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Posts
- IRS releases critical guidance on calculating tips and overtime deductions for 2025
- Does your board understand the meaning of “fiduciary”?
- Checking off RMDs on the year-end to-do list
- Employee or independent contractor? Why the answer matters
- Nonprofits: Tax rules for holiday gifts and celebrations
- Have you used up your 2025 FSA funds?
- It’s important to scrutinize grants before accepting them
- Legacy Professionals attend IFEBP U.S. Annual Conference
- How the Social Security wage base will affect your payroll taxes in 2026
- The right board for your nonprofit
- New information return and payroll tax reporting rules require attention
- Putting a value on tangible property donations
- Legacy Principals attend IFEBP Annual Collection Procedures Institute
- The power of catch-up retirement account contributions after 50
- The search is on: Finding an independent auditor
- What taxpayers need to know about the IRS ending paper checks
- The OBBBA will soon eliminate certain clean energy tax incentives
- How will the OBBBA affect individual taxpayers?
- Donna A. Hubert Scholarship Fundraiser July 21 at Alter Brewing + Kitchen
- 2025 Donna A. Hubert Scholarship Recipients Announced
- President Trump signs the One, Big, Beautiful Bill Act into law
- Eileen Brassil and Michael Tiberi Attend the IFEBP Accounting and Auditing Institute
- Review your nonprofit’s revenue like an auditor
- Lauren Adduci Promoted to Manager
- EV buyers, beware! House GOP bill ends clean vehicle tax credits after 2025
- Nonprofits: Beware of shady investment advisors
- Tucek Attends 2025 AAM Summit
- Mine your nonprofit’s audit report for good suggestions
- Promoting good governance with a board policy
- The importance of defining roles in a nonprofit
- Beneficial ownership information reporting requirements suspended for domestic reporting companies
- Donna A. Hubert Memorial Scholarship 2025 Application Closed
- Disaster victims may qualify for tax relief … including on amended returns
- Nonprofit board members need to watch for financial warning signs
- FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines
- Zabrecky to Present at 2025 Illinois AFL-CIO Financial Reporting Seminars
- Corporate Transparency Act Reporting Requirements Back in Effect with Extended Reporting Deadline; FinCEN Announces Intention to Revise Reporting Rule
- Annual Tax Releases Posted
- Annual Rates & Limits Release Posted
- Legacy Manager Promotions 2025
- Jon Andrews Named Partner at Legacy
- Jody Ingraham Named Partner at Legacy
- Edison Uschold Named Partner at Legacy
- John Kerulis Named Principal at Legacy
- Peter Jurich Named Principal at Legacy
- BOI Reporting Requirements Update
- Beneficial Ownership Information Reporting Requirements Now in Effect, with Deadline Extensions-Update from 12/23/24
- Beneficial Ownership Information (BOI) Report Deadline Approaching
- BOI Notification Letter
- Many businesses must report beneficial ownership information to Treasury by Jan. 1
- Legacy Partners Attend IFEBP Annual Conference
- IRS Releases 2025 Retirement Plan Limits
- Ease the financial pain of natural disasters with tax relief
- Board independence is about more than avoiding conflicts of interest
- Unlock your child’s potential by investing in a 529 plan
- Taxes take center stage in the 2024 presidential campaign
- SECURE 2.0: Which provisions went into effect in 2024?
- 2024 Donna A. Hubert Memorial Scholarship Recipients Announced
- Thinking ahead to your next Form 990
- Michael Tiberi to speak at IFEBP's Accounting and Auditing Institute for Employee Benefit Plans
- Nonprofits: Act thoroughly on audit findings
- Legacy Partners Attend 2024 AICPA Employee Benefits Conference
- IRS extends relief for inherited IRAs
- Tips for Nonprofits to Prevent Fraud
- Dave Zabrecky Presents at the IL AFL-CIO Financial Reporting Seminars
- Independent contractor vs. employee status: The DOL issues new final rule
- In Memoriam-Parey Baranowski
- 6 ways nonprofit retirement plans are changing
- Get ready for the 2023 gift tax return deadline
- If you didn’t contribute to an IRA last year, there’s still time
- Arm your nonprofit against financial threats
- If you gave to charity in 2023, check to see that you have substantiation
- 3 tips for making the financial statement auditing process smoother
- 2024 Tax Calendar
- Winter/Spring Recruiting Schedule Posted
- Third Party Payments of Sick-Pay Release Posted
- Rates & Limits Release Posted
- Legacy Manager Promotions 2024
- 2023 Auto Release Posted
- Businesses: New corporate transparency reporting rules effective 1/1/24
- Reminder: New IRS electronic filing requirements for 2024
- IRS delays new reporting rule for online payment processors
- The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning?
- 5 strategies to cut your company’s 2023 tax bill
- Take action now to reduce your 2023 income tax bill
- Legacy Partners Attend IFEBP Annual Conference
- IRS suspends processing of ERTC claims
- Investment swings: What’s the tax impact?
- IRS issues guidance on new retirement catch-up contribution rules
- Legacy Has Successful Peer Review
- Plan now for year-end gifts with the gift tax annual exclusion
- The IRS warns businesses about Employee Retention Tax Credit scams
- Fall Recruiting Schedule Posted
- Can you deduct student loan interest on your tax return?
- IRS provides transitional relief for RMDs and inherited IRAs
- Changes to Illinois Charitable Audit Requirements
- That email or text from the IRS: It’s a scam!
- Virtual currency lands in the IRS’s crosshairs
- Eileen Brassil & Michael Tiberi attend IFEBP Auditing & Accounting Institute
- Overcoming benchmark resistance in your nonprofit
- Commit to continually improve your nonprofit’s accounting processes
- What’s in the Fiscal Responsibility Act?
- Being a gig worker comes with tax consequences
- Eileen Brassil Presents at MNCPA Employee Benefit Plan Conference
- Retirement Planning Considerations
- Eileen Brassil Presents at the AICPA & CIMA Employee Benefit Plan Conference
- Donna A. Hubert Memorial Scholarship 2023 Application Open
- Paperwork you can toss after filing your tax return
- New IRS e-filing requirements announced
- Nonprofits: four ratios worth watching
- Two important tax deadlines are coming up — and they don’t involve filing your 2022 tax return
- Zabrecky Presents at IL AFL-CIO Financial Reporting Seminar
- Claiming losses on depreciated or worthless stock
- Awarded money in a lawsuit or settlement? It’s only tax-free in certain circumstances
- Passing the public support test
- Child tax credit: The rules keep changing but it’s still valuable
- Ernst and Nesson Promotions Noted in Crain's Chicago Business
- Q&A-2023 Individual Tax Limits
- Retirement plan early withdrawals: Make sure you meet the requirements to avoid a penalty
- Annual Tax Releases Posted
- Tax-saving ways to help pay for college — once your child starts attending
- 2023 tax calendar
- Legacy Receives DiversityJob's Employer Badge
- Rates & Limits Release Posted
- Updated Information about Mailing Tax Payments in IL
- Important Announcement about Mailing Tax Payments in IL
- Randall, Bradway and Bullerman Promoted to Manager
- Christine Ernst Haber Named Partner
- Crystal Nesson Promoted to Principal
- SECURE 2.0 law may make you more secure in retirement
- Year-end spending package tackles retirement planning, conservation easements
- Save for retirement by getting the most out of your 401(k) plan
- Selling stock by year-end? Watch out for the wash sale rule
- Answers to your questions about taking withdrawals from IRAs
- Year-end giving to charity or loved ones
- Strategies for investors to cut taxes as year-end approaches
- How savings bonds are taxed
- Jim Kemperas and Terry Truesdale attend IFEBP Collection Procedures Institute
- Why Nonprofits Might Want to Compensate Board Members
- 2023 Cost-of-living Adjustment Numbers Updated
- Legacy Partners attend IFEBP Annual Conference
- Tax Free Gifting
- What makes charitable donors give?
- How your nonprofit can break bad budget habits
- Clean Vehicle Credit comes with caveats
- The importance of financial dashboards for nonprofits
- IRS offers penalty relief for 2019, 2020 tax years
- The Inflation Reduction Act: what’s in it for you?
- How to share your nonprofit’s values and limit fraud losses
- Estera Piorek Named 2022 Recipient of Donna A. Hubert Memorial Scholarship
- For a stronger nonprofit, increase the number of income streams
- The Inflation Reduction Act includes wide-ranging tax provisions
- Outsourced Accounting Team Update
- How to avoid the early withdrawal tax penalty on IRA distributions
- Businesses: Act now to make the most out of bonus depreciation
- Legacy Wins Best of Accounting Award
- IRS Increases Mileage Rate for Remainder of 2022
- For nonprofits, quid pro quo isn’t a simple exchange
- IRA charitable donations: An alternative to taxable required distributions
- Matching gifts make donations twice as impactful
- Legacy hosts Lewis University Accounting Students
- Why it's important to classify your nonprofit’s workers correctly
- Conflict-of-interest policies
- New tax reporting requirements for payment apps could affect you
- Big, small or in-between: Your nonprofit’s board size is up to you
- Help safeguard your personal information by filing your 2021 tax return early
- DOL Publishes Final Rule to Rescind Form T-1
- David Zabrecky Named Partner at Legacy
- Michael Tiberi Named Partner at Legacy
- A credit card use policy can help prevent abuse
- With year-end approaching, 3 ideas that may help cut your tax bill
- Don’t forget to factor 2022 cost-of-living adjustments into your year-end tax planning
- Remember to use up your flexible spending account money
- Established nonprofits must continue to build and grow
- Businesses must navigate year-end tax planning with new tax laws potentially on the horizon
- The Infrastructure Investment and Jobs Act includes tax-related provisions you’ll want to know about
- Potential tax law changes hang over year-end tax planning for individuals
- Debate continues in Congress over proposed tax changes
- Keep nonprofit board meetings short and sweet
- Selling a home: Will you owe tax on the profit?
- Planning for year-end gifts with the gift tax annual exclusion
- DOL Inspection Results Affirm Legacy's High Standards
- Your nonprofit may have an internal controls gap
- IRS Responsible Party
- IRS issues ERC guidance as Congress mulls early termination
- Scholarships are usually tax free but they may result in taxable income
- 5 possible tax aspects of a parent moving into a nursing home
- SBA streamlines forgiveness for smaller PPP loans
- Nonprofit fundraising: From ad hoc to ongoing
- PPP forgiveness and repayment: What businesses need to know now
- Does your nonprofit owe tax on its sponsorships and advertising?
- Donna A. Hubert Memorial Scholarship 2021 Recipient Announced
- Sales Tax Rate Changes Effective July 1, 2021
- DOL Announces Proposed Rulemaking to Rescind Final Rule on Form T-1
- COBRA Update
- Still have questions after you file your tax return?
- Is a merger in your nonprofit’s post-pandemic plans?
- Do you know the new accounting rules for gifts in kind?
- The Biden administration proposes far-reaching tax overhaul
- President Biden Details His Tax Proposals for Individuals
- Why it’s Important to Meet the Tax Return Filing and Payment Deadlines
- Minimize the Need to Make Year-End Financial Adjustments
- Reduce your Nonprofit’s Liability Risk with D&O Insurance
- DOL Offers Webcast on COBRA Premium Assistance under the American Rescue Plan Act of 2021
- DOL Issues New Cybersecurity Guidance for Benefit Plans
- Protect your Organization’s Fragile Tax-Exempt Status
- PPP Application Deadline Extended
- DOL Says It Will Not Enforce Form T-1; Rescission Expected
- Make the most of the Employee Retention Credit
- Gov. Pritzker Announces Income Tax Filing Extension to May 17 for Illinois
- IRS Extends Tax Deadline to May 17, 2021
- It may be time to tune up your nonprofit’s accounting function
- New Legislation Proposes to Help “Rescue” Nonprofits
- How well do your nonprofit’s development and accounting departments communicate?
- The American Rescue Plan Act provides sweeping relief measures for eligible families and businesses
- Certain provisions of ARPA may be available to Labor Organizations and some Benefit Plans
- The American Rescue Plan Act has passed: What’s in it for you?
- Thomas W. Havey (1922-2021)
- Donna A. Hubert Memorial Scholarship Application Opens April 1
- Illinois—Corporate, Personal Income Taxes: Changes for 2020 Income Tax and 2021 Withholding Tax Returns Discussed
- Indiana—Corporate, Personal Income Taxes: IRC Provisions Not Followed by Indiana Clarified
- Teachers Receive Safe Harbor for Certain COVID-related Expenses
- IRS Highlights Identity Theft Involving Unemployment Benefits
- Annual Tax Releases
- Lost or Missing Participants? The DOL Provides New Guidance
- Client Service Accounting
- Jacob Eklund Named Partner at Legacy
- IRS Highlights Temporary Tax Changes Designed to Help Individuals and Businesses Who Give to Charity
- 2021 Standard Mileage Rates Released
- Reporting Changes for Nonemployee Compensation
- Payroll Tax Deferral: IRS Confirms Employee Payroll Tax Deferral is Optional
- INtax Functionality is Moving to INTIME – September 8
- The Benefits of Payroll Compliance Audits
- Donna A. Hubert Memorial Scholarship 2020 Recipient Announced
- SBA Issues PPP Loan Forgiveness Application
- Application Open for Donna A. Hubert Memorial Scholarship
- Form 990 and Political Form Filing Relief
- Form 5500 Filing and PBGC Premium Payment Relief
- CARES Act Allows Deferring Payment of Certain Payroll Taxes
- CARES Act Provides Emergency Economic Injury Grants
- Employee Retention Credit Under the CARES Act
- Families First Coronavirus Response Act (FFCRA) Summary
- Changes to Estimated Payment Requirements due to COVID-19 – IL
- Tax Relief Due to Coronavirus-Updated 4/3/20
- Applications Now Available for CARES Act Forgivable Loans
- OLMS Issues Update
- Tax Relief Due to Coronavirus
- Final Rule on Form T-1, Trust Annual Report
- Highlights of Further Consolidated Appropriations Act, 2020 (FCAA)
- Amber Stum Promoted to Audit Manager
- Tim Fagan Named Partner at Legacy
- Snow City Arts part of "My Cause My Cleats" at Bears Game
- QuickBooks Users Must Upgrade to Windows 10
- Jacob Eklund, CPA and Chad Randall Awarded Thomas Havey Team Spirit Award
- Legacy Partners Attend IFEBP 65th Annual Employee Benefits Conference
- Jim Kemperas and Terry Truesdale Attend IFEBP Collection Procedures Institute
- Legacy Client Kinsey Robinson Honored with Lifetime Achievement Award
- Indiana Department of Revenue Changes
- Legacy Announces the Donna A. Hubert Memorial Scholarship Fund
- Legacy Submits Comments on Proposed Form T-1
- Legacy Recognized as Member of ICPAS 100% CPA Membership Firm Program
- Understanding the Management Letter
- Legacy Partners Attend AICPA 2019 Employee Benefit Plans Conference
- Quarterly Reporting Changes for Indiana State Unemployment Taxes
- National Labor Relations Board Sets Standards Affecting Beck Objectors
- Parking Expenses Under Qualified Transportation Fringes
- Notice 2018-99 Methodology for Calculating UBI from Parking Lots
- Legacy Partner Eric Wallin Speaks at IFEBP's Institute for Apprenticeship, Training and Education Programs
- Year-End Tax Releases
- 2019 Legacy Promotions
- Brandon Wolber, CPA Named Partner
- Adam Simaga, CPA, CFE Named Partner
- DOL's "Selecting an Auditor for your Employee Benefit Plan" Publication Updated
- Client Spotlight: Uptown People's Law Center
- AICPA Multiemployer Plans Chapter Draft
- Legacy Partners Attend the IFEBP 64th Annual Employee Benefits Conference
- Our Chicago Office Has Moved
- Kristin Kuc Joins Legacy as Talent Coordinator
- IRS Extends Due Date for Employers and Providers to Issue Health Coverage Forms to Individuals in 2018
- 2018 Legacy Promotions
- Terry Truesdale, CFE Named Principal
- Marc Ragona, CFE Named Principal
- Lisa R. Volland, CPA Named Partner
- Tax Prepayments in 2017 and Update on Tax Reform
- Legacy Partners to Attend the IFEBP 63rd Annual Employee Benefits Conference
- Doherty Named to Crain's 2017 List of Most Influential Women Accountants in Chicago
- Farewell Summer Interns
- AICPA Proposes Major Changes to the Auditor's Report
- Legacy Attended 2017 IPPFA Illinois Pension Conference
- Dominican University Student Event
- Public Pension Funds Part Four: Compliance
- Indiana Tax Rates Changes For 2017
- 2017 Legacy Promotions
- Doug Schwegman, CPA Named Partner
- Legacy Partners Attend IFEBP Annual Conference
- Brassil Appointed to AICPA Employee Benefit Plans Expert Panel
- New Filing Deadline for 2016 Forms W-2, W-3, 1096, & 1099-MISC (Box 7)
- Public Pension Funds Part Three: Retirement Funding
- Legacy Attended 2016 IPPFA MidAmerican Pension Conference
- IRS Affirms Data-Driven Decision Making for Audits
- Public Pension Funds Part Two: Retirement and Disability Benefits
- Client in the Spotlight — Chicago Literacy Alliance
- FASB Issues New Guidance on Not-for-Profit Financial Reporting
- DOL Audits
- Clarification to Form 5500 Instructions
- HIPAA Audits – Phase Two
- Legacy Professionals LLP attend Boilermakers 33rd Convention
- Legacy Partners attend AICPA EB Conference
- Crain's, Inside Public Accounting, & Accounting Today announce Cibulka promotion
- Indiana Annual Withholding Reconciliation Form WH-3
- Legacy Announces January 2016 Promotions
- IRS Extends Some Employer ACA Reporting Deadlines
- The Importance of Hiring a Quality Auditor to Perform Your EB Plan Audit
- Tim Cibulka Named Managing Partner at Legacy effective January 1, 2016
- DOL Updates Guidance on Economically Targeted Investments
- Audit Quality Study Results
- Are You Ready for ACA Filing Requirements?
- Legacy Partners Attending IFEBP Annual Employee Benefits Conference
- Legacy Nonprofit Roundtable October 29th
- Legacy Attended IPPFA MidAmerican Pension Conference
- Client in the Spotlight – Chicago Cares
- Charity Auctions
- Credit Card Fraud
- Nonprofits Coming of Age With Social Media Use
- Update from 2015 AICPA Not-For-Profit Industry Conference
- Doherty and Doetsch Attend 2015 AICPA NFP Conference
- Brassil Attends IFEBP Accounting & Auditing Institute
- Tucek attends Association for Accounting Marketing Annual Conference
- FASB Issues Proposed ASU for Not-for-Profits – More info
- FASB issued proposed ASU for NFPs
- Urban Institute Security Breach
- New Form 8922- "Third Party Sick Pay Recap"
- Illinois Income Tax Rate Decrease
- Legacy Announces January 2015 Promotions
- Wallin and Wood Named Partners at Legacy
- Tax Increase Prevention Act of 2014 Summary
- Employees of Legacy Making a Difference
- DOL Issues Guidance on Apprenticeship Plan Expenses – Skills Competitions
- Affordable Care Act Penalties – Be Careful
- Tax Identity Theft
- EBSA on importance of hiring a quality auditor
- Doherty to Serve on Panel at Association Forum Finance SIG
- Timely Remittance of Participant Deferrals
- Unrelated Business Taxable Income (UBTI)
- Brassil to Serve as Co-Presenter for “990 Evolution: Just an Information Return?”
- Baertsch, Brassil, Pavlik, and Wallin to Attend IFEBP’s Annual Employee Benefit Conference
- AICPA Discusses its Enhancing Audit Quality Initiative
- Field Assistance Bulletin No. 2014-01
- Donna A. Hubert, 1957-2014
- Client Spotlight – Working in the Schools (WITS)
- Update on 501(c)(4) Proposed Regulations
- Form 1023-EZ Released
- Minimizing Volunteer Liability Risk
- Nonprofit Guide to Establishing a Gift Acceptance Policy
- Brassil and Wallin Attend IFEBP Accounting and Auditing Institute for EB Plans
- Doherty and Doetsch Attend AICPA Not-for-Profit Industry Conference
- Voiding Checks in QuickBooks
- Tucek inducted into AAM Hall of Fame
- IRS Phishing Scam Warning
- Illinois AFL-CIO Financial Reporting Seminar
- Year End Tax Releases Posted
- Kemperas Named Principal at Legacy
- Legacy Announces Manager Promotions in Chicago and Minneapolis Offices
- New IRS Form 8822-B, Change of Address or Responsible Party – Business
- International Foundation of Employee Benefit Plans Annual Conference
- Affordable Care Act October 1 Deadline
- New Lake County Income Tax
- Treasury and IRS Announce That All Legal Same-Sex Marriages Will Be Recognized For Federal Tax Purposes
- Legacy Professionals LLP Not-For-Profit Roundtable
- New PCORI Fee Due July 31, 2013
- AICPA National Not-for-Profit Industry Conference
- AICPA Employee Benefit Plan Conference
- Illinois CPA Society’s Not-for-Profit Committee Roundtables
- Department of Labor (DOL) to host webinar on Form LM-30 and EFS on April 11
- New Limit on Flexible Spending Account Contributions
- New Disclosure Regarding Employer's Participation in a Multiemployer Plan
- Expiration of FDIC Unlimited Coverage for Noninterest-Bearing Accounts)
- Voluntary Classification Settlement Program (VCSP)
- Union Officers' Responsibilities as Plan Trustees (Prohibited Transactions)
- Auditing Standards Changes Effective This Year
- Changes to Payroll Tax Withholding for 2013
- Legacy Announces Manager Promotions in Chicago Office
- Bastian, Franz, and Thompson Named Partners in Legacy
- Apprenticeship and Training Funds—Getting It Right
- Legacy Supports Defeating Right To Work in Indiana
- Voluntary Classification Settlement Program
- Safeguarding Records
- Bonding Insurance
- Legacy Announces Promotions in Chicago and Minneapolis Offices
- Brassil Named to AICPA's Employee Benefit Plan Audit Quality Center Executive Committee
- T-1 Form Has Been Rescinded
- Changes to Illinois Campaign Disclosure and Contribution Rules
- Small Employers Health Care Tax Credit
- IRS Inflation Adjustments
Team Bios
- Julie S. Tucek
- Robert Tiberi
- David Zabrecky
- Brandon Wolber
- Greg Wallenbecker
- Edison Uschold
- Danielle Tyler
- Terry Truesdale
- Michael Tiberi
- Colin M. Thompson
- Doug Schwegman
- Craig A. Resch
- Crystal Nesson
- Megan Matthys
- Timothy D. Lakis
- John Kerulis
- James Kemperas
- Vincent Guzaldo
- Christopher M. Franz
- Lisa R. Volland
- Timothy M. Fagan
- Peter Jurich
- Jody Ingraham
- Christine Ernst
- Eileen E. Brassil
- Ronald M. Bastian
- Larry Wood
- Adam Simaga
- Renee Berg Speck
- Jon Andrews
- Jacob D. Eklund
- Eric Wallin
- Timothy F. Cibulka
- Eric C. Baertsch