The Wednesday Lowdown ⬇️

If you're new around here, every day I share the 4-5 best accounting insights I saw in the past 24 hours.

I scroll. so you don't have to.

💎 WTF of the Day

Accountants Are Cool With AI Taking Over

A new survey found 72% of accountants are totally fine with tech doing jobs humans used to do and most firms are already making it happen.

About 64% say they’ve replaced at least one task with automation or AI, and over half admit AI makes them more effective (even if it doesn’t make the job more fun).

Big firms are leading the charge, using AI for research, fact checking, and client comms, mostly to fill empty roles, not cut people. Still, 46% think firms will eventually need fewer humans. Like it or not, the calculators are coding now.

Source: Accounting Today

💎 What’s poppin in accounting

Extended Returns Are Still Due Oct. 15

The IRS just reminded everyone that even with the government shut down, your taxes don’t get a break. Returns on extension are still due Wednesday, Oct. 15, with about 20 million expected.

Half the IRS staff might be furloughed, but the deadlines aren’t. File online, pay online, and if you’re old school mailing it in, make sure it’s postmarked by midnight. Only a few groups, like disaster victims and those affected by terrorism, get more time.

 📊 Weekly Trend Chart

Babies on Smartphones

A new Pew study found 38% of kids under 2 are already using smartphones. Most of that screen time comes from parents streaming YouTube cartoons, which now reach 62% of toddlers, up from 45% five years ago.

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