Skip to Main Content
U of I Tax School

Tax School Blog

Practical tax insights for working tax professionals.
Written by tax professionals for CPAs, EAs, and tax preparers.

Federal Tax Updates | Business Tax Issues | Individual Tax Topics | IRS Operations | Practice Management | State & Local Tax | Tax School News

Subscribe to Blog

The WOTC Benefits Employers and the Unemployed

The WOTC Benefits Employers and the Unemployed

The WOTC Benefits Employers and the Unemployed When traveling from our beautiful campus here in Urbana Illinois to my local abode, I’ve come to notice people camped out along Interstate…
Excluded Debt Forgiveness Bites Back Earlier than Expected

Excluded Debt Forgiveness Bites Back Earlier than Expected

Excluded Debt Forgiveness Bites Back Earlier than Expected Now that the tax extension deadline is behind us, we can focus on sharpening the saw, figuratively speaking. It’s not often that…
Social Security 2022 Fact Sheet

Social Security 2022 Fact Sheet

Social Security 2022 Fact Sheet On October 13, The Social Security Administration released its 2022 fact sheet. Let’s look at some of the important provisions to consider when planning with…
Student Loan Interest and Taxes

Student Loan Interest and Taxes

Student Loan Interest and Taxes The federal government recognizes the financial burden that higher education and related student loans can place on borrowers. To address this, the IRS offers certain…
Last Warning… Extension Deadline is Friday

Last Warning… Extension Deadline is Friday

Last Warning… Extension Deadline is Friday Over the past several weeks I’ve been providing last minute planning ideas for your 2020 returns on extension.  Today I will concentrate on the…
Filing 2020 Returns: Help for Clients Who Took Early Distributions from IRAs or Qualified Plans

Filing 2020 Returns: Help for Clients Who Took Early Distributions from IRAs or Qualified Plans

Filing 2020 Returns: Help for Clients Who Took Early Distributions from IRAs or Qualified Plans This week’s entry is a continuation of my effort to provide you with some last-minute…