Apr 3, 2024 | Chicago CPA
Annually the Internal Revenue Service publishes the Dirty Dozen. It’s a collection of the biggest tax scams currently occurring in the country. The top four heading this year’s list are… 1 – Phishing and Smishing Scams Fraudsters can be...
Mar 29, 2024 | Chicago CPA
The Federal Budget passed by Congress last week officially gives the IRS a $20.2B haircut. This had been previously agreed upon, but not actually signed into law. The bill provides a $12.3B budget for the Service in Fiscal 2024. This is the same amount that’s in...
Mar 25, 2024 | Chicago CPA
As long as I can remember, The Internal Revenue Service (IRS) has put individual income tax returns through a matching process. This is a part of the grading process that determines whether or not your return will be referred to the audit division. The Service already...
Mar 20, 2024 | Chicago CPA
Governors of the Federal Reserve Bank will meet again today, deciding whether or not to change their Fed Funds interest rates. Their decision is due this afternoon. It’s widely expected that they’ll hold rates steady in a game of wait and see. The question...
Mar 11, 2024 | Chicago CPA
The Small Business Administration (SBA) began referring $20B in delinquent Covid Loans, to the Treasury Department for immediate collection. Most of these were Economic Injury Disaster Loans (EIDLs) with a balance below $100K. Prior to this, the SBA had already...