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President Donald Trump previously promised Americans tariff dividend checks, but if Democrats have their way, he could be issuing refunds instead.After a Supreme Court ruling on Friday struck down Trump’s tariffs levied under the International Emergency Economic Powers Act, Democratic lawmakers were quick to demand that the president repay Americans through tariff refunds.”Donald Trump should return that money immediately. He has an obligation,” California Gov. Gavin Newsom said on Friday. “$1,751 per family that were taxed by Donald Trump. He took hundreds of billions of dollars from working folks, from the ag community, from small businesses for this vanity play, this illegal…

As rapidly developing technologies automate audit, bookkeeping and tax tasks — fundamentally changing the foundation of the profession — accountants need to transition their firms from compliance shops to advisory shops in order to not become obsolete. The key? Pruning clients.Processing ContentIf accountants really want to become “trusted advisors” and “partners to their clients’ success” (both common phrases in discussions surrounding advisory), that means going against some of their instincts.”You’ve got to be very selective on the clients you take on, and you’ve got to eliminate clients that don’t value the work you can deliver,” said Geni Whitehouse, founder of…

The Supreme Court on Friday knocked down President Donald Trump’s controversial tariffs, ruling that the president overstepped his authority by relying on a law normally reserved for emergencies.The high court ruling, however, only curbed the president’s most flexible tool for reshaping global trade. Taxing imports is central to Trump’s economic policy, and the president indicated on Friday that the White House has plenty of other options for imposing taxes on imported goods — some of which they are already dusting off.”We have very powerful alternatives,” Trump told reporters at the White House on Friday as he bashed the Supreme Court’s…

Blue Owl BDC’s CEO Craig Packer speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Nov. 19, 2025.Brendan McDermid | ReutersThe latest tremor in the private credit world involved a deal that should’ve been reassuring to markets. Blue Owl, a direct lender specializing in loans to the software industry, said Wednesday it had sold $1.4 billion of its loans to institutional investors at 99.7% of par value. That means sophisticated players scrutinized the loans and the companies involved and felt comfortable paying nearly full price for the debt,…

The American Institute of CPAs is asking the Treasury Department and the Internal Revenue Service for further guidance on the rules for deducting domestic research and development expenses in light of the changes under the One Big Beautiful Bill Act.Processing ContentThe OBBBA largely eliminated a requirement for amortizing R&D expenses over five years under the Tax Cuts and Jobs Act instead of writing them off in the first year, at least for U.S. companies. Research and experimentation expenses can now be deducted immediately. The Treasury and the IRS issued some preliminary guidance on the changes last August. Revenue Procedure 2025-28…

As 2025 drew to a close, openings on Indeed, the world’s largest job site1, remained about 5% above pre-pandemic levels, according to the company. Yet that positive figure masked a labor market frozen in place, as employers delayed hiring to gauge the impact of tariffs, immigration policies, and other factors. While some sectors are thriving, others are pulling back.As a result, job seekers and employers alike are still scrambling for a secure footing. But within the shifts lie opportunities for both.”For employers who plan carefully, pay attention to local conditions, and invest in talent where demand remains strong, 2026 should…

The Securities and Exchange Commission is making extensive changes in the auditing and accounting fields as it continues to deregulate and shows greater openness to cryptocurrency investing in the Trump administration. Processing ContentOne of the most far-reaching moves could be requiring public companies to only report on their financial results twice a year instead of every quarter, as President Trump has urged since his first term. In Trump’s second term, SEC chairman Paul Atkins has begun working on the proposal. James Moloney, director of the SEC’s Division of Corporation Finance, described this possibility in a statement last week.”President Trump initially called…

Peacock’s next growth bet isn’t a blockbuster show or sports deal.NBCU’s flagship streaming service is plotting to sell add-on subscriptions to other specialty streamers on its platform, four people familiar with the plans told Business Insider.Peacock has approached streamers about selling subscriptions to offer viewers content that complements its reality and sports-heavy line-up, these people said. Peacock expects to start with one streamer this year and is likely to limit the offering to a small number of partners.Starz, which already has multiple distribution partnerships, is one that’s being considered, two insiders said. Starz declined to comment.Two people briefed on Peacock’s…

Three conservative justices of the US Supreme Court — Brett Kavanaugh, Clarence Thomas, and Samuel Alito — broke with the majority Friday, arguing that President Donald Trump had clear authority to impose his sweeping tariff policy.The three dissenting justices said the president’s tariffs were perfectly legal under the 1970-era law Trump used that says presidents can “regulate” importation in the case of emergencies.”The tariffs at issue here may or may not be wise policy,” Kavanaugh wrote. “But as a matter of text, history, and precedent, they are clearly lawful.”The three justices also noted that the majority 6-3 decision is silent…

The Supreme Court ruled Friday in a landmark 6-3 decision against President Trump’s sweeping imposition of tariffs under emergency authority, with Chief Justice John Roberts citing Congress’s authority to levy taxes and tariffs.Processing ContentThe case involves Trump’s use of the International Emergency Economic Powers Act of 1977 as a way to justify his authority to impose tariffs to curb the flow of illegal drugs from other countries. Roberts pointed out that the Constitution specifies, “The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises.” “The Framers recognized the unique importance of this taxing power—a power which ‘very…