Tax Planning Chicago

Bittner v. U.S., the U.S. Supreme Court ruled that the penalty for non-willingly failing to file an FBAR applied on a lower per-report basis, not on a per-account basis

Here’s a rundown of the business and individual tax provisions included in President Biden’s recently released budget proposal.

Included in Consolidated Appropriations Act of 2023 is a package of enhanced retirement benefits, otherwise known as the SECURE 2.0 Act.

Included in Consolidated Appropriations Act of 2023 is a package of enhanced retirement benefits, otherwise known as the SECURE 2.0 Act.

As 2022 winds down, now is the time for your business to take stock of its tax situation and implement year-end tax planning strategies.

Are you interested in reducing your 2022 tax liability?

Employers may still claim the Employee Retention Credit (ERC) retroactively by filing amended payroll tax returns (Form 941-X) for tax years 2020 and 2021.

The U.S. District Court for the Northern District of Texas Fort Worth Division has ruled that President Biden’s student loan debt relief plan to be unlawful and have vacated the program [Brown et al. v. U.S. Department of Education et al., N.D. Tex., Dkt. No. No.4:22-cv-0908-P, 11/10/22].

The application website for Americans seeking student loan forgiveness opened in a beta period on Friday, October 14th, allowing applicants to sign up before the website is unveiled later this month.