On Wednesday, March 25, 2020, Governor Pritzker announced that the 2019 income tax filing and payment deadline is now extended from April 15, 2020 to July 15, 2020.

Sales tax payments affecting more than 24,000 small and medium-sized bars and restaurants in Illinois can now be deferred. Eating and drinking establishments in Illinois that incurred less than $75,000 in sales tax liabilities in 2019...

On November 18, 2020, the U.S. Treasury Department and Internal Revenue Service released Revenue Ruling 2020-27 and Revenue Procedure 2020-51 clarifying the tax treatment of expenses...

The past several years have seen headline after headline about massive data breaches at hospitals, financial institutions and major retailers.

Optional standard mileage rates for use of a vehicle will change slightly for 2017, the IRS announced, with business use and medical and moving rates decreasing (Notice 2016-79).

The COVID-19 pandemic has had a big impact on the way companies conduct business and audit firms are no exception.

On Thursday, December 19, Congress passed the Further Consolidated Appropriations Act, 2020 (H.R. 1865) (the Act) which was then signed into law by the President the next day.

To help manufacturers and other businesses improve their cash flow, the Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a temporary five-year carryback for net operating losses

Revenue cycle management (RCM) is one of the most complex medical office tasks. There are layers of steps involved in the process and roadblocks may be encountered throughout the entire process.

Many restaurants and retailers sell gift cards to consumers.

If you weren't quite ready for the new Fair Labor Standards Act (FLSA) rule regarding overtime pay, then Christmas may have come early!

On August 8, 2020, President Trump signed an executive memorandum that defers an employee's portion of Social Security and Medicare taxes from September 1 through December 31, 2020.

In our previous Client Alert, What You Need to Know About the Families First Coronavirus Response Act, we provided a general overview of the recent Act.

The Tax Cuts and Jobs Act temporarily doubled the federal gift and estate tax exemption through 2025. Adjusted for inflation...

Health care FSAs allow participants to set aside pretax funds (up to $3,050 in 2023) to pay for qualified health care expenses.

The Illinois Office of the Attorney General has provided additional information on recent amendments to the Solicitation for Charity Act that will be effective January 1, 2024.

The COVID-19 pandemic, in the blink of an eye, has created many challenges. Challenges from economic uncertainty to social unrest have left firms to scrap their long-term plans...

U.S. Treasury Department Secretary Steven Mnuchin announced this morning that the 2019 income tax filing deadline will be moved to July 15, 2020 from April 15, 2020...

Before the COVID-19 pandemic, many manufacturers' supply chain management efforts focused on reducing costs and increasing efficiency, in some cases at the expense of flexibility and resiliency.

COVID-19 has upended the world and commercial real estate has not been immune from the effects. As offices, hotels, restaurants, and many retail stores and malls sat empty...