March 30, 2020

CARES Act Update: Paycheck Protection Program Guide

For many of our clients, one of the most important portions of the CARES Act is the $350 billion Paycheck Protection Program, which provides small business loans which may ultimately be forgiven if payrolls are maintained through the crisis or restored afterward. The U.S. Chamber of Commerce has just issued a “CORONAVIRUS EMERGENCY LOANS: Small…

March 28, 2020

The CARES Act: An Overview

Yesterday, President Trump signed the Coronavirus Aid, Relief and Economic Security Act (CARES) into law after unanimous approval by the Senate and voice vote passage in the House. At 883 pages and $2.2 trillion, it is the largest relief bill in U.S. history and goes to extraordinary lengths to provide relief for taxpayers and businesses…

March 25, 2020

Illinois Extends 2019 Tax Filing Deadline to July 15

Illinois announced today that the 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Illinois income taxes on April 15, 2020, are automatically extended until July 15, 2020. This relief applies to all individual returns, trusts, and corporations, and because it is automatic, taxpayers do not need to file…

March 20, 2020

UPDATED Message Regarding 2019 Tax Deadlines

UPDATE: On Friday, March 20, Treasury Secretary Steven Mnuchin announced that the IRS will move the federal income tax filing deadline to July 15, 2020. The Treasury Department and the Internal Revenue Service are providing special payment relief for individuals and businesses in response to the COVID-19 outbreak. Key points are summarized below, along with…

March 20, 2020

New Federal, City Assistance Available to Illinois Small Businesses

March 20 – Illinois has been added to the list of states now eligible for new low-interest disaster loans offered by the U.S. Small Business Administration in response to the COVID-19 pandemic. The low-interest loans offer up to $2 million in working capital to any qualifying small business or non-profit organization that applies. The loans…

March 19, 2020

New IDES Guidance About Emergency Unemployment Benefits

March 19 – The IDES has issued new guidance covering emergency benefits for workers whose unemployment is attributable to COVID-19. The guidance includes important information for employers and employees alike. For example, under emergency rules recently adopted by the IDES, individuals temporarily laid off because their workplaces closed may be entitled to benefits. To access…

March 18, 2020

Audit Assignments: A Place to Try Everything

I didn’t start college thinking I would become an accountant, but a career assessment test highlighted it for me. I graduated from the University of Illinois at Urbana-Champaign in 2016, and when a job with another accounting firm fell through, I was connected with Weiss. It was a great fit. I started as a tax…

March 13, 2020

A Message To Our Clients Concerning Coronavirus

As you might expect, all of us at Weiss & Company have been working to come to grips with the coronavirus pandemic and its inevitable impact on our business. While our offices remain open at this time, we are prepared to take whatever measures necessary to continue delivering Weiss-level service and support to our clients….

March 8, 2020

From Farm to Firm: Finding the Right Fit at Weiss

I grew up on a hobby farm in Wisconsin, but I decided to double major in economics and accounting at University of Wisconsin-Oshkosh. When I graduated in 2014, I started working at a bigger accounting firm. I found I didn’t like to be pigeonholed into one area – focusing specifically on taxes for manufacturing properties…