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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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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…

Tax Bill Impacts Filing Season

On January 19, 2024, the bipartisan House Ways and Means Committee advanced H.R. 7024, the “Tax Relief for American Families and Workers Act of 2024,” to the House floor by a…

FBAR Failure to File Penalty: Bittner v. U.S.

The following is a reprint from the 2023 University of Illinois Federal Tax Workbook, Chapter 12: Rulings and Cases. The video is a discussion of the case by instructor Jerry Brune during…

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