Feb 20, 2024 | Chicago CPA
The much touted 2023 Bi-Partisan Tax Bill which passed the House with flying colors is now languishing in the Senate. Given the fact that our hard-working Senators are now on vacation until March 26th, it’s dead. Even if they brought it up for a vote when...
Feb 16, 2024 | Chicago CPA
In a blockbuster report that came out this week, The IRS admitted to having an unprocessed backlog of around 1B documents. That’s billion with a B. Those documents include but aren’t limited to… 1 – Income Tax Returns 2 – Payroll Tax...
Feb 15, 2024 | Chicago CPA
Inflation eased again in January coming in at 3.1% as compared to the prior year. This was down from December’s CPI increase of 3.4%. The problem is that most economists had expected the number to ease under 3% to 2.9%. This threw the markets into a panic, with...
Feb 9, 2024 | Chicago CPA
Beginning in 2024, any organization that files more than 10 information returns at the Federal Level is now required to file those forms electronically. Prior to this new measure, the threshold for electronic filing was 250. If this mandate is broken, the penalty can...
Feb 7, 2024 | Chicago CPA
As of last December, demand for offices in the Chicagoland area stood at 45% of its pre-pandemic norms. This was down a full 10% from the previous year. Many individuals are still working from home which means that companies aren’t in a hurry to sign leases....
Feb 5, 2024 | Chicago CPA
Every year hundreds of tax preparation shops sprout up out of nowhere throughout the Chicagoland Area. By April 16th, many have gone the way of the Dodo Bird, never to be heard from again. The IRS is warning taxpayers about Unprofessional and Illegal Preparers. In...
