Extended Due Date Of Illinois Tax Return Announcement
Posted October 24, 2018 / No comments
The extended due date of the Illinois income tax return coincided with the 10/15/18 extended due date for the federal return. So the IL Dept. of Revenue recognizes that taxpayers may have had trouble meeting the deadline. The department announced it will approve requests for abatement of penalties for late filing of any Forms IL-1120,
Read MoreCongress passes biggest tax bill since 1986
Posted December 21, 2017 / No comments
On December 20, the House passed the reconciled tax reform bill, commonly called the “Tax Cuts and Jobs Act of 2017” (TCJA), which the Senate had passed the previous day. It’s the most sweeping tax legislation since the Tax Reform Act of 1986. The bill makes small reductions to income tax rates for most individual
Read More“Nanny Tax” Threshold Increases
Posted October 20, 2017 / No comments
“Nanny tax” threshold increases to $2,100 for 2018. The Social Security Administration (SSA) announced that, if a household worker’s cash wages exceed the domestic employee coverage threshold of $2,100 in 2018, you must pay Social Security and Medicare taxes. This amount, which is adjusted for inflation, is up from $2,000 for 2017. The dollar threshold
Read MoreNew Senior Audit Manager Announcement
Posted September 18, 2017 / No comments
Tighe, Kress & Orr, P.C. Hires New Senior Audit Manager ELGIN, IL (Thursday, September 14, 2017) – Tighe, Kress & Orr, P.C., a certified public accounting firm, is proud to announce Stephen Leazzo has joined the team in the role of Senior Audit Manager. Steve joins the firm with over 11 years of public accounting
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