Ledger Lowdown

Treasury Wants to Cut Off Tax Benefits for Illegal Immigrants

Illegal immigration just jumped back to the top of the political food chain. Treasury Secretary Scott Bessent says his department is gearing up to shut off federal benefits for undocumented immigrants, following a new order from President Trump. This move ties directly to the fallout from a recent fatal shooting involving National Guard members and the broader fight over what benefits undocumented migrants can access.

2 Tax Rule Changes That Could Crush Your Rental Home Profits

Renting out your home used to feel like the ultimate cheat code. Someone else covers the mortgage, you pocket extra income, and the IRS lets you deduct a bunch of expenses. But two tax rule changes are now shrinking that upside. If you own a home and rent it out even part of the year, your actual profit might be a lot lower than you expect.

The DOE Might Cut Accounting Out of Professional Degree Status And The Profession Is Pushing Back

Accounting groups warn that a new federal plan could limit student loans for graduate students and shrink the pipeline of future CPAs.

IRS Plans New Tax Credit Rules for K-12 Scholarship Donations

The IRS is drafting rules for a new federal tax credit that gives individuals up to $1,700 a year for donating to scholarship-granting organizations serving low and middle income K-12 students.

FASB Just Expanded Hedge Accounting: Here’s What Accountants Need to Know

FASB expanded hedge accounting rules. Here’s a breakdown of what changed and how it affects accountants.

Why Female CPAs Are Happier

9M Whoops + Hack Fine + MrBeast’s Bank Play

Accountants Embrace AI + IRS Says Oct. 15 Still Deadline

Why Accounting Firms Are Replacing Billable Hours With Subscription Pricing

CRI Expands in Texas With WSM Merger as Survey Reveals Partner Pay Gaps

SEC Chair Warns IFRS Funding Crisis Could Reignite GAAP Reconciliation

IRS Cracks Down on Illegal Betting, $2B Pandemic Taxes Unpaid, and ChatGPT Surges as School Returns