Jan 14, 2026 | Chicago CPA
House lawmakers this week are voting to approve a smaller budget for the IRS as Congress races to avoid another government shutdown at the end of this month. The legislation would provide $11.2 billion to the IRS for the 2026 fiscal year. That’s about 9% lower...
Jan 13, 2026 | Chicago CPA
Multiple states, including Illinois, have chosen to not follow the tax law changes inherent in the One Big Beautiful Bill Act (OBBBA). Our state actually passed H.R.1, a bill that officially “decouples” our income tax laws from that of the Fed. As a...
Jan 9, 2026 | Chicago CPA
My Brothers and Sisters, here we are again. It’s the beginning of a new year which means what to all of us? It’s time to do another round of tax returns. I’ve spent most of last month getting everyone ready for all of the changes, but one thing is...
Dec 27, 2025 | Chicago CPA
I woke up last Sunday morning, and lit a candle. One of the oldest traditions of the German Lutheran Church is that of the Advent Wreath. We light a new candle every Sunday of the Christmas Season, or what in liturgical circles is also known as the Season of Advent....
Dec 15, 2025 | Chicago CPA
This is the eighth column in my series of tax updates to get my clients ready for their December Tax Planning Sessions. The One Big Beautiful Bill Act (OBBBA) changes discussed today include… 1 – The C Corporation Income Tax Rate And NOL Rules Currently,...
