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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September 16 Deadline for Extended Pass-Through Filings

Pass-through entities such as S corporations and partnerships with a calendar-year-end face an upcoming extended tax filing deadline on September 16, 2024. Although the six-month extension may seem generous, many…

ERC Voluntary Disclosure Program Reopened with Updated Terms

The ERC Voluntary Disclosure Program has reopened until November 22, 2024.

The Federal Tax Workbook – Process in Perspective

Get an insider’s look at the annual Federal Tax Workbook review process at the University of Illinois, where over 30 experts gather each August to perfect this essential resource for tax practitioners nationwide.

Meet Bob Rhea, Tax School Instructor

We wrap up our summer series on 2024 Fall Tax School instructors by introducing you to Bob Rhea. He will be at all Fall Tax School sessions this year (in-person…

Determining AFS for Corporate AMT Calculation

The Inflation Reduction Act of 2022 imposes a new 15% corporate alternative minimum tax (CAMT) effective for tax years starting after December 31, 2022. The IRS has released several notices,…

Planning for the Estate Tax Exemption Cliff

2026 is just around the corner! We all knew it was coming, but now that it’s almost here, the pressure to use the increased lifetime estate and gift tax exemption…

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