A belated Happy Holidays and an early Happy New Year to all of you! This is the final Friday Footnotes of 2025.
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday.Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. If you have something to say about any stories linked here you are welcome to email the editor, text us at 202-505-8885, or hit us up on Twitter @going_concern. See ya.
Technology
Accounting firm took over a year to inform users of data breach [Cybernews]
Sax, a US-based accounting firm, suffered a data breach that exposed the personal information of nearly 250,000 individuals. However, the affected only learned about their fate 18 months later. The accounting firm suffered a data breach in late July 2024, noticing unauthorized activity in its systems a week later, according to the company’s data breach notice.
People
Nelson goes from secretary to business owner [The Clanton Advisor]
Tiffany Nelson, a Chilton County native and long-time employee of Hull & Russell, P.C., recently purchased the accounting agency and transitioned it to Nelson Accounting. The business milestone was celebrated with a ribbon-cutting ceremony hosted by the Chilton County Chamber of Commerce on Dec. 17. Nelson started working for Hull & Russell as a secretary directly after graduating from Chilton County High School at the age of 18. Janice Hull and Crystal Russell, the owners of Hull & Russell, became mentors and friends of Nelson over the years.
International
South Korea CPA apprenticeship placement shortage delays licencing-report [The Accountant Online]
Hundreds of South Koreans who passed this year’s Certified Public Accountant exam are unable to start their careers because there are not enough apprenticeship placements available for licence registration, reported Korea Herald. Data from the Korean Institute of Certified Public Accountants (KICPA) shows that out of 1,200 candidates who passed the CPA exam this year, 443 had not secured an apprenticeship by the end of October.
Former telecoms company accountant arrested for GY$153 million fraud [Demerara Waves]
A former accounting executive of a telecommunications company has been arrested in connection with a GY$153.9 million ($736k USD) fraud allegedly committed on that entity, the Guyana Police Force (GPF) said on Wednesday. Mr Baird says on his LinkedIn profile that he worked as Accounts Payable, Treasury and Tax Manager at GTT, now One Communications.
The Profession
Finding Solid Ground in an Era of Change [CPA Journal]
New York State Society of CPAs CEO Calvin Harris writes:
The students I meet with are globally aware, technologically fluent, and deeply motivated by purpose. They want careers that allow them to solve meaningful problems, not just check compliance boxes. To them, AI is not an innovation—it is a baseline tool. If we want them to see themselves in this profession, we must show them that accounting is not backward-looking and hidebound. It is about strategy, leadership, and leaning into today’s tools. At the same time, we must make clear that our historic values—integrity, independence, and stewardship—remain non-negotiable. Innovation and history are what can help keep our profession relevant and thriving.
Tax
Social Security, IRS will stay open while other federal workers enjoy an extended holiday [Maryland Matters]
SSA is looking for volunteers to work on Dec. 24 and 26; a former agency executive says it’s unusual for the agency to stay open these days
New USPS Rule & Your 2025 Mailed Charitable Donations [Doeren Mayhew]
Donors planning to mail charitable contributions before the end of 2025 will want to take note of a new U.S. Postal Service (USPS) rule that may affect your postmark date and this year’s tax deductions. Beginning Dec. 24, 2025, USPS will apply postmarks at regional processing centers, at which it could take a mailed donation several days to arrive. That means if you mail your donation in late December, it may not be postmarked until January 2026. Under IRS rules, your donation must be postmarked by Dec. 31, 2025, to qualify for a 2025 tax deduction.
IRS is Considering Updates to the Voluntary Disclosure Practice [JD Supra]
A request for public comment reveals the IRS is considering updates to the Voluntary Disclosure practice. The agency states its “commitment to improve its processes, and to further incentivize non-compliant taxpayers to come into compliance.”
Former IRS worker says months after retiring, she’s still waiting for money she’s owed [WCPO Cincinnati]
For 33 years, Donna Talbott worked for the Internal Revenue Service (IRS), spending the majority of her years working remotely. “I absolutely loved my job,” Talbott said. “I helped taxpayers, I always said I worked for the good side.” However, Talbott said the past year has been hard for federal workers. That includes a lot of questions over job security, as some federal jobs face staff reductions amid restructuring.