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Postponed Affordable Care Act Taxes

On January 22, President Trump signed into law a short-term government funding bill. It ended the brief government shutdown by funding the federal government through February ... Read more

Important Tax Deadlines

With the start of the new year, the next tax season is now upon us. The Internal Revenue Service (IRS) announced they will begin processing returns on Monday January 29, 2018. ... Read more

Why Are Financial Ratios Important?

Managing a company, organization or enterprise can be a challenging task. Along with the day-to-day activities of running the company, it’s vital to evaluate performance on ... Read more

Act Now to Reduce or Avoid an Estimated Tax Penalty

Each year, about 10 million taxpayers are assessed the estimated tax penalty. Most of these affected taxpayers can easily reduce, or in some cases, eliminate the penalty by in ... Read more

How Will Latest Tax Reform Impact Businesses?

On December 15, the final version of the Tax Cuts and Jobs Act, a sweeping tax reform proposal was released. Here we describe key business tax changes that are made under the ... Read more

2018 IDES Annual Contribution Rates

Employers that are registered with Illinois Department of Employment Security (IDES) should have (or will soon) receive a letter indicating their annual contribution rate for ... Read more

How Will Tax Reform Impact Individuals and Pass-Throughs?

On December 15, the final version of the Tax Cuts and Jobs Act, a sweeping tax reform proposal was released. Here we describe key individual tax changes that are made under th ... Read more

Distinguishing Between Regular and Supplemental Wages

In Revenue Ruling 2008-29, the IRS has provided specific guidance on the proper amount of federal income tax an employer should withhold in the following nine different situat ... Read more