Day: August 8, 2025

President Trump has removed Billy Long as commissioner of the Internal Revenue Service in the latest sign of turmoil at the embattled agency.

Treasury Secretary Bessent will serve as acting commissioner, as President Trump plans to nominate Long for an ambassadorship.

The One Big Beautiful Bill Act is sparking questions among employees and payroll departments about how to handle tax breaks such as overtime pay.

A third of accountants conceded in a survey they would not be able to recognize an AI-generated fake receipt if it came across their desk.

Plus, Stampli launches a solution for AP automation; PwC buys a fintech consultancy; and other accounting tech updates.