Silver Lining for the Affluent in this Challenging Tax Season
February 16, 2022Gift tax returns are truly a gift for wealthy tax filers. Glitches confounding the IRS for a third pandemic year largely concern individual returns, not gift tax ones, which are filed far less frequently. Last year, donors could give $15,000 each to as many relatives, friends or other recipients as they wished.
New Ordinance Requires Written Contract for Domestic Workers
February 15, 2022New Chicago ordinance requires employers of domestic staff to provide a contract.
Tax Season 2022…Brace Yourself for Bumpy Ride
February 15, 2022Tax preparation professionals suggest: Do everything you can do electronically, especially if you’re due a refund. Keep the human element out and don’t expect to get through to the IRS by telephone.
IRS Suspends Automated Notices to Streamline System
February 15, 2022IRS Suspends Automated Notices In the latest push to try and organize a better 2022 tax season, the Internal Revenue Service is suspending more than a dozen automated letters it sends out to taxpayers. These include collection notices, balance due notices and unfiled tax return notices. The actions seem to be a direct result of… Read more »
Tax Attorney vs. CPA: Why Not Choose Both?
January 10, 2022Can’t Decide Between Tax Attorney or CPA? Why Not Choose Both? Whether you need a professional to assist with tax issues on personal or business-related concerns, it can be difficult to determine which expert best fits your needs. The most reliable professionals to aid you with tax problems are the tax attorney and the CPA…. Read more »
