By Jake Cook, CPA The IRS Tax Exempt and Government Entities division released its fiscal year 2022 Program Letter on…
Nonprofit Items to Note – Winter 2022
FASB Issues ASU 2021-09, Leases (Topic 842): Discount Rate for Lessees That Are Not Public Business Entities On Nov. 11,…
House Releases Rewrite of Build Back Better Tax Proposals
A version of H.R. 5376 (the Build Back Better Act), released on October 28, 2021 by the House Budget Committee, eliminates many…
Complying with Year-End Reporting Requirements for Qualified Sick and Family Leave Wages Paid in 2021
The IRS has issued guidance to employers on year-end reporting for sick and family leave wages that were paid in…
House Ways and Means Committee Releases Initial Tax Proposals
On September 13, 2021, the House Ways and Means Committee released draft legislation that proposes a series of tax increases…
New Illinois Unclaimed Property Program
The state of Illinois began a new unclaimed property enforcement program around July 1, 2021, to identify noncompliant companies that…
