Tax School Blog

Practical tax insights for working tax professionals.
Written by tax professionals for the University of Illinois.

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IRS Guidance on Farm NOLs

IRS Guidance on Farm NOLs The IRS has issued guidance on how farm taxpayers are to handle carryback elections related to farm net operating losses (NOLs) in light of all…

Tax Pro Spotlight: Daniel Vargo

Tax Pro Spotlight: Daniel Vargo From time to time, we like to shine a spotlight on a tax professional who is active in the Tax School community. Meet Daniel! I’m…

Advanced Child Tax Credit – What You Need to Know

Advanced Child Tax Credit – What You Need to Know Guest bloggers Debbie Cook, CPA and Kailee Smith from AGC Solutions share a couple helpful videos on the Advanced Child…

A Look at Tax Reform Proposals

A Look at Tax Reform Proposals On May 28, 2021, the Treasury Department released the “Green Book,” a description of revenue proposals within President Biden’s fiscal year 2022 budget. This…

Tax Pro Spotlight: Michael Braun

Tax Pro Spotlight: Michael Braun From time to time, we like to shine a spotlight on a tax professional who is active in the Tax School community. Meet Michael! Hi,…

Mid-Year Tax Planning Ideas for Tax Professionals

Mid-Year Tax Planning Ideas for Tax Professionals It’s time for a mid-year checkup. In today’s blog, Tom shares some planning ideas for tax professionals such as estimating 2021 income and…