The Friday 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

Big Four Slam ICAI’s New Rules as Overreach

India’s accounting regulator (ICAI) wants foreign firms like the Big Four to spill a ton of private info, stuff like lawsuits against employees, revenue from offices overseas, and every dime sent between countries.

The Big Four say the rules are confusing, overreaching, and could wreck smaller Indian firms that rely on global partners. Their message? These rules don’t help, they just make everything messier.

Source: Economic Times 

💎 What’s poppin in accounting

IRS Boosts Tax Certainty for Big Players

IThe IRS just gave its Pre-Filing Agreement (PFA) program a facelift. If you’re a big business or international taxpayer, this lets you hash out tricky tax issues with the IRS before filing your return, meaning fewer nasty surprises later.

The update adds a streamlined site, step-by-step instructions, faster response timelines, and a guide to help you decide if your issue even qualifies. It’s basically the IRS trying to be more helpful or at least more predictable for companies that want clarity up front.

Source: IRS.gov 

 📊 Weekly Trend Chart

YouTube Loosens Moderation After Removing 220 Million Videos

After years of aggressive takedowns, over 220 million videos removed since 2018, YouTube is now backing off a bit. New rules quietly rolled out in December let more content stay up if it's "in the public interest," even if it partially breaks guidelines.

Why the shift? YouTube’s trying to avoid being labeled biased, especially in an election year, and follow Meta and X in loosening the reins.

#😂 

😂 

P.S. What'd you think of today's edition? Hit 'reply' to this email and lemme hear it!