Illinois Audit, Tax and Consulting

Illinois Insights

Illinois tax tribunal: company president liable for withholding tax

President held personally liable for unpaid income tax withholding even after another corporate officer found responsible.

Middle market relief for businesses impacted by the coronavirus

Widespread availability of credits and economic incentives during the COVID-19 pandemic may help businesses increase cash flow.

Illinois sales tax ruling on financial services software and services

Financial services businesses providing software and services to Illinois customers may have multiple transaction tax obligations.

Illinois enacts demographic reporting for public companies

Publicly traded companies located in Illinois may be subject to new demographic reporting requirements by Jan. 1, 2021.

Illinois enacts mobile workforce legislation

Beginning in 2020, some individual taxpayers working remotely in Illinois will have a 30-day safe harbor from the state income tax.

Illinois enacts new apprenticeship tax credit

Senate Bill 1591 provides an income tax credit for qualified apprentice education expenses through Dec. 31, 2024.

Illinois tax amnesty programs kick off on Oct. 1, 2019

Amnesty programs will run through Nov. 15, 2019, and offer qualifying taxpayers complete waiver of interest and penalties.

Illinois enacts broad tax changes

The 2019 legislature passed several tax changes, issued marketplace facilitator rules and provided additional credits and incentives.

Strategies to maximize R&D for automotive companies

The ability of automakers and suppliers to include tooling expenses in their R&D credit can create a tremendous benefit.

Illinois Tool Works wins Tax Court debt-equity case

IRS’ attempt to re-characterize loan as a distribution from subsidiary’s earnings fails under debt-equity principles.