The Wednesday Lowdown ⬇️

No newsletter yesterday. Why? Nothing worth clogging your inbox for.

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

Macy’s accounting mess update

The IRS axed 25% of its workforce this year, then realized they cut too deep. Now they’re literally emailing ex-employees asking if they want to un-quit and come back.

Watchdogs also found many of the people they fired weren’t “bad performers” at all — most had solid reviews. So yeah, the tax cops may have fired the wrong people… and now they’re scrambling to fix it.

Source: journal of accountancy

💎 What’s poppin in accounting

IRS Adds New Boxes to W-2 for Tips and Overtime

Starting in 2026, the W-2 will have new boxes for tips and overtime.

• Tips: Deduct up to $25K (if you make under $150K).

• OT: Deduct up to $12.5K single / $25K joint.

The breaks already apply for 2025, but the forms won’t catch up till filing season. Translation: accountants are gonna be busy cleaning up the mess.

Source: accounting today

 📊 Weekly Trend Chart

Cracker Barrel’s new logo just tanked its stock

Cracker Barrel chopped the old timey man and barrel out of its logo and went with this stripped down orange box. Fans hate it. Donald Trump Jr. hates it. Even the stock market hates it, shares fell 12% after the reveal.

The company says it’s about “getting back to the barrel roots,” but critics say it looks like every other boring, PE-washed rebrand. And with sales growth already slowing, a fresh logo probably isn’t the magic fix.

#😂 

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