Aug 12, 2026 | Chicago CPA
The Financial Crimes Enforcement Network (FinCEN) will issue a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act. The final rule is...
Aug 11, 2026 | Chicago CPA
The Senate voted 90-6 to pass a short-term measure that would extend current funding levels through December 11th. The legislation would prevent a lapse in funding for federal agencies, when current government funding expires on September 30th, the end of fiscal year...
Aug 10, 2026 | Chicago CPA
The administration said that it has refunded about $100B of the revenues collected before the Supreme Court reversed the duties on the President’s Liberation Day. The figure, reported Tuesday in a filing in the U.S. Court of International Trade, represents about...
Aug 6, 2026 | Chicago CPA
Some Congressional lawmakers are pushing to eliminate a lucrative tax loophole for cryptocurrency investors estimated to be worth billions annually. Currently, investors in digital assets like Bitcoin and Ether are not subject to the so-called Wash Sale Rules that...
Aug 6, 2026 | Chicago CPA
Accounting practice management solutions provider Karbon, recently surveyed the role of Artificial Intelligence in Accounting Relationships. Although AI seems to be taking over the world one megabyte at a time, it isn’t making much headway in the relationships...
Aug 1, 2026 | Chicago CPA
A revolution is underway in the Accounting World for small and medium-sized businesses. Private Equity began buying firms like mine a couple of years ago. This change easily quadrupled the price of most firms. In some instances, the prices have become astronomical....
Jul 30, 2026 | Chicago CPA
The Chinese Language has hundreds of thousands of hieroglyphs, each having a unique meaning except one. It’s the hieroglyph for the concepts of crisis and opportunity. In the Eastern mindset, they’re the same. Each crisis is an opportunity, and every...
Jul 28, 2026 | Chicago CPA
pThe Supreme Court struck down a broad set of global levies back in February. The President replaced them with a new 10% global tariff using a different legal authority, but that levy was limited by law to 150 days That period ended Friday. On Thursday, the President...
Jul 28, 2026 | Chicago CPA
The IRS will abate Failure to Pay, Failure to File, and Failure to Deposit Penalties if a taxpayer meets the following criteria… 1 – You must have a clean compliance history. 2 – Your returns must have been filed timely with full payment of taxes for...
Jul 23, 2026 | Chicago CPA
The Illinois Department of Revenue (IDOR) is raising various sales tax rates. These changes took effect on July 1st or will begin on August 1st of 2026. Of course, they did this and didn’t tell anyone about it. I only discovered it after one of my jewelry store...
