In the blogs: Help from Uncle Sam
The audit letter; race-conscious policies; long-short strategy; and other highlights from our favorite tax bloggers.

CFOs spending heavily on AI
Corporate finance leaders are feeling bullish about their business's financial prospects, but many are worried are going over budget on artificial intelligence.

New KPMG group incubates AI-native startups within the firm
KPMG launched the new Client Technology and Innovation group, which will develop and launch AI-native businesses that operate like independent startups with their own founders, funding and staff.

Sorren adds two Mid-Atlantic firms
The Top 50 Firm acquired Alta CPA Group in Annapolis, Maryland, and Zinman & Company in Southampton, Pennsylvania, continuing its wave of dealmaking.

The token has been transferred, but has the asset left the balance sheet?
FASB has not yet definitively determined which transactions will qualify as crypto asset lending transactions.

Tax-slashing strategy popularized by largest hedge fund faces IRS crackdown
A strategy popularized by AQR to help wealthy people slash their taxes on ordinary income is facing a sign that authorities are preparing to clamp down.

IRS threatens crackdown on array of Wall Street tax dodges
The Treasury Department took a big step toward curbing a Wall Street boom in investment strategies that cut tax bills, with a notice signaling potential action.

Woodard: Are you measuring the metric that matters?
Speaking at Accounting Today's Firm Growth Forum East last week, Joe Woodard called out a single data point as a key guidepost for firm success.

IRS's AI risk management needs to be improved
The Internal Revenue Service is using artificial intelligence for hundreds of uses, and in some cases has not yet assessed the risks, according to a new report.

BGM enters Connecticut market
Bloomington, Minnesota-based BGM acquired R. L. DePanfilis & Co., a CPA and consulting firm in Norwalk, Connecticut.