The Tuesday Accrual: November 11, 2025

Profit & Loss Report

IRS Undergo Staffing Problems Despite Boosting Workers for OBBB

The IRS updated its shutdown, adding 112 employees, including 45 Chief Counsel lawyers working on implementing the One Big Beautiful Bill Act for 2025. Treasury Assistant Secretary Ken Kies confirmed staffers are drafting essential guidance despite limited resources.

Additions include 31 CFO employees handling financial reporting and 15 RAAS employees supporting exempt activities. Staffing remains a concern, with headcount dropping from 103,000 to 77,000, currently raising questions on the filing season and OBBB implementation.

Source: Thomson Reuters

Accounting Oddities

Benjamin Franklin has been sniffing out fraud in colonial times. While settling tangled estates in the 1770s, he checked ledgers to uncover missing funds.

He even flagged sloppy bookkeeping in their postal system, proving accountability wasn’t just his philosophy, but his attitude by nature.

Franklin wasn’t just an inventor — he was your trusty ledger detective with lightning-rod precision. Even the Founding Fathers knew how to follow money. 

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Journaling Insider

U.S. Economy Plunges as Inflation Rates and Unemployment Mounts

U.S. consumer sentiment fell to 50.3, near the record low as the government shutdown, and inflation fueled pessimism. The recent condition index hit a record 52.3, and over 70% of consumers expect rising unemployment, with 43% fearing potential job loss.

High prices spiked despite easing long-term inflation at 3.6%, while personal finances and buying confidence dropped to multi-year lows. With only 42,000 jobs added in October, economists warn things remain decreased even as spending goes steady.

Source: CPA Practice Advisor

Making Cents of Accounting

“Non-negotiables”

Accountant 1: “Why did the accountant break up with the calculator?”

Accountant 2: “I don’t know… why?”

Accountant 1:“She felt he couldn’t deal with her emotional liabilities.”

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