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- The Friday Accrual: October 10, 2025
The Friday Accrual: October 10, 2025
10/10/2025
Accountants Gone Wild
IRS Announces 2026 Tax Bracket and Standard Deduction Increases
The IRS announced 2026 inflation adjustments for over 60 tax provisions, including higher standard deductions and updated tax brackets. Standard deduction rises to $32,200 for joint filers, $16,100 for singles, and $24,150 for households, while the top tax rate stays at 37%.
Updates include a $15 million estate tax exclusion, $17,670 adoption credit, and $500,000 employer childcare tax credit. Earned income tax credit increases to $8,231, the foreign income exclusion to $132,900, and other personal exemptions remain unchanged under the OBBBA.
Cool Accounting Facts!
Can “Zombie Accounting” keep dying companies on life support? 🧟‍♂️
Some companies just won’t vanish easily — welcome to Zombie Accounting.
These debt-laden firms earn just enough to cover interest but never their principal, staying “alive” thanks to generous lenders and clever accounting.
Zombies now make up 6–7% of global firms, quietly draining capital and losing to competition. As credit tightens, many of the undead face bankrupcy.
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Numbers Don’t Lie
Baker Tilly Welcomes Former AICPA CEO Barry Melancon as New Chair
Barry Melancon, former CEO of AICPA and CIMA, has been appointed chair of Baker Tilly International. Renowned for leading the AICPA-CIMA merger and his global contributions to accounting, Melancon was also recently inducted into the Accounting Hall of Fame.
He described this as a crucial time for the profession, aligning with Baker Tilly’s focus on innovation and global collaboration. CEO Francesca Lagerberg praised his leadership and strategic expertise, crediting Kreischer for laying strong foundations for the network’s growth.
Twitter Showdown
Accountant 1: “I told my therapist I’m being audited.”
Accountant 2: “And what did she say?”
Accountant 1: “She asked if it’s emotional or financial.”