With rising interest rates, inflation and continuing market volatility, tax planning is as essential as ever for taxpayers looking to…
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…
Unlocking Liquidity: Selling Your Business to an ESOP
An employee stock ownership plan – better known as an ESOP – can be an attractive and tax efficient alternative…
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…
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…
