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

IRS Hits Pause on Big Tech Makeover

Oh no… another budget headache for the IRS. They were supposed to get $80B to upgrade their tech, but Congress chopped it to $37.6B and the new administration hit pause.

Big projects are shelved, 48 tech execs are on paid leave, and the focus now is quick fixes: kill paper, speed up software launches, and sprinkle in AI for compliance.

💎 What’s poppin in accounting

Tax Pros Are Now Calling Shots

Tax nerds aren’t just crunching numbers anymore, they’re in the boardroom. A new BDO survey says 9 out of 10 tax leaders are brought in before big business decisions get made, and CFOs are leaning on them for strategy.

Shifting tax laws, trade rules, and policy changes are pushing tax pros into the driver’s seat for growth plans, M&A, and risk strategy. More than half are investing in training to make sure they keep that seat.

 📊 Weekly Trend Chart

Shopify Just Dethroned Canada’s Biggest Bank

Shopify crushed earnings so hard that it leapfrogged Royal Bank of Canada to become the country’s most valuable public company…again.

Revenue’s expected to grow high 20% YoY, sending SHOP stock soaring and the Toronto market to a record high. Last time Shopify held the crown (2020), the hype fizzled. This time, with e-commerce demand still climbing, they might actually keep it.

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