The prevalence of cryptocurrency—or what the Internal Revenue Service (IRS) refers to as “virtual currency”— in investing and financial transactions has increased…
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…
5 Considerations for the Nonprofit Sector
By Divya Gadre, CPA Since navigating the headwinds of the past year, nonprofit organizations have reimagined their operations to maintain…
Should You Change Your Accounting Method for 2021?
As Congress grapples with tax proposals and the pandemic continues to create uncertainty for businesses, corporations and pass-through entities can…
Illinois Enacts Bill Allowing for PTE Tax Elections
Illinois on August 27, 2021 enacted S.B. 2531, which will allow pass-through entities (PTEs) to elect to be taxed at…
