⬇️ 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

IRS Nominee Says, "Enough’s Enough" to Shady Audits

The IRS watchdog nominee just put the IRS on notice. If he gets the job, he’s promising to dig deep into any abusive audits and call out the unfair targeting of taxpayers.

The nominee’s message? No more loopholes for sketchy audits. Get the scoop on what this means for regular folks and businesses alike, as he takes a stand to make tax enforcement fair again.

Source: Bloomberg Tax

💎 What’s poppin in accounting

US Audit Board Cracks Down on “Phantom Firms”

In a big move, the US audit regulator is tightening the reins on ghost firms—the shady companies that exist on paper but vanish when it’s time for accountability.

New rules mean that if these firms don’t keep up with regulations, they’ll be automatically kicked out, no questions asked. This could mean cleaner audits, more transparency, and fewer corporate cover-ups.

Source: Bloomberg Tax

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 📊 Weekly Trend Chart

Did Streaming Kill “Greatest Hits” Albums?

Remember when artists dropped "Greatest Hits" albums to rake in extra cash and keep fans hooked? Streaming changed all that. Now, listeners create their own playlists, and record labels are scrambling to keep up.

With fans cherry-picking the best tracks themselves, the traditional "Greatest Hits" album might just be a relic of the past.

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