In the News - September 29, 2025

We've got big news this week - almost as big as the giant pumpkin in my surprise pumpkin patch (which I've dubbed The Great Pumpkin in tribute to Charles Schultz's famous "Charlie Brown" book. Read on to get the applesauce on a proposed tax on outsourced services, a bullish 2026 salary outlook for accounting professionals, new AI safety controls that could affect how firms use chat tools, and more.

What's Happening at Woodard

Free Webinar with CPE: Future-Ready Engagement Letters for Accounting Professionals

As firms prepare for 2026, engagement letters must evolve. New IRS and FTC rules require stronger cybersecurity language, AICPA guidance demands clarity around AI use, and the expanding scope of CAS means firms need to define what’s included — and what isn’t. Learn what you need to add to your contracts in this free webinar presented by Heather Satterley. Register now

Listen to The Latest Woodard Report Podcast Episode

Check out the fresh, new format of the Woodard Report Podcast! In episode 140,Joe Woodard and Heather Satterley discuss how proposed tariffs and accelerating AI adoption intersect with pricing, competitiveness, and client value, and what firm leaders should do to prepare, plus share quotes from their favorite TV and movies and try to stump each other in their two truths and a lie segment! Read more… 

New 25% Tax on Outsourcing: What It Might Mean for Accountants (The Woodard Report)

A proposed 25% tax on outsourced services could reshape pricing, vendor relationships, and staffing for firms that rely on offshore support. This explainer outlines who might be covered, gray areas to watch, and planning questions leaders should tackle now. Read more… 

Mergers and Acquisitions

Grant Thornton Acquires Firms in France, Spain and Belgium (Accounting Today)

Grant Thornton Advisors LLC is adding member firms in France (2,800 professionals; €287.7M revenue), Spain (900; €100.3M), and Belgium (275; €40M+) to its PE-backed platform—following earlier deals in Ireland, Switzerland/Liechtenstein, and the Channel Islands. The transactions are expected to close in the weeks ahead. Read more…

IRS & Regulatory Updates

IRS to Phase Out Paper Tax Refund Checks, Starting with Individual Taxpayers (IRS.gov)

It's happening! The IRS will begin phasing out paper refund checks for individuals on Sept. 30, 2025. They will be fully transitioning to electronic payments to expedite refunds, minimize fraud/loss, and reduce costs. The Service will publish detailed guidance for 2025 returns before the 2026 filing season; limited exceptions and alternatives (e.g., prepaid cards, digital wallets) will be available. Read more… 

IRS Contingency Plan for Government Shutdown Unclear (Accounting Today)

Ahead of a potential shutdown that would start on Wednesday, Accounting Today reported the IRS’s web page for its most recent contingency plan (from December) was returning an error as of Sept. 26—leaving ambiguity around which services would continue during a lapse. Read more…

Technology and Innovation

OpenAI Rolls Out Safety Routing System and Parental Controls for ChatGPT (TechCrunch)

OpenAI is testing a safety routing system that detects emotionally sensitive conversations and dynamically routes them to models designed for high-stakes safety, alongside new parental controls. The company expects to iterate on these features over a ~120-day window. Read more…

Other Interesting Things We Found

2026 Salary Guide: Accounting & Tax Roles Among the Highest Gains (CPA Practice Advisor)

A new salary guide projects some of the largest pay increases across industries for accounting and tax roles in 2026, fueled by persistent skills shortages and demand for analytics/advisory capabilities—pressure that firms should reflect in hiring and retention plans. Read more… 

Check back next week for our next take on what's in the news for accounting professionals!

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