MYCPE ONE Insights | November Week 1 Edition

Welcome to the November Week 1 Edition of MYCPE ONE Insights, where we spotlight the most impactful developments shaping accounting, finance, and business strategy.  

This week, we unpack Kimberly-Clark’s $48.7B leap into healthcare with its acquisition of Tylenol-maker Kenvue, Thomson Reuters’ game-changing launch of CoCounsel AI for tax and accounting pros, and the IRS’s relief on new payroll reporting rules.  

We also examine the dramatic First Brands lawsuit over alleged executive fraud and New York’s bold attempt to tax its way to economic reform.  

Dive in for sharp insights that connect headlines to real-world implications for finance professionals. 

Kimberly Clark buys Tylenol maker Kenvue in $48B deal

Kimberly-Clark is diving headfirst into healthcare with a $48.7 billion plan to buy Kenvue, the maker of Tylenol and Band-Aid. The move could reshape America’s bathroom shelves and make Kimberly-Clark the No. 2 global consumer-health giant behind P&G. But with lawsuits, investor jitters, and a heavy debt tab in play, the real test will be whether Huggies and Tylenol can share the same basket without breaking it. Could this be a brilliant brand merger or an expensive headache in the making? Read Insights

Thomson Reuters Debuts CoCounsel AI for Tax and Accounting Professionals 

Thomson Reuters just gave accountants and auditors their dream coworker, one that doesn’t need coffee breaks. Its new CoCounsel AI uses agentic intelligence to handle tax prep, audit testing, and compliance workflows while you focus on strategy. Early adopters say it cuts tasks by up to 70%, saving hours during crunch season. And yes, it plays nice with Checkpoint, Excel, and your sanity. Is this the beginning of the end for busywork in accounting, or just the start of smarter firms? Read Insights

IRS offers relief on Tip Deduction and Overtime Reporting Rules 

The IRS just gave employers a breather, and then took one itself. Under new relief, businesses won’t face penalties in 2025 for missing separate W-2 reporting of tips and overtime, thanks to system delays under the One Big Beautiful Bill Act. But while payroll teams exhale, taxpayers lost the IRS’s Direct File platform, shelved for 2026 after rave reviews. Two steps forward, one refund back? Accountants, sharpen your spreadsheets, OBBBA compliance lands in full next year. Read Insights

First Brands Sues CEO for Allegedly Pilfering Hundreds of Millions 

First Brands’ bankruptcy just turned into a courtroom thriller. The auto parts giant, drowning in $12 billion debt, is now suing its former CEO, Patrick James, accusing him of siphoning off hundreds of millions through fake invoices, double-pledged assets, and lavish spending sprees that included luxury cars and million-dollar homes. New management alleges James turned company coffers into his personal wallet, leaving creditors to clean up the mess. The case now ripples far beyond one firm, raising alarms across private credit markets where transparency is thin and egos are thick. Could this become the next Enron-style reckoning? Read Insights 

Can New York Really Tax Its Way to a Free Ride?

New York’s new mayor, Zohran Mamdani, wants to turn big dreams into line items. His plan? Raise corporate and millionaire taxes to fund childcare, rent freezes, and even city-run grocery stores. The $9 billion revenue target sounds bold, but the math may not balance. Higher corporate rates could push companies south, while top earners may simply switch ZIP codes. With a $90 billion city budget already stretched thin, accountants are wondering if optimism has replaced arithmetic. The question now: can New York really tax its way to prosperity, or is it time for a fiscal reality check? Read Insights

That’s a wrap for this week’s MYCPE ONE Insights.  

Stay informed, stay ahead, and join us next Friday for more stories shaping the future of accounting and finance.