Tax School Blog

Welcome to the U of I Tax School blog – where you’ll find current, relevant, and actionable information for your practice (and have some fun doing it).

The U of I Tax School blog is written by tax professionals for tax professionals.

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Countdown to ERC Compliance: Voluntary Disclosure Program Deadline March 22

Time is ticking! March 22 marks the crucial deadline for ERC Compliance. Dive into our latest blog, a reprint of IRS Tax Tip reprint (2024-09, Feb. 20, 2024) about this upcoming deadline to participate in the ERC voluntary disclosure program.

S Corp & Partnership Tax Filing Deadlines March 15

A reminder about tax filing deadlines coming up March 15 for S corporations and partnerships, and how to file for extensions if needed.

How to Correct Rejected E-filed Tax Returns

This article summarizes recent IRS guidance for tax practitioners when correcting e-filed returns that have been rejected. It focuses on specific steps to take, guidance on contacting the IRS e-help desk, and it addresses distinctions in handling rejections for business versus individual returns. It also offers insights into specific rules for dealing with e-filed extension rejections.

IRS Enhances Clean Vehicle Credit Information with Updated FAQs

Explore the 2024 IRS Clean Vehicle Credit updates through enhanced FAQs, simplifying the process for claiming electric vehicle credits.

What’s New in Digital Asset Reporting

As digital assets grow more popular, governments and agencies are actively developing regulations to bring greater structure to the area. The IRS is increasingly focusing on how taxpayers, both individuals…

Legislative Limbo: Deciding When to File 2023 Taxes

The IRS started accepting tax returns on January 29th, but on January 31st, the House passed the Tax Relief for American Families and Workers Act of 2024, which could impact…

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