In the News: September 18, 2026

It's been a very busy week with lots of updates. This week’s addition of In the News includes IRS updates, accounting technology news, workplace trends, and more. We’re also sharing new Woodard Report articles and podcast episodes on burnout, the future of accounting, the Accrual-Puzzle acquisition, taxes, and more.

What’s happening at Woodard

From Burnout to Belonging: Redefining the Future of Accounting (The Woodard Report Podcast)

In episode 188 of The Woodard Report Podcast, Heather Day was joined by Randy Crabtree, President of The Brainstorm Group and founder and host of The Unique CPA podcast and the Bridging the Gap conference, for a conversation about burnout, belonging, and leadership. Read more...

The Heart, Spirit & Soul of Accounting (The Woodard Report Podcast)

In episode 187 of The Woodard Report Podcast, Joe Woodard and Heather Day discussed the Top 50 Women in Accounting, private equity investment in accounting firms, mindset, stress regulation, and the continued evolution of accounting software. Read more...

Putting the Puzzle Pieces Together After the Accrual Acquisition (The Woodard Report)

This article takes a closer look at Accrual’s agreement to acquire Puzzle’s accounting-practice technology and what the combination may mean for CAS and current Puzzle users. Read more...

The Influencer Tax Rules Are Just the Tax Rules (The Woodard Report)

This article looks at tax considerations for influencers and other content creators, including income reporting and deductible business expenses. The key reminder is that the same basic tax rules that apply to other businesses generally apply to creators as well. Read more...

Penalty Relief Just Went Automatic (The Woodard Report)

The IRS is changing how certain penalty relief is handled for eligible taxpayers with a history of filing and paying on time. This article explains the move toward automatic relief and what tax professionals should know as the new process rolls out. Read more...

IRS updates

IRS Announces Extension of Tax Relief for Farmers and Ranchers Affected by Drought in 49 States, Other Regions (IRS)

The IRS announced additional time for eligible farmers and ranchers to replace livestock sold because of drought conditions and defer tax on qualifying gains. The relief applies to designated areas across 49 states and other regions affected by severe drought. Read more...

IRS Accepting Applicants for 2027 Compliance Assurance Process (IRS)

The IRS is accepting applications for the 2027 Compliance Assurance Process through October 30. The program allows eligible large corporate taxpayers to work with the IRS to identify and resolve tax issues before filing a return. Read more...

IRS Issues Notice on 45Z Clean Fuel Production Tax Credit to Support Domestic Biofuel Production and American Agriculture (IRS)

The IRS issued Notice 2026-53 with the 2026 emissions rate table and additional guidance for the Section 45Z Clean Fuel Production Tax Credit. Read more...

Tax and regulatory updates

Tax Pros Push for Passage of Taxpayer Assistance and Service Act (Accounting Today)

The National Association of Tax Professionals is urging the Senate to consider the Taxpayer Assistance and Service Act, a bipartisan tax administration bill that advanced out of the Senate Finance Committee in July. The legislation includes more than 60 provisions related to taxpayer service, IRS operations, and standards for paid tax return preparers. Read more...

Accounting profession updates

Four State CPA Societies Form Five Storm Systems to Help Shape the Future of the CPA Profession (Georgia Society of CPAs)

Four state CPA societies have formed Five Storm Systems, a collaborative technology company dedicated to advancing innovation in professional learning. Read more...

Pentagon to Start Using U.S. GAAP Instead of Cost Accounting (Accounting Today)

The Defense Department plans is shifting from its traditional use of cost accounting to the U.S. GAAP to make it easier to do business with companies. The department plans to limit audits to areas with identified risk, avoid duplicating audit work, and rely first on independent audits that companies already have in place. Government-specific oversight would be reserved for higher-risk work when no suitable alternative exists. Read more...

Technology and AI updates

Meridian Launches Categorization Agent to Power Accurate Accrual-Basis Books in the Automated Close (GlobeNewswire)

Meridian by Pilot, has announced its Categorization Agent, a comprehensive categorization system to support its autonomous month-end close platform. It runs inside Meridian's close system and categorizes transactions within the full context of each client, producing review-ready books for accounting firms. Read more...

Intuit Names Dixie McCurley as Intuit’s First Managing Partner in Residence (Intuit Firm of the Future)

Intuit named Dixie McCurley as its first managing partner in residence. The role is designed to bring direct accounting-practice experience into Intuit’s product strategy and help connect product development with the needs of accounting professionals. Read more...

Xero Wherever You Work: Real-Time Financial Intelligence in Claude for Small Business and ChatGPT (Xero)

Xero announced new integrations that bring financial information into Claude and ChatGPT. The connections are designed to let users access and work with Xero data within AI tools while maintaining Xero’s permissions and controls. Read more...

Technology Trends Outlook 2026 (FinTech News)

A new report based on McKinsey research looks at technology trends shaping business investment and strategy, including AI, cloud and edge computing, robotics, and other emerging technologies. The report highlights where adoption and investment are accelerating and where businesses are still working through implementation challenges. Read more...

New Warnings About the Risks of AI to Humanity Revive a Long-Running Debate (Associated Press)

New warnings from leaders and researchers in the AI industry have renewed debate over how quickly advanced AI should develop and whether current safeguards are keeping pace. The article looks at recent incidents involving AI systems acting beyond their intended tasks, while noting that experts still disagree on how likely or how soon more serious risks could emerge. Read more...

Workplace and economic trends

44% of Skilled Workers Feel Overwhelmed by the Pressure to Learn and Use AI at Work (CPA Practice Advisor)

A new survey found that 44% of skilled workers feel overwhelmed by expectations to learn and use AI on the job. The findings suggest that AI adoption is creating new training needs as organizations work to balance productivity goals with employee confidence and readiness. Read more...

Federal Reserve Raises Interest Rates for First Time Since 2023 (CPA Practice Advisor)

The Federal Reserve raised its benchmark interest rate by a quarter percentage point to a range of 3.75% to 4%, its first increase since July 2023. Federal Reserve officials cited persistent inflation pressures, while new projections indicated support among many policymakers for another increase later in 2026. Read more...

This article was written with the assistance of AI and edited by a human.