Pettit & Company, LLC

07/28/2026

The midyear change follows an increase in gasoline prices, according to the IRS. It is the first such midyear adjustment since 2022.

07/27/2026

An arbitrator ordered the IRS to allow its unionized employees to work remotely after President Trump ordered federal agencies to require in-person work.

06/30/2026

Hiring an audit manager.

What We're Looking For:
✔ CPA license required
✔ 5+ years of public accounting audit experience
✔ Strong leadership and communication skills
✔ Ability to manage multiple engagements and deadlines
✔ Commitment to delivering exceptional client service

What We Offer:
• Competitive compensation
• Flexible work environment
• Opportunities for professional growth and advancement
• Diverse and rewarding client engagements
• Supportive, team-oriented culture
• Increased flexibility outside of busy season

Send resumes to [email protected]

06/09/2026

We have been working remotely every Friday for years. Remote work isn’t for everyone though.

The IRS is continuing to challenge and audit claims for the Employee Retention Credit, extending the yearslong backlogs on processing the often dubious claims.

06/09/2026

No because why does FAR feel like “accounting: the extended edition” 😭📚

05/01/2026

Federal debt now tops 100% of gross domestic product, a potent symbol of the gathering fiscal stresses on the U.S. that have been building for decades. It's on the way toward breaking the record set in the wake of World War II.

As of March 31, the country’s publicly held debt was $31.265 trillion, while GDP over the preceding year was $31.216 trillion, according to data released Thursday. That puts the ratio at 100.2%, compared with 99.5% when the last fiscal year ended Sept. 30.

That figure will likely climb for the foreseeable future because the federal government is running historically large annual deficits of nearly 6% of GDP, which add to the debt.

The government is spending $1.33 for every dollar it collects in revenue, and the budget deficit this year is projected at $1.9 trillion. That is little changed from 2025 as Republicans’ tax cuts kick in before their spending cuts take effect.

The final tally will depend on Iran war spending, tariff refunds and the strength of the economy.

🔗 Read more: https://on.wsj.com/4ulCtLE

04/30/2026

A Treasury release said the changes are intended to “strengthen tax administration” and provide clearer reporting on the activities of tax-exempt organizations. No timeline was announced.

04/24/2026