News

Wisconsin Notices on Qualified Charitable Distributions

The Wisconsin Department of Revenue (WDOR) has started a limited audit project focused on retirement income reporting. Some taxpayers may receive a notice of tax due if WDOR’s records don’t clearly ...

Final Reminder — Extended Tax Returns Due Oct. 15

Final reminder! If you filed an extension for your 2024 individual or calendar year-end C-corporation income tax return, your deadline is tomorrow, October 15.

This is the final day to file your ...

WI Annual Report filing services scam

If you are a Wisconsin-based business with your state annual report due December 31, you may have recently received a legitimate-looking email from “US Filing Services.” This email looks as though it ...

IRS to Phase Out Paper Refund Checks

The IRS and Treasury Department announced that paper refund checks for individual taxpayers will begin phasing out on September 30, 2025, following an executive order signed by President Trump earlier ...

Final Paychecks and Company Equipment

Question: An employee recently resigned and hasn’t returned company equipment. Can we hold their final paycheck until we get everything back?

The short answer: No, you cannot hold or delay a final ...

Since We’re Talking Retirement Plans...

You should review your retirement plan’s forfeiture account and ensure any forfeited amounts are used or allocated promptly, in accordance with your plan document. In most cases, unallocated funds in ...

Submitting 401(k) Deferrals: The Rules

If your small business sponsors a 401(k) plan, one of your key responsibilities is making sure that employee deferrals are deposited into the plan timely and accurately. The IRS and Department of ...

Summer Activities That Can Affect Your Tax Return Next Year

While summer is a time for fun, it’s never the wrong time to be thinking about taxes (even though you may disagree). Some summer activities can have an impact on your tax returns. Here are a few ...

What to Know about Tax Deductions for Business Travel

Business travel deductions are available for certain people who travel away from their home or main place of work for business reasons. A taxpayer is traveling away from home if they are away for ...

Illinois Sales Tax Changes

Effective July 1, 2025, certain taxing jurisdictions have imposed a local sales tax or changed their local sales tax rate on general merchandise sales. The following taxes are affected:

• Business ...