Tax School Blog

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

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News from Recent IRS Notices

News from Recent IRS Notices The IRS continues to issues notices with guidance on items from the CARES Act and Families First Coronavirus Response Act. In today’s video, Tom discusses…

PPP Loans for the Self-Employed: SBA Q&A

PPP Loans for the Self-Employed: SBA Q&A The U.S. Small Business Administration’s Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their…

Information on Coronavirus Stimulus Packages

Information on Coronavirus Stimulus Packages All of the acts, programs, loans, etc that have been released with the Coronavirus Stimulus Packages can get confusing. If you have tax clients that…

FAQ IRS Notice 2020-18: Federal Tax Relief

FAQ IRS Notice 2020-18: Federal Tax Relief Tom walks us through the frequently asked questions as posted by the IRS regarding Notice 2020-18, which provides special Federal income tax return…

Keep Calm and Carry On [UPDATED]

Keep Calm and Carry On UPDATE 3/23/20: Filing due date postponed to July 15, 2020. See IRS Notice 2020-18. Somewhere over the rainbow, skies are blue. It may not seem…

S Corp and Partnership due [March 16, 2020]

S Corp and Partnership due today [March 16, 2020] Given the uncertainty floating around right now, the due date for these S Corp and Partnership returns may change. Regardless, Tom…