Do you want to make sure that your favorite charity or charities are provided for after you’re gone as well as reduce the tax burden on your estate? Would you like the opportunity to earn revenue from an asset without selling it? There is an answer. The Charitable Trust These are also … [Read more...]
IMPORTANT: Clarification on Tax Return Due Dates
The IRS has clarified which returns can be filed July 15. Only corporate and individual returns due April 15 can be filed on July 15. If your return is due May 15 or June 15, you need to file for an extension of time. Illinois corporate and individual income tax returns due April 15 can be … [Read more...]
Estate Planning and Coronavirus: What You Need To Do
The spread of COVID-19, also known as the Corona Virus, is impacting our everyday lives as we know it. Social distancing, working from home and limited supplies are just some of the side effects of this pandemic. Another problem can arise if an individual has not updated their estate plans, or … [Read more...]
Illinois Extends Filing Deadlines
Illinois has just announced it has extended the filing deadlines to correspond with the extended federal deadlines that we announced earlier today. It means that all income tax returns normally filed on April 15 and all estimated payments are now due July 15. … [Read more...]
IRS Extends Tax Return and Payment Deadlines
To help taxpayers affected by the Coronavirus pandemic, the IRS has announced that it is extending various filing and payment deadlines to July 15. INCOME TAX RETURNS: This includes individuals, corporations, trusts and estates and nonprofits. This extension includes time to pay … [Read more...]