06/04/2025

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! 

📝 Journaling Insider

IRS issued Notice 2025-27 to provide an optional simplified method for calculating alternative minimum tax (CAMT) for tax year 2025, lowering the adjusted financial statement income (AFSI) to $800 million for general corporations and $80 million for foreign-parented multinational groups. This interim method reduces complexity by ignoring specific credit and income adjustments, waiving penalties for tax underpayment stated on Code Sec. 6655.

CAMT ensures corporations with high profits follow a minimum tax based on 15% of AFSI minus foreign tax credits, applied to corporations exceeding thresholds, excluding S corporations, REITs, and regulated investment companies. IRS plans formalizing the simplified approach with new regulations and updated tax forms, refining compliance for those who are affected. 

Source: Thomson Reuters

💰 Making Cents of Accounting

#ExcelCriminals💰🥷

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Wisdify makes healthcare accounting your courtroom dominating zone. If you’ve ever considered working in hospitals, private practices, or jumping into a healthcare CFO role — this is your launchpad.

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Source: Wisdify

💸 Profit & Loss Report

The Trump administration paused the resumption of improving Social Security payments from borrowers in default student loans. The Treasury Offset Program, allowing up to 15% of Social Security incentives to be withheld for unpaid federal debts, was set to restart with 195,000 borrowers initially targeted and over 5 million notices planned by summer’s end.

5.3 million borrowers are in default, with 4 million behind on payments, including 452,000 seniors aged 62 and older. The Education Department confirmed it will reach borrowers on affordable repayment options, encouraging debtors to reach out to the Default Resolution Group for help with various income-driven plans or further loan rehabilitation.

Source: CPA Practice Advisory

💎 Rare Accounting Oddities

From the collapse of Enron to WorldCom’s accounting, these scandals broke public trust which led to sweeping reforms like the Sarbanes-Oxley Act. 

Now, ethical lapses still make headlines: KPMG’s Netherlands branch was slapped a $25 million fine after hundreds of staff—yep, even partners—were caught violating internal ethic policies. 

Regardless if you’re auditing documents for a Fortune 500 company or balancing statements for a local nonprofit, ethics isn’t just optional—it’s your most valuable asset.