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The Internal Revenue Service has released Rev. Proc. 2026-08, which updates procedures to obtain recognition of exemption from federal income tax on a group basis for 501(c) organizations that are affiliated with and under the general supervision or control of a central organization.Processing ContentIt also discusses the comments received in response to the proposed procedure and modifications made — and not made — in response to comments.ClarityThe Treasury and the IRS received 29 written comments. Among them:The proposed revenue procedure requires a central organization to have at least five subordinate organizations to obtain a group exemption letter and at least…

Enrollment for undergraduate accounting majors increased for the third year in a row last fall, according to newly released figures.Processing ContentData from the National Student Clearinghouse’s Final Fall Enrollment Trends 2025 showed overall accounting undergraduate enrollment grew by 7.3% year over year in the semester of fall 2025, compared to 1.2% for enrollment across all majors. That comes after an 11.3% rise in enrollment for accounting majors in the fall of 2024 and a 1.9% increase in the fall of 2023 at the undergraduate level.”Three straight years of growth is energizing for the profession,” said the AICPA CEO of public…

A proposed tax on California’s wealthiest residents is drawing opposition from a growing group of top state Democrats, including a U.S. representative for Silicon Valley and Katie Porter, the former congresswoman now running for governor.Processing ContentTo Porter, who’s known for progressive stances on consumer protections and health care, forcing California billionaires to pay a one-time 5% tax “could end up hurting our ability to fund other key priorities like education and food assistance and make it harder to sustainably fund California’s needs,” she said in a statement. Sam Liccardo, who represents some of the country’s wealthiest communities in Silicon Valley, said…

2026-01-20T14:32:12.016Z Share Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Donald Trump’s ongoing threats over Greenland are a big talking point at Davos. Davos attendees discussed geopolitical tensions and fears of a breaking point. For the business world, it could mean a global economy that’s a lot less … global. The weather is sunny and (relatively) warm in Davos,…

Dangling a free Cybertruck in front of an employee is one way to get results.Elon Musk made the unusual offer when xAI’s engineers were setting up new GPU racks, according to then-technical staff member Sulaiman Ghori.”Elon’s like, ‘OK, you can get a Cybertruck tonight if you can get a training run on these GPUs in 24 hours,'” Ghori said on “Relentless.”The engineer — whom Ghori only referred to by their first name, Tyler — won the bet. Now, Ghori said he sees Tyler’s Cybertruck outside his lunch window.It’s yet another example of Musk’s drive for efficiency in execution. Employees at…

This as-told-to essay is based on a conversation with Sid Pardeshi, 32, the co-founder and CTO of a generative AI software platform. He is from India and lives in Cambridge, Massachusetts. The following has been edited for length and clarity.I thought I’d stay at Nvidia forever.The pay, learning opportunities, and benefits made it a delight to work there. I had no reason to leave.But Nvidia’s CEO, Jensen Huang, inspired me, and I realized I wanted to be a founder, too.In 2022, I made the extremely hard decision to leave Nvidia and pursue my entrepreneurial dreams. I resigned months before ChatGPT…

A Netflix building in Hollywood, California, Dec. 17, 2025.Zeng Hui | Xinhua News Agency | Getty ImagesNetflix has adjusted its offer for Warner Bros. Discovery’s studio and streaming assets to an all-cash bid, according to an SEC filing Tuesday. Netflix now plans to pay $27.75 per WBD share entirely in cash to acquire WBD’s streaming platform HBO Max and the Warner Bros. film studio. The two companies initially reached a deal in December, composed of a combination of cash and stock at an equity value of $72 billion. CNBC’s David Faber and other media outlets reported last week that Netflix…

Netflix is breaking open its piggy bank to keep Paramount Skydance CEO David Ellison from crashing its Warner Bros. deal.The streaming giant just sweetened its offer for the Warner Bros. studio and HBO by offering all-cash, matching a key feature of Paramount’s hostile bid. Warner Bros.’ board of directors has approved the all-cash bid, and the companies said they expect Warner shareholders to vote on the transaction by April.”Our revised all-cash agreement will enable an expedited timeline to a stockholder vote and provide greater financial certainty,” Netflix co-CEO Ted Sarandos said in a statement announcing the news.”Today’s revised merger agreement…

Larry Fink, the CEO of BlackRock, the world’s largest asset management firm, kicked off the World Economic Forum on Tuesday with a critique of capitalism.More wealth has been created since the fall of the Berlin Wall than at any other time in human history, but it has not translated into shared prosperity, said Fink, who was appointed as interim co-chair of the World Economic Forum in August 2025, replacing founder Klaus Schwab.”In advanced economies, that wealth has accrued to a far narrower share of people than any healthy society can ultimately sustain,” he said. Read more of our Davos coverage:…

This as-told-to essay is based on a conversation with Bill Shufelt, the founder and CEO of Athletic Brewing. Shufelt founded the nonalcoholic beer company in 2017, which has since has driven over 23% of N/A beer category growth over the last seven years. Shufelt lives in Connecticut, near one of the breweries (he occasionally travels to the other brewery in San Diego). This story has been edited for length and clarity.I cut back on drinking as my fitness journey accelerated. As a day trader, I was used to taking 4:30 a.m. group boxing classes before I started work at 6:00…