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

Accountant’s $3.9M Scam

Tennessee CPA has been indicted for wire fraud, money laundering, and tax fraud, with losses totaling over $3.9 million. Prosecutors say he funneled client funds into personal accounts, claiming they were for tax payments, and used the money for luxury vacations and high-end purchases.

If convicted, he faces decades in prison.

Why it matters? It’s a reminder to double-check your accountant’s work, trust but verify.

Source: Department of Justice

💎 What’s poppin in accounting

IRS works to deter tax season scams

The IRS is cracking down on tax scams this season, focusing on shady tactics like fake fuel tax credit claims and phishing schemes targeting tax pros and taxpayers. They’ve teamed up with a new task force called CASST (Coalition of Scam and Scheme Threats) to stop fraud before it hits your wallet.

What’s the plan? More public warnings, smarter tools to detect fake returns, and tighter security for tax systems. Translation: they’re trying to make tax season less of a scammer’s playground.

💎 Master 1099s Without Breaking a Sweat.

1099s Don’t Have to Suck

January headaches? Not anymore. Keeper makes W-9 collection stupid simple.

Keeper’s 1099 Report hooks into your QuickBooks or Xero account and flags every vendor that needs a 1099. Missing a W-9? No problem. Shoot a request straight from the Client Portal – to your clients or vendors.

No more scrambling. No more stress. Just effortless W-9 management baked into your monthly routine.

See how Keeper works

 📊 Weekly Trend Chart

Amazon vs. eBay - A Rivalry No More

eBay and Amazon were once fierce competitors, but Amazon pulled ahead with Prime, next level logistics, and a relentless focus on customers. Now eBay is playing catch up with a new strategy, teaming up with Meta’s Facebook Marketplace.

eBay is partnering with Meta to let sellers list items on Facebook Marketplace directly from eBay’s platform. The goal? Reach more buyers, leverage Facebook’s massive user base, and compete with Amazon in resale and secondhand markets.

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