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Tax
Crypto users forced to share account details with tax officials [BBC]
People buying cryptocurrency in the UK now need to share their account details or face penalties, in changes that came into effect on 1 January. The move by the UK’s tax body is designed to ensure they pay all relevant tax on buying and selling crypto, including capital gains tax. HMRC will begin automatically collecting information on all users of cryptocurrency exchanges – which are effectively the industry’s banks – in a bid to start collecting tens of millions in unpaid tax.
Advocacy for state disaster tax relief [The Tax Adviser]
The AICPA State and Local Tax Technical Resource Panel (SALT TRP) has recently developed, and the AICPA Tax Executive Committee approved, a position paper that may be helpful for state CPA societies interested in advocating with their state tax authorities to allow at least one month after a federal extended disaster tax relief due date before requiring state tax returns to be filed and payments to be made.
Billionaire tax proposal sparks soul-searching for Californians [Los Angeles Times]
While the idea of a one-time tax on more than 200 people has a long way to go before getting onto the ballot and would need to be passed by voters in November, the tempest around it captures the zeitgeist of angst and anger at the core of California. Silicon Valley is minting new millionaires while millions of the state’s residents face the loss of healthcare coverage and struggle with inflation.
Uber rewrites contracts with drivers to avoid paying UK’s new ‘taxi tax’ [The Guardian]
Uber has swerved paying millions of pounds to the UK exchequer under Rachel Reeves’s new “taxi tax” after the ride-hailing app rewrote contracts with its drivers. In November, Reeves told the Commons the changes would end up “protecting around £700m of tax revenue each year”.
Audit
‘Independent audit’ of towering warehouses slammed as ‘tick-box exercise’ [Manchester Evening News]
Residents living in the shadow of four giant warehouses have slammed a council-approved probe into the controversial development as a “tick-box exercise”. Neighbours say the 350,000sq ft Astley Business Park site has caused them sleepless nights, months of disruption and even flooded gardens. Now, attention has turned to a promised “independent audit” of the authority’s planning decisions – intended to assess whether proper procedures were followed. Residents say they’ve discovered only one person has been appointed to carry out the audit – and he has just two weeks to do it.
Maryland audit: $32.5 million procurement system failed, raising oversight concerns [FOX45 Baltimore]
A new state audit is raising serious questions about how Maryland spends and oversees taxpayer dollars, finding tens of millions of dollars were wasted on a procurement system that auditors say didn’t work. The contract for the system was ultimately terminated, but auditors said the problems didn’t end there. Because of severe accounting and record-keeping issues left behind, the state hired an outside accounting firm for an additional $1.6 million to determine the actual balances on outstanding contracts.
Lt. Gov. Dan Patrick calls audit of Texas Southern University financials ‘deeply disturbing’ [Houston Public Media]
Texas Southern University has “significant” financial weaknesses, the result of whole departments bypassing established purchase guardrails and the university failing to enforce established contract and accounting procedures, a state audit released this week reveals. Lt. Gov. Dan Patrick on Wednesday called the audit “beyond disturbing.” He added that his office, together with Gov. Greg Abbott and House Speaker Dustin Burrows, has ended any spending by TSU on contracts other than ongoing university expenses needed to keep the school open.
Burnout
How a CPA beat burnout after strokes, years of depression [Journal of Accountancy]
Do you feel tired most of the time and question why you became an accountant? Do you not care as much as you used to? Do you keep telling yourself: “I just have to power through for a little longer until I catch up.”? Are your neck and shoulders constantly tight? Are you eating much more or much less? Any of this sound familiar? If so, you may be suffering from chronic stress.
Opinion
Is accounting still a profession? [Financial Times]
Accounting is “absolutely a profession, full stop”. That was the view a US accountancy leader felt the need to declaim in indignation recently. Mark Koziel, president of the American Institute of Certified Professional Accountants, told an industry conference this month that accounting was built on integrity and rigorous standards, requiring a commitment to continuing education — “all the hallmarks of a true profession”.
Consulting
After UW-Madison demotes DEI leader, Deloitte recommends changes [The Cap Times]
UW-Madison paid Deloitte $395,000 to evaluate its financial and budgetary controls between March and July 2025, according to Mark Pitsch, a spokesperson for the broader UW system, which signed the contract with the firm.
Law & Order
Deloitte Dodges H-1B Worker’s Lawsuit Over Withdrawn Job Offer [Bloomberg Law]
A federal judge dismissed an immigrant worker’s lawsuit against Deloitte LLP over the withdrawal of a job offer, finding the law governing H-1B visas doesn’t include a private right of action. Anudeep Meka, a Texas resident and citizen of India, failed to establish viable claims related to immigration law, the Fair Credit Reporting Act, contract-related allegations, and other statutes, Judge Alvin K. Hellerstein of the US District Court for the Southern District of New York ruled Tuesday.
People
From CPA to “Mr. Swiftie,” and Everything in Between: The Unconventional Reinvention of MoCo Native Ray Castro [The MoCo Show]
Ray Castro’s life story is one that feels especially relatable in Montgomery County. He was a kid who grew up here, did everything “right” on paper, built a stable career, and then eventually realized stability alone wasn’t enough. Castro was born and raised in Montgomery County and graduated from Boston College in 1998. Like many high achievers, he followed a conventional path into the tax and accounting world, spending nearly two decades as a CPA. On the outside, it was a successful career with a steady paycheck. On the inside, it left him feeling unfulfilled and disconnected from any real sense of purpose.
Matt Goldin Named PCAOB Acting General Counsel [PCAOB]
Before being named Acting General Counsel, Mr. Goldin served as a Deputy General Counsel in OGC, advising the Board on PCAOB programs and operations and assisting with OGC’s management. Prior to joining the PCAOB in January 2016, Mr. Goldin worked in the general counsel’s office at a large asset manager, served in the Division of Investment Management at the U.S. Securities and Exchange Commission, and practiced corporate and securities law. Mr. Goldin holds a J.D. from Yale Law School, an M.Phil. in international relations from the University of Cambridge, and a B.A. in Near Eastern Languages & Civilizations from Yale College.
