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AI is flooding the IRS
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I share the 4-5 most important accounting that actually matter. I scroll so you don’t have to.
So grab your coffee, take a quick break, and lets catch up.
Today’s Ledger:
Dead people almost got paid.
AI flooded the IRS.
America minted millionaires.
WTF of the Day🤯
Treasury Found $99 Million Headed To Dead People
The federal government sends out a huge amount of money every day. Social Security checks, tax refunds, benefits, vendor payments, all of it. Treasury just added a new check to make sure that money is not going to people who are already dead. It ran the check on 885 million payments worth about $2.77 trillion.
It caught more than 4,900 payments before they went out. Those payments were worth about $99 million. That is the whole point. Once bad money leaves the government, it is much harder to get back.
Read the article
What’s poppin in accounting🍿
The IRS Has An AI Comment Problem
The IRS and Treasury have to read public comments before they finalize major tax rules. That sounds boring until you realize those comments can shape how the rules work. Now the GAO says the agencies are getting flooded with comments, and a lot of them may be written by AI. The problem is that AI can make thousands of comments say almost the same thing in slightly different words, which makes it harder for the IRS to spot copy-paste campaigns.
This matters because the IRS has a huge pile of new tax rules to write after last year’s tax law, including rules for tips, overtime, seniors, and car loans. If the comment process gets clogged, real feedback from tax pros can get buried under machine-made noise. GAO said the IRS needs better rules for mass comments, better virtual hearings than old-school phone dial-ins.
Read the article
Weekly Trend Chart 📊
America Is Still The Millionaire Factory
Almost 1 million people became new millionaires in 2025. That means roughly 2,680 people crossed the $1 million line every day. But the wild part is where it happened. The U.S. added 441,078 new millionaires in one year, which was nearly half the global total. The UK came in second with 43,139. That is not close. It is a different sport.
The reason is pretty simple. Americans own a lot of stocks, the market had a strong year, and the economy held up better than people expected. Europe still had a strong showing, with the UK, France, Spain, Italy, and Germany all near the top. Asia added plenty too, with Japan and India each creating more than 31,000 new millionaires. But nobody touched the U.S.
Meme of the Day😂
who doesn’t love a good Sopranos meme 😂