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IRS Commissioner Billy Long plans implementation of Trump tax bill

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The new Internal Revenue Service commissioner, Billy Long, explained his plans for the IRS and the new tax bill during his first public talk as IRS commissioner Monday during the National Association of Enrolled Agents’ tax summit.

Long is the 51st commissioner of the IRS and was confirmed last month during a contentious period that saw massive layoffs at the IRS and a series of acting commissioners after former IRS commissioner Danny Werfel’s departure. Donald Trump had named Long as his pick for IRS even before taking office, prompting Werfel to announce his resignation as of Inauguration Day. 

He noted that this past tax season went well despite predictions of turmoil before he was confirmed and sworn in after a long wait. “We’ve got a lot of great people that work there,” he said. 

Long is a former congressman and auctioneer who plans to apply his skills to the IRS, although he doesn’t have a tax background. He grew up in Springfield, Missouri, and went to a real estate school. When he graduated, interest rates were so high that he found it was difficult to sell a house. He signed up for the Missouri Auction School, which he had read in a Newsweek article was referred to as the “Harvard of auctioneering.”

“I learned how to auction real estate, and I had a 32-year career as a real estate broker, and 31 years as an auctioneer,” he said.  “I come to the IRS with a diversified background. Then I ran for office because I thought it was important for somebody that’s actually signed the front of a check to go to Congress, not a career politician. I said, I’ll go six terms, go home, and that’s what I did. I did take a shot in the Senate because Roy Blunt was retiring the same year that I came out of Congress.” However, he admitted he came in last place among the 21 contenders.

Long was sworn in a little over a week ago and one of the first events he attended was a graduation ceremony in Georgia for IRS Criminal Investigation Unit agents. 

He was asked about his plans for implementing the massive new tax bill and joked about the name. 

“I bet you all never thought you’d meet Trump’s One Big Beautiful Bill in person, but here I am,” he joked. “They called it the One Big, Beautiful Bill after me.”

He has been consulting with officials in the Treasury Department such as Treasury Secretary Scott Bessent and Deputy Secretary Michael Faulkender and their employees on implementing the bill. “They had this thing going like a well oiled machine,” said Long. “They have the people in place for different parts and sections of the bill, and they have been there for a long time, and they know what they’re doing.”

He said he has been having conversations with Faulkender every week on implementation and he predicted they’re going to get it done. 

“There’s a lot of provisions in there, a lot of rulemaking needs to be done,” said Long. “Every day I walk in there and I feel like I’m on a tightrope juggling. I don’t know whether to drop the ball or fall off the rope myself, but implementation is going to be key to getting the tax season started on time. I talked to one of our top guys in the IRS last week while I was down on the Atlanta visit, and I said, what’s our start date? And he said that President’s Day historically is our start date.”

The employee predicted they would need every day until then. “They have this thing down pat,” said Long. “They know what they’re doing. They know how to do it. So I’m just going to hide and watch,” he joked.

Long hopes to change the culture of the IRS. “When you get nominated for a position like this, you don’t know what to do, what to ask, what to plan for,” said Long. “My plan was to watch old YouTube videos of former IRS commissioners. And after watching a lot of these, I called President Trump one day, and I said, I would like for my hearing to be on February 2. And he said, why is that? And I said, because it’s like Groundhog Day. I’ve been going back to 1997 with [former Commissioner] Charles Rossotti. Every year, it’s the same complaints over and over and over. A lot of it, I think, is that we’re not taking advantage of our employee partners.”

He has been meeting with employees one-on-one. “I thought, how many people have ever stopped and asked the 1,533 employee partners that work in the building where I work at 1111 Constitution, and how many times has someone stopped and said, ‘What do you think? How’s your life? How’s your kids? How’s your husband’s surgery coming?’ I want to know about their lives, but I also want to know what they think.”

He arrives at the office 90 minutes early every day and schedules 10-minute meetings with employees, in six slots a day. The first woman he met had worked there for 18 years and never been in the commissioner’s office before. 

“And to me, that’s stinking thinking,” said Long. “Why does the commissioner have to be the Wizard of Oz? Why does he have to be the man behind the curtain?”

He plans to open up the meetings to employees outside the building and at some point go virtual for meetings with remote employees.

He alluded to the reports of overcrowding at IRS facilities since a return-to-office order

“We’re going to put 500 people on the sixth floor, moving over from another building there in D.C.,” said Long. “I said I want to go up to the sixth floor. I want to see what it looks like. We’re going to move 500 people there. I went on that tour and I thought I went in and out of every office. I didn’t, but I tried to, and they were just shocked that the commissioner would take time to come.”

Nevertheless, the IRS has been implementing steep cutbacks, with approximately 25% of the workforce now gone as of May, according to a recent report from the Treasury Inspector General for Tax Administration, and others crowded into facilities. He compared it to the real estate business and the competition among real estate agents.

“In real estate, when we had too many agents, we’d take one plaque for agent of the month, put two of them in a conference room, and put that plaque in there, and only one of them would come out alive,” said Long. “That’s how we pared down our people. But when you build a culture and bring everybody along… It’s not my culture. I don’t want to ram my culture down their throat, but I want them to tell me what the culture at the Internal Revenue Service is going to be. And we’re off to a great start with these 10-minute meetings. People are loving them, and I’m getting a lot of good ideas.”

Long was asked about the role of enrolled agents. “Just stay in touch with your folks at the IRS,” he advised. He offered to provide his chief of staff’s email address to the NAEA.

“What I find is when people get a hold of me and say, ‘I’ve been under audit for four years, and they can’t tell me where my audit is, who has my audit or anything,'” he said. “I want people to be able to go and get that information. I want you all to be able to go and get that information for your clients. And it’s staggering how effective the people the IRS are when you get it to the right person. I’ve had things that have dragged along for two or three years, and they can’t get a simple answer.”

He said he was recently listening in on a taxpayer call in Atlanta on a second headset and felt like crying when he overheard one call with a widow who had been repeatedly calling the IRS for help five times about her refund check. “I said, when you call her, you tell her it was her lucky day,” said Long. The commissioner happened to be listening on the other line. And he called her and said, ‘Ma’am, it was your lucky day. The commissioner was listening. I’m here to help you. We have located your refund check, and we’re getting it in the mail to you.'”

He wants to provide similar help with tax audits and said Sam Corcos, a former DOGE employee who is reportedly now chief information officer at the Treasury, would be working on that.  

“I don’t want her to have the commissioner on the line,” said Long. “I don’t want to have to call back. I don’t care about Direct File. I care about Direct Audit.”

He said Corcos is building technology to be able to trace where audits are currently stuck. 

“Get our computers upgraded to where people can do that,” he said. “As far as building the culture, that’s what we need to do, is be able to get the employees where they’re in a better place, where they don’t feel like they have to look at their watch.”

He compared it to a Mickey Mouse watch with Walt Disney and Mickey Mouse holding hands. “If we can redesign it a little bit and make Walt the IRS and Mickey the taxpayer holding hands in partnership,” he said. “I want to be partners with my employees, and I want to be partners with the taxpayers. And that’s my goal.”

Long said he is an expert on UFOs and used to teach a class on them. He plans to bring a different variation of UFO to his job at the IRS. “UFO: upbeat, friendly and open,” he said. “And that’s how I want to operate with my employee partners and with taxpayers.”

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Continuous Auditing Transforms Corporate ERPs

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continuous auditing transforms corporate erps

As corporate accounting departments cross the threshold into late July 2026, the adoption of continuous, automated auditing systems has reached a definitive turning point. Driven by advances in artificial intelligence and deep integration with modern Enterprise Resource Planning (ERP) platforms, leading finance organizations are moving away from traditional, periodic post-hoc audits in favor of real-time, 100% transactional verification. This technological transition is redefining internal control environments, reducing compliance costs, and eliminating the structural delays inherent in legacy quarterly closing processes.

Unlike traditional auditing frameworks that rely on statistical sampling—a process that inevitably leaves operational blind spots—continuous auditing software monitors operational data feeds continuously. Every purchase order, electronic invoice, payroll disbursement, and cross-border wire transfer is automatically cross-referenced against established corporate governance parameters, regulatory tax schedules, and anti-fraud algorithms in real time. Anomalies or unauthorized ledger entries are flagged instantly, allowing internal audit teams to investigate and remediate compliance gaps immediately rather than months after the close of a financial period.

The implications for executive financial management are far-reaching. By embedding continuous verification directly into daily transaction workflows, chief financial officers gain uninterrupted visibility into the organization’s true financial standing. Real-time balance sheet auditing eliminates the severe operational bottlenecks associated with month-end and quarter-end financial reconciliations, freeing accounting professionals to focus on strategic financial modeling, tax planning, and capital allocation rather than manual data entry and spreadsheet consolidation.

However, implementing continuous auditing requires accounting leadership to invest heavily in data governance and technical upskilling. Internal audit teams must evolve from manual ledger reviewers into system architects capable of auditing complex algorithms and validating automated data pipelines. Accounting firms and corporate controllers that master continuous auditing will establish a resilient compliance framework capable of meeting stringent international regulatory standards with total transparency.

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U.S. Imposes New 50% Tariffs on Canadian Imports Under Rare Legal Provision

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U.S. Imposes New 50% Tariffs on Canadian Imports Under Rare Legal Provision

WASHINGTON — In a major escalation of cross-border trade friction, U.S. President Donald Trump has signed executive orders imposing new 50% tariffs on a wide selection of Canadian exports, citing discriminatory practices by Ottawa targeting American auto, dairy, and beverage industries.

The new duties, announced Monday, will take effect in 30 days. They target a broad spectrum of consumer and industrial goods—ranging from wine, liquor, and milk products to commercial cement, furniture, clothing, and hockey equipment.

Untested Legal Mechanism

To enact the sweeping measures, the administration invoked Section 338 of the Tariff Act of 1930—a rarely used legal provision allowing the executive branch to levy additional tariffs of up to 50% on foreign nations deemed to discriminate against U.S. commerce.

White House officials noted that Section 338 addresses trade discrimination rather than national security or economic emergencies. The move comes months after prior global emergency tariffs faced legal challenges in domestic courts, signaling Washington’s pivot toward alternate statutory authorities to maintain import duties.

Senior administration officials briefed reporters that the measure directly responds to Canadian provincial bans on U.S. alcohol, restrictions on American vehicle exports, and import quota disparities affecting U.S. dairy and cheese producers relative to third-party trading partners.

“While the administration continues to secure reciprocal trade agreements globally, Canada retaliated against efforts to protect domestic industry,” U.S. Trade Representative Jamieson Greer stated.

USMCA Impact and Carve-Outs

Significantly, the newly ordered 50% duties will apply to designated items even if they otherwise comply with the United States-Mexico-Canada Agreement (USMCA).

However, the administration confirmed key targeted exemptions:

  • Energy products (including oil and natural gas)
  • Potash and critical minerals
  • Fish and seafood
  • Goods already governed by sector-specific duties (such as existing steel and aluminum tariffs)

Administration representatives emphasized that the tariffs do not stem from recent disputes concerning drifting Canadian wildfire smoke, noting that policy options regarding environmental spillover remain under separate review.

Canadian Response and Market Reaction

Following the White House announcement, the Canadian dollar experienced a sharp decline against the U.S. dollar, falling approximately 0.4% during evening trading.

Canadian Prime Minister Mark Carney issued a statement emphasizing that Canada’s earlier counter-duties had merely matched previous U.S. trade actions. “Canada stands ready to engage intensively to address outstanding issues with the U.S. to the mutual benefit of our citizens,” Carney stated, pointing to detailed proposals Ottawa submitted to modernize the USMCA framework.

Ontario Premier Doug Ford took a firmer stance, urging a “dollar-for-dollar” reciprocal response if the measures go into effect on August 19.

With a 30-day implementation window before the duties officially lock in, industry associations and trade groups on both sides of the border are calling for urgent bilateral negotiations to avert further supply chain disruption across North America.

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Accounting

Automated Continuous Auditing: Transforming Compliance and Real-Time Financial Oversight

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Transforming Compliance and Real-Time Financial Oversight

The traditional accounting paradigm—defined by periodic monthly closures and post-hoc annual audits—is rapidly giving way to continuous, automated financial oversight. As of July 2026, forward-thinking accounting practices and multinational corporate finance departments are leveraging continuous auditing systems powered by advanced machine learning models. These systems monitor operational transactions in real time, shifting audit methodologies from sample-based post-analysis to absolute, 100% transaction-level verification.

The operational advantages of continuous auditing are transformative. Standard auditing procedures historically relied on statistical sampling, which, despite rigorous methodology, inherently left gaps where anomalies or fraudulent transactions could go undetected for months. Modern continuous auditing platforms integrate directly with enterprise resource planning (ERP) databases, instantly cross-referencing purchase orders, invoices, bank feeds, and tax records. Any deviation from established control parameters or unusual transaction behavior triggers immediate flags for internal audit teams, dramatically reducing detection lag from quarters to seconds.

Beyond fraud prevention, continuous auditing fundamentally alters internal reporting and decision-making. Executive leadership no longer has to wait weeks after the close of a quarter to evaluate precise financial standing; real-time verified ledger data provides an uninterrupted view of operating margins, tax liabilities, and cash flow dynamics. This real-time visibility enables corporate controllers to adjust capital allocation strategies dynamically, mitigating liquidity constraints and capitalizing on emerging commercial opportunities far more efficiently than competitors bound to legacy reporting cycles.

However, implementing continuous auditing requires accounting professionals to acquire new analytical capabilities. The role of the auditor is evolving from manual data reconciliation toward system validation, algorithmic model governance, and strategic risk interpretation. Accounting firms and corporate finance departments must invest in continuous technical education, ensuring that audit staff possess the data engineering skills necessary to design, maintain, and evaluate complex automated compliance systems.

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