What's New

The tax code and financial landscape are a maze of complexity. We provide timely updates to help you identify opportunities - including breaking tax news, business, financial, technology and personal strategies.

Current Developments

Date	Item	Full Article
11/10/2008	Illinois Income Tax Withholding By Pass-Through Entities: The New Rules. Important new IL Dept of Revenue information for S corporations, partnerships, LLCs taxed as partnerships and trusts.
10/3/2008	The Emergency Economic Stabilization Act of 2008. This landmark legislation gives the Treasury $250 billion immediately, and requires the President to certify if an additional $100 billion is necessary. An additional $350 billion may be disbursed subject to Congressional approval. The Treasury Department is required to report on the use of the funds and progress made in addressing the crisis. An oversight board and a special inspector general will also be created to watch over the Treasury Department. In addition to the financial markets rescue plan, the Act also includes an AMT Patch, Extenders, Disaster Relief and more.
7/30/2008	Housing and Economic Recovery Act of 2008 Enacted. President George W. Bush recently signed the sweeping Housing and Economic Recovery Act of 2008 (H.R. 3221 Housing Act of 2008) into law. The Housing Bill is designed to help homeowners avoid foreclosure, spur home buying and prop up struggling mortgage giants Fannie Mae and Freddie Mac. The bill takes several approaches to curing the ailing housing market.