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

Think You Can Out-Smart the IRS?

It’s called Write It Off? and it’s stupid and fun. We built a quiz where CPAs have to guess if something’s deductible or not.

Mess it up and boom, IRS strike. It’s fast, brutal, addictive. Bet you can’t make it past 10 questions.

👉 Play here

💎 What’s poppin in accounting

IRS Dropped the Ball on Nonprofit Hospitals

The IRS is supposed to check if tax-exempt hospitals are actually doing enough to help their communities. But they’ve been slacking. A watchdog report found nearly 150 hospitals were never even reviewed. And thanks to unclear rules, it's not obvious what counts as “helping the community” in the first place.

The IRS admits the system is outdated, short-staffed, and missing critical hospitals. Congress might step in to fix it, but until then, a lot of nonprofit hospitals are skating by without proving they deserve those tax breaks.

Source: Accounting Today

 📊 Weekly Trend Chart

Apple’s Supply Chain Just Got Punched in the Face

China’s smartphone exports to the US dropped 72% in April, the lowest since 2011. Tariffs froze the pipeline, and laptops and storage gear took a hit too.

China normally ships over $2B in phones a month. In April? Just $689M. And no, Apple’s not moving production to the US anytime soon.

#😂 

That seems like the same person 😂 

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