Extension of Tax Payment Deadline Announced
Posted March 18, 2020 / No comments
Breaking News: In an afternoon press conference yesterday, Treasury Secretary Steven Mnuchin announced a plan to extend the April 15 tax payment deadline for individuals and many businesses by 90 days. You are still required to file your tax returns by April 15th unless you decided to extend your return. Official details have not been
Read MoreMessage to our valued clients and friends of the firm about COVID-19
Posted March 18, 2020 / No comments
To our valued clients and friends of the firm: Amid the rapid progression of the coronavirus (COVID-19) and the disruptions it has caused, Tighe, Kress & Orr, PC remains committed to providing highly responsive and exemplary service to our clients. In addition, safeguarding the health of our clients, our people, and the communities where we
Read MoreHouse passes bill to provide coronavirus relief; Senate expected to act this week
Posted March 17, 2020 / No comments
Several arms of the federal government have taken, or are weighing, significant steps to help the country deal with the spread of the coronavirus (COVID-19) and the implications for individuals and businesses. On March 14, the U.S. House of Representatives overwhelmingly passed a bipartisan 110-page bill that has received support from President Trump and, as
Read MoreTighe, Kress & Orr, PC Promotes Mohamed Nurmohamed, CPA to Tax Manager
Posted May 23, 2019 / No comments
ELGIN, IL (Wednesday, May 22, 2019) – Tighe, Kress & Orr, P.C., a certified public accounting firm, is proud to announce the promotion of Mohamed Nurmohamed from Tax Senior to Tax Manager within the firm. Mo provides advisory and planning services for a wide variety of business and individual clients. Additionally, he works extensively with
Read MoreTighe, Kress & Orr, PC Promotes Wade Arthur, CPA to Audit Manager
Posted May 23, 2019 / No comments
ELGIN, IL (Wednesday, May 22, 2019) – Tighe, Kress & Orr, P.C., a certified public accounting firm, is proud to announce the promotion of Wade Arthur from Audit Senior to Audit Manager within the firm. Wade provides attest, advisory and planning services for a wide variety of businesses, governmental agencies and non-for-profits. He also assists
Read MoreTighe Kress & Orr Staff Accountant, Sharon Tucker, Receives the prestigious 2018 Elijah Watt Sells Award
Posted April 12, 2019 / No comments
NEW YORK (April 11, 2019) – The American Institute of CPAs (AICPA) today announced the 110 winners of the 2018 Elijah Watt Sells Award. To qualify for the award, CPA candidates must obtain a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination, pass all four sections on their first attempt and have completed
Read MoreTighe, Kress & Orr, PC recognized by the Illinois CPA Society
Posted November 2, 2018 / No comments
The Illinois CPA Society formally recognized Tighe, Kress, & Orr PC as being one of the first participating firms in the state of Illinois to have 100% of their fulltime CPA staff as members of the Society. This demonstrates Tighe, Kress & Orr, PC’s commitment to both their staff and clients as they value the
Read MorePartner in Empowering Lives Award Presented to Tighe, Kress & Orr, P.C.
Posted October 24, 2018 / No comments
On Saturday, October 20, 2018, Tighe, Kress & Orr, P.C. was the proud recipient of the Partner in Empowering Lives Award presented by the Renz Addiction Counseling Center. This award, presented at The Center’s Annual Gala, was given to Tighe, Kress & Orr, P.C. in thanks for their outstanding support related to Renz Center’s and
Read MoreIllinois Budget Update – July 6th, 2017
Posted July 10, 2017 / No comments
On July 6, 2017, the Illinois General Assembly passed Public Act 100-0022, overriding the Governor’s veto. This bill is more commonly known as the Illinois Budget. In this Act, there are numerous tax changes that will affect all Illinois residents, many retroactive to July 1, 2017. If you are concerned about how these tax changes
Read MoreFederal Tax News Post for June 27th
Posted June 27, 2017 / No comments
Rentals not treated as passive investment income for S corporation purposes. In some cases, having too much passive income, which may include rent, can cause an S corp to lose its S status. But rents included in the definition of passive investment income for S corp purposes exclude those derived in the active trade or
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