The Tuesday Lowdown ⬇️

Miss Monday’s Lowdown?

Yeah, I skipped it.

Everything I saw felt like watching paint dry. And I’d rather send nothing than waste your time with boring crap.

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

IRS Pick Made $250K on Shady Tax Credits

Billy Long, the new pick for IRS Chief Counsel, reportedly made $250,000 promoting the sketchy COVID-era Employee Retention Credit (ERC). He got paid for speeches and videos hyping the credit, even after the IRS started warning people about widespread fraud.

Now he might help run the agency? Wild. This kind of revolving door stuff is exactly why accountants stay skeptical.

Source

💎 What’s poppin in accounting

AICPA Eases the Rules for CAS Firms

The AICPA just made life a little easier for accountants. They approved a rule that clears up when firms need to follow strict reporting rules and when they don’t.

Example? If a small business just wants a simple financial report to keep track of expenses or show to a board, not for banks or investors you don’t need to slap on all the official GAAP rules.

Firms offering CAS services can now breathe a little easier and stop second guessing themselves every time a client asks for a quick report.

Source

 📊 Weekly Trend Chart

TikTok Ban Delayed Again

The TikTok ban? Yeah, it’s on pause. Again.

Congress was supposed to vote on it this week, but they pushed it off. Why? Because more Americans than ever, especially younger ones are saying “don’t touch my For You Page.”

TikTok isn’t just goofy dances anymore. It’s where people learn how taxes work, discover new products, get news, and sometimes even job tips.

Trying to ban it now is like trying to take away cable in 1999, it won’t end well.

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