Taxes April 24, 2026
Illinois Democrats failed to advance a proposed constitutional amendment that would have asked voters in November to impose an additional tax on residents who earn more than $1 million a year.
March 31, 2021
The IRS is strongly urging taxpayers to not file amended returns related to the new provisions in ARPA or take other unnecessary steps at this time.
March 31, 2021
Taxpayers who believe they may have provided identity thieves with this information should consider immediately obtaining an Identity Protection PIN. This is a voluntary opt-in program. An IP PIN is a six-digit number that helps prevent identity ...
March 31, 2021
The Internal Revenue Service has issued frequently asked questions on how students and higher education institutions should report pandemic-related emergency financial aid grants.
March 30, 2021
The Tax Blotter is a round-up of recent income tax news.
March 30, 2021
Payments will begin to be issued this weekend to Social Security recipients and other federal beneficiaries who do not normally file a tax return, with the projection that the majority of these payments would be sent electronically and received on April 7
March 29, 2021
The Internal Revenue Service has issued Announcement 2021-7 PDF to clarify that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are ...
March 29, 2021
The good news is the first $10,200 that most taxpayers received in unemployment benefits of up to $10,200 are not taxable for 2020. If you have already filed your tax return for 2020 the IRS is asking you to not file an amendment, as they will take ...
March 29, 2021
Contributions to a traditional IRA are usually tax deductible, and distributions are generally taxable. There is still time to make contributions that count for a 2020 tax return, if they are made by April 17, 2021. Taxpayers can file their return ...
March 28, 2021
To learn more about COVID-19 scams and other financial schemes visit IRS.gov. Official IRS information about COVID-19 and Economic Impact Payments can be found on the Coronavirus Tax Relief page, which is updated frequently.
March 25, 2021
A refundable, advanceable tax credit of up to $15,000 for first time homebuyers, being considered in future tax and economic stimulus legislation, could catapult millions of renter households into first-time homeownership, a new Zillow analysis suggests.
March 18, 2021
It’s tax time and, be it virtually or in person, we’re meeting with many of our clients. In some cases, it’s the only time all year we will hear from them. We need to gather the appropriate financial information so that we can prepare their tax ...
March 18, 2021
Foster Nation helps former foster youth overcome the challenges associated with ‘aging out’ of the foster-care system. The goal is to help these young adults become self-sufficient and have the same opportunities for success as other youth.