Currently, U.S. citizens and non-U.S. citizens domiciled in the U.S. are entitled to an $11.7 million gift and estate tax…
Illinois Tax Changes: Fiscal 2022 Budget Legislation
As part of its fiscal year 2022 budget (FY 2022 Budget Implementation Act), Illinois enacted legislation (S.B. 2017) containing numerous…
Proposed Changes to the Self-Employment Tax Exemption
The recently published Green Book contains details on changes proposed by the Biden Administration that aim to rationalize the net investment income…
Potential Tax Savings if Rates Increase
The Treasury Department’s Green Book outlines proposals supported by the Biden Administration that would increase federal tax rates for corporations…
Details Emerge on Biden Administration Tax Blueprint
A detailed look at the Biden administration’s proposed tax measures.
IRS Identity Theft Procedures – Responding to Letter 6042C
One of the tools the IRS uses in its efforts to prevent tax-related identity theft and to confirm that a…
