09/05/2025

Well, hi there! Sit back, enjoy, and relax as you’re currently on the Daily Accrual.

Every day, I sift through the accounting noise so you don’t have to. I share to you the most relevant, juicy accounting insights that really matter – nothing phony, just some good, accounting testimony! 

📊 Accountants Gone WILD

The IRS shared over 40,000 immigrants addresses with ICE. Information from 1040, W2, and 1099 forms are now funneled into ICE’s database, revealed through a lawsuit by the Community Economic Development Center (CEDC) on behalf of ALC and Greater Boston Legal Services.

Trump’s mass deportation program connects with enforcing over 250 IRS enforcement agents. Advocates warn undermining taxpayer confidentiality, leaving hundreds of immigrant families fearful, and might potentially destroy public trust, harming not only immigrants but all taxpayers.

Source: CPA Practice Advisor

🧮 COOL AF! (Cool Accounting Facts!)

During World War II, Allied accountants became financial detectives, actively searching for hidden transactions to gradually expose Nazi funding - named as Project Safehaven. 

Looted gold, valuable art pieces remain stashed in “neutral” countries, dismantling the Nazis’ financial escape hatch while avoiding post-war resurgence from happening. 

Wartime number-crunchers proved how accountants changed the balance of history. So next time someone calls accounting boring, remind them: your ledgers helped defeat war battles.

CPAs don’t just wrangle numbers: accountants protect industries, outsmart fraudsters, while teaming up with AI. Wisdify’s courses are designed to sharpen your edge in healthcare fraud schemes and cutting-edge toolkits. 

Think of it as leveling up your CPA superpowers: one course gives you X-ray vision for spotting fraud, the other equips you with AI-powered sidekicks.

🏥 Healthcare Fraud Prevention & Detection

Healthcare fraud’s your everyday reality. This course gives you case studies, and skills to spot red flags before they cost millions. You’ll learn how to:

• Recognize schemes like phantom billing, upcoding services.

• Navigate regulations that matter: False Claims Act, HIPAA

• Establish anomaly detection, benchmarking, Benford’s Law.

🤖 AI for Accountants

AI makes your spreadsheets a whole lot friendlier. Learn how to make automation do the heavy lifting using CPA-approved workflow processes:

• Automating journal entries (say bye-bye to repetitive GL coding).

• Flag anomalies quicker than auditors with extra shots of coffee.

• Predict revenue trends without hoping to Excel’s “what-if” gods.

Whether you’re catching fraudulent activities, or finally making AI your wingman: get sharper with clients, and be the CPA everyone wants to have.

Become the most forward-looking CPA in the room with Wisdify. 

Source: Wisdify

🔢Numbers Don’t Lie

Effective September 30, 2025, the Department of Labor will stop issuing paper checks, in accordance with the Federal Register. The payment system modernization is now requiring all future DOL transactions to be made electronically, gradually deleting paper trail transactions.

This mainly impacts penalties under the Delinquent Filer Voluntary Compliance Program for late or unfiled Form 5500s, which must now be paid exclusively with DFVC’s Penalty Calculator and online system. Sponsors are required to update compliance practices to avoid disruptions.

Source: Thomson Reuters 

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