The Internal Revenue Service (IRS) has issued final regulations that reduce the electronic filing threshold from 250 W-2s to 10 informational returns (such as Forms W-2 or 1099), beginning January 2024. If you file 10 or more informational returns, you must file electronically unless the IRS grants a waiver or exemption.
For further information and specifics, Read More ›HB1197 was signed into law by the Governor on June 30, 2023. The bill changes the Illinois Charitable Audit Requirements.
The Illinois Attorney General has required an audit for charitable organizations with revenue over $300,000 for many years. This bill increases the threshold to $500,000 and will require reviewed financial statements for organizations with revenue from ... Read More ›