(HOLIDAYS EDITION) The Thursday Accrual: December 25, 2025

Profit & Loss Report

Senators Pushes for IRS to End Hiring Freeze Ahead of Filing Season

Senators urge IRS Acting Commissioner Bessent to lift the hiring freeze before the 2026 filing season, noting losses could delay returns and services. Authorities seek plans to hire 3,500 employees to meet service goals and address OBBB Act gaps.

IRS and TAS lost 17–19% of staff, with nearly one in four TAS advocates departing, creating backlogs and strained support. Experts warn shortages may persist even if the freeze ends, raising noncompliance, especially among higher taxed earners.

Source: Thomson Reuters

Rare Accounting Oddities

What’s the most controversial “Asset” accountants have measured?

DYK accounting has wandered into human territories? Human Capital Accounting estimates the value of a person based on factors like education, skillsets, and productivity. 

It’s used in economics and workforce planning to guide decisions on hiring, training, and investing in talent - not to price people, but to highlight the value they’re creating.

Controversial yet still fascinating, it reminds us of one accounting truth: people may not be on the financial statements, but they’re often the most valuable asset known to mankind.

Earning CPE Credits While Mastering Alteryx

Upgrade your Alteryx skills beyond the next level in Wisdify.

Learn data transformation processes, spatial analysis, macros, and analytic apps using real-world financial datasets.

Format: 5–20 min videos, 6 quizzes, final assessment
Field of Study: Information Technology
Prerequisites: Wisdify’s Alteryx Fundamentals for Financial Analysis

Learn how to:

• Apply advanced data transformation methods

• Optimize workflows for speed and scalability

• Collaborate with spatial data to uncover trends

• Build macros and analytic apps for automation 

Reach for high-value clients and strategic positions in Wisdify. 

Access All Wisdify CPE Courses for $39

Journaling Insider

IRS Updates on Interest Deductions and Premium Credit Repayments

The IRS updated FAQs on Sec. 163(j) business interest limits and Sec. 36B premium tax credits under the One Big Beautiful Bill Act. Taxpayers relying on the FAQs in good faith can avoid certain penalties, however the guidance is not binding.

After 2024, Sec. 163(j) allows addbacks for depreciation, amortization, or depletion and expands floor plan interest, with clarifications on interest and CFC income. The law also removes caps on repaying excess premium tax credits by 2026.

Source: Journal of Accountancy

Making Cents of Accounting

“Cross the Road Later”

Accountant 1: “Why did the accountant cross the road?”

Accountant 2: “To balance the other side?”

Accountant 1: “Exactly. And reconcile more statements.”

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