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Good morning. Here’s your quote of the day to start strong
“So many of us choose our path out of fear disguised as practicality.” - Jim Carrey
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:
IRS leaks its own agent’s tax info.
Deloitte eats a 6 Million audit fine.
America’s drunk driving limit looks pretty loose.
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WTF of the Day🤯
IRS Accused of Leaking Its Own Agent’s Tax Info
Brian Visalli spent 24 years investigating tax crimes for the IRS. Now he is suing the agency, saying IRS officials leaked his private tax information to Justice Department prosecutors and used it to make him look dishonest. His lawyers say the underlying tax issue had already been described internally as an oversight, not something willful.
The strange part is why he thinks it happened. Visalli says he spent years blowing the whistle on IRS managers for not going after promoters of abusive tax shelters. Then, according to the lawsuit, his own tax info somehow ended up being used against him. None of the allegations have been proven yet, but suing the IRS for leaking IRS tax data is a pretty wild sentence.
What’s poppin in accounting🍿
Deloitte Got Smacked With a 6 Million Fine
Deloitte was hired to audit parts of Go-Ahead Group, which means checking whether the company’s financial statements could be trusted. Regulators said Deloitte did not ask enough questions, did not challenge the evidence hard enough, and missed signs that should have made them think fraud might be possible.
That is a big deal because skepticism is basically the job. Auditors are supposed to poke holes in the story, not just accept the numbers. The fine started at £11 million, but Deloitte got it cut to £6 million after cooperating and admitting mistakes early.
Read the article
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America Is Pretty Chill About Drinking and Driving
Some countries do not mess around with drinking and driving. Czechia, Hungary, Romania, Slovakia, Brazil, and others have a BAC limit of zero. Meanwhile, almost every U.S. state lets drivers go up to 0.08%. Utah is the odd one out at 0.05% (shoutout mormons).
And maybe America should take a hint. In 2024, drunk driving crashes killed 11,904 people here, about one person every 44 minutes. Also more than 2,000 people died in crashes where the driver’s BAC was between 0.01 and 0.07, meaning they were below the usual legal limit. So yeah, “I’m under 0.08” does not mean “I’m good to drive.”
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