July 4 opens new client savings window: here's the list

Good morning, friends. Trump Accounts open July 4. That's five days. Most families on your client list who qualify for the $1,000 federal deposit have no idea it exists. The government also decided which 20 companies get access to OpenAI's newest model, and Deloitte put AI agents in front of 85,000 auditors. Big week.

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💰 TAX PLANNING — Trump Accounts open July 4 — your client list starts here

What happened: Section 530A savings accounts open July 4. Every child born on or after January 1, 2025 is eligible for a $1,000 federal deposit, placed in at enrollment. CPAs have five days to pull the right client list and make the call.

Why it matters: That $1,000 compounds tax-free for up to 18 years. Missing the July 4 start doesn't close the door, but it costs compounding days. One phone call to the right client is probably the most useful thing you can do before the holiday.

What to watch: Watch for IRS guidance on whether employer and state contributions can stack on top of the federal $1,000. That answer will shape fall planning conversations.

Read the full analysis →

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Outside Nexairi

Deloitte pushed AI agents to 85,000 auditors this week — Accounting Today

Deloitte's Omnia audit platform now runs a network of AI agents across the full audit workflow. They pull data, draft documentation and flag risk without anyone at the keyboard. When Big 4 firms automate at this scale, mid-size firms start losing the price argument.

U.S. government controls which companies can use GPT-5.6 — TechCrunch

The Trump administration asked OpenAI to limit GPT-5.6 to about 20 government-approved companies over cybersecurity concerns. Sam Altman said this isn't the long-term plan, but right now the government is approving access one client at a time.

Microsoft lets finance teams train Copilot on their own Excel routines — CFO Dive

Copilot in Excel now supports repeatable skills: custom instructions for recurring tasks like variance analysis, monthly close and reconciliation. The output comes with an audit trail. M365 users can train it to follow their own process.

Only 1 in 4 companies can see what AI actually costs them — CFO Dive

A KPMG survey found just 26% of organizations can see what AI actually costs them as it runs. The more agents firms add, the faster spend outpaces the systems meant to track it.

PCAOB chief auditor is leaving after 17 years — Accounting Today

Barbara Vanich leaves the PCAOB on July 15 after 17 years. She oversaw audit standards through the biggest stretch of AI adoption the profession has seen. Leaving mid-cycle, with the agency already under political pressure, leaves a real gap.

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Tool Worth Knowing: Lyto (lyto.app)

Lyto is an AI agent that reads your screen and works across tabs, messages and tools without requiring integrations. If your team still copies data between QuickBooks, email and client portals, try it before spending on something bigger.

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Deeper Read

Agentic AI Is Scaling Faster Than Guardrails — Deloitte Insights

Deloitte's research team argues that agentic AI deployment is outpacing the governance structures designed to control it. Worth reading if your firm is approving new AI tools before building the oversight layer to go with them.

Copilot in Excel: Built for the Era of Frontier Finance — Microsoft 365 Blog

Microsoft's original announcement walks through how firms can build reusable skills for Copilot in Excel — the full technical detail behind this week's CFO Dive headline. If you're evaluating this for your close process, read the source post.

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Quick Hits

• IRS Criminal Investigation
• Rhode Island CPA licensing reform
• FASAB federal MD&A guidance
• PCAOB firm consultation process
• Intuit Connect ON — platform updates
• Smarsh + AWS cut compliance workload 77%
• FASB finalizes SOFR accounting update
• Stripe, Anthropic and OpenAI back $500M anti-infection nonprofit
• PE and AI are squeezing small CPA firms — three paths forward
• The AI Manager: the job that didn't exist last year