Tax

As of July 1, 2020, wineries are required to collect Chicago liquor tax on sales made directly to consumers with a Chicago address. This is a significant departure from previous policy: Chicago liquor tax applied only to sales made physically in the city through June 30, 2020.  The change to the Chicago liquor tax policy only affects wineries and other wine sellers, because breweries […]

Federal, state, and local officials scrambled to support struggling businesses and individuals when the coronavirus (COVID-19) first hit. They placed temporary moratoriums on evictions, pushed income tax due dates to July 15, and waived interest and ...

The American Institute of CPAs (AICPA) joined a group of more than 170 organizations in a letter to House Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Mitch McConnell (R-KY) encouraging a technical correction to address the tax treatment of ...

A roundup of recent tax news.

As Chief, CI, Lee will lead the IRS’s criminal enforcement efforts to investigate tax code violations and other related financial crimes such as money laundering, public corruption, cyber-crimes, identity theft, narcotics and terrorist-financing.

Projects must satisfy the “substantial rehabilitation test” within a 24- or 60-month period for determining whether the rehabilitation work is sufficient to qualify a building for the rehabilitation credit.

As we head into August, when Congress is scheduled for a recess, lawmakers are poised to present another COVID-19 relief package to the president for his signature. But the Democratic-controlled House and the Senate Republicans still have to hash out ...

Governors and lawmakers in at least eight states have used millions of federal coronavirus relief dollars to protect businesses from tax increases as unemployment skyrockets.