for export-heavy businesses in a tariff storm.

AICPA to IRS: we need guidance on itemized deductions and Trump Accounts. NOW. Tax season is in full swing and CPAs are filing returns without knowing the rules. That's not a great situation.

SEC and PCAOB audit enforcement dropped 33% in 2025. Fewer actions. Smaller fines. Lighter pressure. Whether that's a feature or a bug depends on who you ask — but auditors should know the landscape just changed.

The IRS shared taxpayer data with ICE 42,695 times — and a federal judge just ruled it broke the law. CPAs: your clients' 1040s were used for immigration enforcement. Here's what you need to know about confidentiality going forward. 🧵

Tax season is here — and so are we. @LedgerLowdown delivers the most important accounting, tax, and finance news to 70,000 CPAs every week. Free. Subscribe: ledgerlowdown.com/subscribe

IRS just banned Chinese components from clean energy tax credits. If your clients claimed credits on solar/wind with Chinese parts, they need to know this now.

Tax season reminder: Your client's "shoebox of receipts" is not a bookkeeping system. Pass it on.

AI partnerships are transforming accounting firms—KPMG teams up with Salesforce & Google to boost tech capabilities. Key takeaway: Embrace AI tools to stay competitive and efficient. Source: Accounting Today #AccountingNews #AIinAccounting

Looking to optimize your firm’s tax strategy? Life Time’s Q3 report shows a tighter income tax provision of 24% and increased adjusted EBITDA driven by dues revenue growth, highlighting the importance of forecasting tax impacts in evolving business models. Details: #Accounting #T

AI is transforming accounting firms faster than ever. Key takeaway: Embrace AI partnerships to streamline workflows and stay competitive. Source: #AccountingTech #AIinAccounting

AI risk disclosures surge in S&P 500 filings—nearly 75% now report at least one AI-related risk in 2025. Key takeaway: Accountants must review and strengthen risk assessment procedures for AI integration. Source: Journal of Accountancy #AccountingNews #AIinAccounting

AICPA urges IRS for safe harbor on 2025 tip & overtime reporting—current forms don’t support new rules. Key takeaway: Watch for guidance to avoid compliance issues. #Accounting #Tax

Breaking: US Supreme Court to hear challenges to presidential tariff powers this Wed, with potential big ripple effects on trade compliance and tax strategies for accountants. Stay alert for rulings that could reshape tariff accounting. Source: BlackRock Insights[1] #AccountingNe

AI could automate 90% of month-end close tasks, freeing accountants for higher-value work. Stacks founder Albert Malikov says the "one-click close" is finally within reach. Source: #AccountingTech #AIinAccounting

New IRS relief on 2025 car loan interest reporting gives accountants more time to comply as IRS delays form updates until 2026. Plan accordingly to avoid client disruption. Details at AICPA's Journal of Accountancy. #TaxNews #AccountingUpdate

AI risk disclosures are surging: Nearly 75% of S&P 500 firms now report at least one AI-related risk in 2025 filings. Accountants must stay ahead of compliance and reputational risks. Source: Journal of Accountancy #AI #AccountingNews