For FY 2022, the IRS has announced changes to a question on Forms 1040, 1040-SR and 1040-NR relating to digital assets. These changes not only clarify the meaning of the term, but also better define when it applies. Previously, the question required a “Yes” or “No” answer to the following: “At any time in 2021,…
As Weiss & Company LLP kicked off the new year and their 55th tax season, the longtime Glenview-based CPA firm announced a number of significant staffing moves. “We take talent and culture very seriously at Weiss,” managing partner Dan Fortman said in making the announcement, “and I think these moves reflect the strength of our…
The Internal Revenue Service recently announced that it will begin accepting tax returns on Monday, January 23rd, 2023, officially launching Tax Season 2023. As a service to our clients as well as the general public, the team at Weiss and Company LLP put together the following month-by-month guide to 2023’s key tax dates and events….
Among the measures included in the omnibus spending bill passed by Congress and enacted in the last week of 2022 is a package of provisions that will fundamentally change the way Americans save for retirement. Dubbed “Secure 2.0,” the legislation is designed to build upon the retirement system improvements implemented under the SECURE Act of…
Round 1 of Illinois’ electric vehicle rebate program is now underway, with applications being accepted through January 31, 2023 for rebates of up to $4,000 on qualified purchases of new and used all-electric vehicles. The popular program, which was launched by the Illinois EPA on July 1st of last year, is open to Illinois residents…
The IRS has issued its 2023 optional standard mileage rates* used to calculate the tax-deductible costs of operating a vehicle for business, charitable, medical, or moving purposes. Starting January 1, 2023, the standard mileage rates for the use of an automobile, including vans, pickup trucks, or panel trucks, is as follows: 65.5 cents per mile…
Weiss & Company LLP is extremely pleased to announce that senior managers — Katherine Chung and Jeremy Morgan — have been promoted to partners. “We pride ourselves on our expertise and client service, and Jeremy and Katherine both personify these attributes in practice,” said managing partner Dan Fortman. “As we begin 2023, we are excited…
