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Three years since the launch of ChatGPT, attention to AI in the tax and finance field continues to rise, but full implementation still requires time. Michael Bernard, Chief Tax Officer at tax automation provider Vertex, points out that ensuring report accuracy requires not only a "human in the loop" but also tools that are "human-centric." A 2025 Thomson Reuters survey shows that only 6% of tax departments are active AI users, but 88% expect AI to become core within five years. Facing a shortage of accounting talent, companies are seeking "hybrid" talent with both tax and technical capabilities, while traditional financial knowledge remains the cornerstone.
In a joint interview, Rimini Street Chief Financial Officer Michael Perica and Chief Information Officer Joe Locandro stated that finance and IT departments should establish a dialogue mechanism that prioritizes strategy over budget. Both emphasized that CFOs and CIOs, as peer partners at the executive level, should jointly focus on value creation from enterprise-level technology investments, rather than mere cost minimization. The article also cites KPMG surveys and Mavrik research, noting that technology budget disagreements and AI cost overruns are widespread, and governance mechanisms need to be proactive rather than remedial.
The IRS suspended most operations on Wednesday, retaining only core employees, after exhausting unused funds. The agency had used Inflation Reduction Act appropriations to operate for another week but now has to place most staff on furlough. The acting human capital officer stated that the timing of employee pay is unpredictable. Previously, the Treasury Inspector General for Tax Administration warned that staff reductions could affect refund processing during the next filing season.
The lag in the closing process often constrains CFOs' strategic investment. This article explores how process improvements and automation can transform the monthly close from a reactive task into a forward-looking strategic tool, and proposes maturity levels and implementation paths.
According to the Financial Times, citing sources familiar with the matter, Elon Musk's long-time advisor and former Morgan Stanley banker Anthony Armstrong has been appointed Chief Financial Officer of xAI and X. He will oversee the finance departments of both companies simultaneously, succeeding X's former finance chief Mahmoud Reza Banki and filling the vacancy left by the departure of xAI's previous CFO Mike Liberatore. This move comes after Musk announced in March 2025 that xAI would acquire X in an all-stock deal, valuing the combined entity at approximately $113 billion.
A survey of 215 North American IT buyers by TD Cowen reveals that 42% of companies expect to invest over 30% of their cloud budgets in generative AI within the next three years, with related spending quadrupling by 2028. Gartner analyst Hardeep Singh recommends controlling costs through committed contracts, FinOps, and resource optimization, and notes that enterprises are shifting toward industry-specific cloud solutions to address compliance needs.
According to a Challenger, Gray & Christmas report, AI directly led to 7,000 job losses in September 2025, with the year-to-date total exceeding 17,000. The technology sector leads in layoffs, with companies such as Salesforce explicitly attributing job cuts to AI. The overall number of layoffs reached 946,000, the highest for the same period since 2020.
Artie Minson previously served as co-CEO of WeWork and CFO of AOL. He believes the transition from finance executive to CEO is a natural extension. Recent reports show that about 7.5% of current CEOs in Fortune 500 and S&P 500 companies come directly from CFO roles, a percentage that has been rising year over year. Minson is now CEO of Trullion, an AI-powered accounting software startup.
This article explores the impact of the One Big Beautiful Bill Act on R&D tax policy, noting that the scope of R&D tax credits extends far beyond laboratories and patents, encompassing a wide range of activities such as software development and AI, and provides guidance for companies to optimize their tax strategies.
A KPMG survey found that since the Trump administration announced large-scale import tariffs on April 2, 66% of U.S. companies have passed up to 50% of costs on to consumers, and 71% expect to raise prices by up to 15% in the next six months. 39% of companies saw declining gross margins, and 44% expect continued declines over the next year. The Yale Budget Lab calculates that tariffs will reduce economic growth by 0.5 percentage points this year, with consumers facing an effective tariff rate of 17.9% and average household annual income decreasing by $2,400.