Alert: A Massive New FinCEN Filing Requirement Is Coming

Do you own a corporation, limited liability company (LLC), limited partnership, limited liability partnership, limited liability limited partnership, or business trust? Or are you planning to form one of these entities? If so, be alert. There’s a new federal filing requirement coming. Back in 2021, Congress passed a new law called the Corporate Transparency Act […]

IRS increases mileage rate for remainder of 2022

WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes. For the final 6 months of 2022, the standard […]

New Wisconsin Tax Laws Affect 2020 Wisconsin Tax Returns

On February 18, 2021, Governor Tony Evers signed 2021 Wisconsin Acts 1 and 2, which provide the following significant changes for 2020 Wisconsin income/franchise tax returns. The tax form instructions are being updated and more information will be published next week in Wisconsin Tax Bulletin 212. Earned Income Tax Credit Wisconsin adopted section 211 of […]

Good News If Your PPP Loan Is for $50,000 or Less

As you likely know by now, the Paycheck Protection Program (PPP) loan and its forgiveness process have been an ever-changing (and often confusing) ride so far. With the new rules for PPP loans of $50,000 or less, you escape the most difficult part of the loan forgiveness if you had to consider employees. And you […]