-
New jobless claims surged as Hurricane Helene tore through southwest
The number of Americans who applied for unemployment benefits surged by 33,000 to 258,000 in the week that ended October 5th, according to the Labor Department – the highest level of initial claims since early August 2023. Economists polled by the Wall Street Journal had estimated new claims would rise by just 5,000 to 230,000….
-
Lawmakers urge IRS to drop ‘flawed’ ID.me verification tool
U.S. Sens. Elizabeth Warren (D-MA), Ron Wyden (D-OR), and Rep. Katie Porter (D-CA), have urged the Department of the Treasury and the IRS to enhance the Direct File tax filing program by eliminating the use of ID.me for identity verification. They argue that “taxpayers should not be forced to jump through extra, onerous hoops that…
-
Crypto.com sues SEC after receiving legal threat from US regulator
Crypto.com has filed a lawsuit against the SEC, accusing the agency of overreach in its efforts to regulate the cryptocurrency industry. The crypto trading platform said its move follows the receipt of a Wells notice – a formal declaration that an enforcement action is to be recommended – from the markets regulator on the grounds…
-
BDO survey finds clients expect auditors to use AI
A new poll of 200 finance leaders at middle-market companies by BDO USA has found that clients increasingly expect their audit firms to leverage artificial intelligence (AI) to aid the audit process. Sixty-three percent of senior finance leaders say trust is somewhat or significantly enhanced for them and their key stakeholders when auditors use advanced…
-
TIGTA says IRS is missing out on sports betting cash
The surge in sports betting has generated substantial revenue for gaming operators, yet the IRS is reportedly overlooking significant tax income, according to a recent TIGTA review. The analysis of approximately 43m tax forms from 2018 to 2020 revealed around 150,000 individuals who won over $15,000 failed to file tax returns on those earnings. The…
-
Organizations urged to improve implementation of cyber resilience measures
A PwC poll of 4,042 business and technology executives from 77 countries has found that just 2% of organizations have fully implemented cyber resilience actions across all areas surveyed. The 2025 Global Digital Trust Insights survey found that critical areas lacking implementation include the establishment of a resilience team; the development of a cyber recovery…
