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Written by tax professionals for CPAs, EAs, and tax preparers.

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For Whom Does the Filing Deadline Toll?

For Whom Does the Filing Deadline Toll?

The following is a reprint from the 2022 University of Illinois Federal Tax Workbook, Volume A, Chapter 3: Rulings and Cases. We’re sharing this case because it’s not often we see…
Basic Rules On Gifting

Basic Rules On Gifting

Perhaps your end-of-the-year plans include gifting a partridge in a pear tree and the rest of the presents listed in the carol The Twelve Days of Christmas. In 2022, this…
Time Is Running Out To Reduce 2022 Tax Burden Using PTE Payments

Time Is Running Out To Reduce 2022 Tax Burden Using PTE Payments

For pass-through entities based in states other than New York and California, there is still time to reduce their S corporation shareholders’ and partners’ 2022 tax burdens through the PTE…
What Does “Like-Kind” Really Mean Anyway?

What Does “Like-Kind” Really Mean Anyway?

This question was recently raised in the University of Illinois Tax School Facebook Group and addressed in the September 29, 2022, agriculture update webinar entitled New Twists on Tax Strategies…
Thanksgiving Thoughts from Tax Pros

Thanksgiving Thoughts from Tax Pros

Happy Thanksgiving, tax pros! Before we stuff ourselves with all manner of feast food (remember, Illinois is still the reigning producer of pumpkins, so really, each piece of pumpkin pie…
International Taxation Issues Affecting Military Returns

International Taxation Issues Affecting Military Returns

From all of us at Tax School, we want to wish all who have served a very happy Veterans Day. For those of you with clients currently serving in any…