U of I Tax School Blog

Disengaging From a Client: Why Having a Plan Matters

Disengaging from a client requires more than ending communication. This article outlines practical steps tax practitioners can take to document the process, reduce risk, and maintain professionalism when ending a client relationship.

Tax Considerations & Knowledge Transfer in Practice Succession

Successful succession planning involves more than transferring ownership or assets. Knowledge transfer plays a key role in helping the next generation understand business operations, tax responsibilities, decision-making processes, and long-term planning strategies. This article explores tax considerations that can affect knowledge transfer and why communication and documentation matter during a transition.

How to Structure Your Tax Practice Transition and Prepare for the Unexpected

Succession planning for a tax practice involves more than timing a sale. This article explores how to structure transitions, prepare for emergencies, and evaluate your firm with the right valuation approach.

Tax Season Bingo

As tax season wraps up, we pulled together a bingo card of the moments that show up every April. Take a look and see how your season stacks up.

IRS Provides Blanket Underpayment Penalty Relief for Qualifying Farmers Filing 2025 Returns

The IRS is providing underpayment penalty relief for qualifying farmers and fishermen filing 2025 returns. This article explains who qualifies, how the relief works, and what to do if a penalty was already assessed.

Keeping Clients Confident and Your Succession Plan Up to Date

How you communicate a transition can shape how clients respond. This article outlines practical ways to inform clients, maintain confidence, and keep your succession plan current.