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Recent Updates

DOL Says It Will Not Enforce Form T-1; Rescission Expected

Mar 29 in Employee Benefit Plan News, Labor News, Tax Info
The Department of Labor’s Office of Labor-Management Standards (OLMS) has announced that it will publish notice of an intended rulemaking to propose rescission of the Form T-1 Trust Annual Report, established by a March 2020 final rule. As communicated previously, Form T-1 required annual reporting on financial information pertinent to “trusts in which ... Read More ›

Make the most of the Employee Retention Credit

Mar 20 in Emerging Tax and Regulations Alert, Tax Info

The Employee Retention Credit (ERC), which was created to encourage employers to keep their workforces intact during the COVID-19 pandemic, has been with us for a year. But questions about it remain for many employers. With the new American Rescue Plan Act (ARPA) extending the credit and expanding eligibility — and the credit worth as ... Read More ›

Gov. Pritzker Announces Income Tax Filing Extension to May 17 for Illinois

Mar 18 in Individual Tax Alerts, Tax Info

Gov. Pritzker announced today that his administration is extending the individual income tax filing and payment deadline from April 15 to May 17. The Illinois Department of Revenue (IDOR) will continue to process tax refunds for those filing ahead of the deadline.

The filing extension does not apply to estimated tax payments that are due on ... Read More ›

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