Coronavirus (COVID-19) & Tax Filing Update

We Are Here For You Effective June 29, 2020, W&D will begin its office reentry plan.  All W&D firm members continue to be fully available to you.  Our first priority is the protection of your health and the health of…

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Albert & Goodman Merges Practice with W&D

Warady & Davis LLP, Certified Public Accountants and Consultants, is pleased to announce that Albert & Goodman CPAs PC, formerly of Buffalo Grove, IL, merged with our firm effective January 1, 2019. Warady & Davis LLP ranks as one of…

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Partnerships: Get ready for new audit rules

For partnerships, including limited liability companies taxed as partnerships, new audit rules are a game changer. The rules apply to returns for partnership tax years that begin after December 31, 2017, including amended returns. The changes aren’t merely procedural; they…

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Illinois’ Budget Brings Tax & Withholding Changes

The Illinois House voted to override Gov. Bruce Rauner’s veto of a budget package, giving the state its first spending blueprint in more than two years.  While this action eases some of Illinois’ financial woes, it’s fueled by a permanent…

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Trump’s FY 2018 budget outlines tax reform proposals

Since taking office in January, President Trump has called for comprehensive tax reform. The President’s fiscal year (FY) 2018 outlines some of his key tax reform principles. At the same time, White House officials said that more tax reform details…

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Congressional Leaders Highlight Tax Reform Proposals

As the new administration and Congress get to work, tax reform is high on the agenda. Although legislative language has not been yet released, statements from tax writers in Congress shed some light on various proposals. Tax reform House Ways…

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21st Century Cures Act Expands use of HRAs by Small Employers

The 21st Century Cures Act (“Act”), passed in late December, 2016, contains provisions for “Qualified Small Business Health Reimbursement Arrangements” (“HRA”). This new HRA would allow eligible small employers who do not offer a group health plan to ANY of…

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FLSA Overtime Rules Temporarily Blocked

FLSA Changes No Longer Effective December 1, 2016 On November 22 a federal judge issued a nationwide injunction blocking the U.S. Department of Labor (“DOL”) from implementing its new overtime rule scheduled to take effect December 1, 2016. The court’s…

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Election Year Politics Drive 2016 Tax Legislation

Election-year politics continue to drive 2016 tax legislative action as both parties lay down policy agendas for 2017 and beyond. As expected, Congressional party leaders are offering competing plans on how to reform the tax system and to promote other…

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