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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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Planning for the Estate Tax Exemption Cliff

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…
Meet Catherine Riddick, Tax School Instructor

Meet Catherine Riddick, Tax School Instructor

This week we’re continuing our summer series on introducing you to the 2024 Fall Tax School instructors. The top quality of our instructors has always been one of Tax School’s…
Tax Rules for Rentals and Vacation Homes

Tax Rules for Rentals and Vacation Homes

The rise of booking platforms, like Airbnb and VRBO, makes it simple for taxpayers to rent vacation homes during down times. However, the IRS has clear guidelines for determining personal…
Meet Keith Baum, Tax School Instructor

Meet Keith Baum, Tax School Instructor

This summer we’re providing a more in-depth look at our 2024 Fall Tax School instructors. We firmly believe that Tax School instructors are one of the main things that sets…
Income Exclusions for Members of the U.S. Armed Forces

Income Exclusions for Members of the U.S. Armed Forces

Members of the U.S. Armed Forces are eligible for income exclusions to help increase their take-home pay. Understanding these income exclusions is essential for tax preparers assisting clients in the…
Taxpayer Relief After a Disaster

Taxpayer Relief After a Disaster

Unfortunately, natural disasters are all too familiar in the United States. Each year, severe storms, wildfires, hurricanes, and tornadoes occur nationwide, leaving affected taxpayers in challenging situations. Following a natural…