07/23/2025

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! 

💸 Profit & Loss Report

The IRS workforce dropped significantly 25% from 103,000 in January to 77,428 by May because of downsizing through programs like DRP, VERA, and VSIP. Over 25,000 employees left via offers, with 3,093 separations and 294 layoffs. Another 17,847 were approved for buyouts or early retirement, 48 senior IT employees placed on leave, 26 accepted exit offers.

Losses hit tax examiners (27%), revenue agents (26%), and contact reps (23%), with the SB/SE unit losing 35% of staff. Most affected include California, Georgia, and New York. The highest percentage losses are from Delaware and Idaho. Of 7,315 probationary employees fired, 3,023 returned, 3,531 took DRP, and 752 resigned. TIGTA will issue a separate report on terminations.

Source: CPA Practice Advisor

💎 Rare Accounting Oddities

Do you think accounting is boring? In 2011, one meticulous accountant spotted a colossal tax loophole, instantly filed a whistleblower claim, helping the IRS recover a staggering $20 million. 

Their reward for discovering said loophole? A jaw-dropping $4.5 million payout—yes, after taxes. No renowned fame, no multiple selfies, only spreadsheet-fueled justice for accountants.

A testament on how patience, precision, and integrity seriously pays off. So,  next time you're looking for details, remember: buried treasure isn't always gold, it might just be in cell E17.

If you’re a professional CPA mastering how to quote GAAP frameworks while sleeping, however gets frozen-cold nervous when healthcare terms suddenly get mentioned - you're not alone.

Wisdify’s Healthcare Accounting Series is designed by accountants, for accountants — especially upskilling in the booming healthcare sector. If you’re looking for premium clients or going to healthcare finance roles, Wisdify makes you stand out from the crowd of applicants. 

🚨 Course 1: Audit Administration Mastery: From Planning to Final Report

This is your practical audit bootcamp: from risk assessment, documentation processes, to nailing communications like a pro. Whether you’re dealing with traditional financial audits or ramping up for SOC or ISO engagement, this course prepares you like a seasoned auditor.

Learn how to:

• Master the financial audit lifecycle from start to finish

• Tailor audit strategies in fitting various client profiles

• Evaluate audit internal controls without overthinking

• Document cross-references ready for presentation 

• Communicate findings without sounding ignorant

🧪 Course 2: Healthcare Finance Data Analysis in Excel

From building dashboards to ROI analysis and scenario testing, you’ll turn unfiltered, raw data into discernment executives actually understand. In this hands-on program, you’ll be rolling up your sleeves, diving into real-world healthcare data, and learning how to make financials talk:

Learn how to:

• Navigate healthcare revenue and cost structures

• Build interactive Excel dashboards for health orgs

• Look for various trends, KPIs, cash flow patterns

• Model ROI analysis, decide on investment cases

• Test for scenario forecasting, sensitivity analysis

You need more than just great auditing skills. You need healthcare confidence, and necessary work experiences. That’s exactly what our professional course delivers (without requiring a JD).

Hone your fluency, boost confidence, auditing like the well-rounded pro you are.

Let’s get you healthcare-capable without losing your accounting swagger.

Source: Wisdify

📝 Journaling Insider

In Root, TC Memo 2025-51, Tax Court denied a $3.7 million NOL carryforward acquired by an Oregon couple whose recreation lodge project never became an active business. Flooding, infestations, and demolition halted operations before they actually started. Court rulings said that without actual business operations during the loss year, NOL claims are not possible.

Under TCJA, NOLs can only be forwarded and are limited to 80% of taxable income. Noncorporate taxpayers face additional loss limits: $313,000 single and $626,000 joint in 2025. These current rules, now permanent under the OBBBA, are requiring proof of actual business operations during their fiscal years. Business intent alone doesn’t qualify for NOL benefits.

Source: CPA Practice Advisor

💰 Making Cents of Accounting

#NameBasedAccounting💵🛥️