The Tuesday Accrual: December 23, 2025

Accountants Gone Wild

IRS Offers Alternative Reporting Method for Carbon Capture Credits

The Treasury and IRS issued Notice 2026-1, creating a 2025 safe harbor for taxpayers claiming carbon capture credit if the EPA’s electronic reporting tool isn’t available by June 10, 2026. Otherwise, standard EPA reporting rules apply.

Taxpayers can satisfy verification requirements by submitting annual reports to a qualified engineer or geologist for certification under penalties, with documentation before tax return  filing. Post-2025 reporting provisions follow.

Source: Thomson Reuters

Cool Accounting Facts!

What if “advisor” meant legal authority, not just financial insight?

Across Europe and Commonwealth nations, qualified accountants are legally authorized to act as statutory auditors and official tax representatives, even standing before fiscal courts. 

In many European jurisdictions, certified accountants or tax advisers don’t just add commentary: they can file tax returns, defend clients in hearings, and represent in legal proceedings.

It’s proof that accounting isn’t just about balance sheets — it’s a profession trusted with legal authority, public accountability, and the power to defend where the stakes are highest.

Earn 16 CPEs While Mastering Alteryx

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Format: 5–20 min videos, 6 quizzes, final assessment
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What You’ll Learn:

• Clean, and transform your datasets efficiently

• Optimize workflows for speed and expansion

• Identify customer regions and market insights

• Automate your repetitive duties with macros 

• Gain sharper insights with data investigation 

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Numbers Don’t Lie

IRS Permits Advance Statewide Election on Federal Scholarship Credits

Revenue Procedure 2026-6 lets states and D.C. elect early to join a new federal scholarship tax credit for 2027 under the One Big Beautiful Bill Act, giving SGOs more time to prepare. The advance election can be made before states submit their official SGO lists.

Starting January 1, 2027, taxpayers can claim a nonrefundable credit of up to $1,700 for donations to state-approved SGOs serving low- and middle-income K–12 students. States must file Form 15714 beginning January 1, 2026, with further guidance to follow.

Source: CPA Practice Advisor

Twitter Showdown

"Trust Issues: Ledger Edition"

Accountant 1: "I have trust issues."

Accountant 2: "With who? People?"

Accountant 1: "Debits and credits."

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