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 vs IRS over Coke Money

The Big Four accounting firms are backing Coca Cola in a $3.3 billion tax battle with the IRS. The feds claim Coke funneled profits through foreign affiliates to avoid paying U.S. taxes. But the Big Four say the IRS is being "capricious" changing the rules after Coke already followed earlier guidance.

If the IRS wins, it could open the door for surprise tax bills on other big companies. It’s like the IRS is changing the rules after the game already started, and no one likes that.

For accountants, this isn’t just about Coke, it’s about protecting clients from tax rules that shift with the wind.

Source: Financial Times

💎 What’s poppin in accounting

Form 6765 Just Got Beefed Up

The IRS is coming for your R&D tax credits. They're adding a bunch of new questions to Form 6765, basically asking accountants to show their work like it’s high school math. You’ll need to break down how much each employee did, how wages were calculated, and hand over docs upfront.

Supporters say it's about stopping fraud. Critics say it’s a paperwork nightmare that’ll punish the honest pros more than the scammers.

If you work with R&D credits, heads up this could turn simple filings into mini audits.

Source: Accounting Today

 📊 Weekly Trend Chart

Snack Sales Finally Chill Out

After years of wild swings (thanks, pandemic), snack sales at America's convenience stores are finally calming down. For the first time in a while, people aren’t impulse buying 14 bags of chips at a time or totally ghosting the snack aisle.

The data shows we're settling into a new normal, more consistent shopping patterns and fewer surprise snack rushes. For brands and retailers, that means better forecasting and less guesswork.

#😂 

😂 cant unsee this now

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