Important Notice

To ensure compliance with the requirements imposed on us by IRS Circular 230 (31 C.F.R. 10.33 – 10.37, et. Seq.), we inform you that to the extent the information on this page mentions any federal tax matter, it is not intended or written and cannot be used, for the purpose of avoiding Federal Tax penalties.

The information contained in this website is for informational purposes only and is not and does not constitute legal advice on any subject. Receipt of this information does not create an attorney-client relationship. Do not act or refrain from acting based upon this information without seeking your own professional legal counsel.

Sunday, February 27, 2011

No More Recording Corporation Documents

With the availability of Illinois corporate information online at, Public Act 096-1121 has deleted all requirements for filing with your county recorder. This change took effect on January 1, 2011 and it means that documents like Articles of Incorporation and changes in registered agents no longer need to be recorded with your county. If you have any questions, please call my office.

Friday, February 4, 2011

No Free Lunch....., or Tax Returns

This is like buying a car for free, but the motor is extra.

As tax season gets in full swing, we have all noticed those ads for free do it yourself tax return preparation. Turbo Tax, H&R Block and TaxAct all offer free federal filing for the simplest of returns. (usually taxpayers with a W-2 from their employer and nothing else)

Anyone with a more complicated return (like those with itemized deductions, small businesses, securities sales, educational credits, etc.) will not be able to take advantage of the "free" filing.

Even if you have a very simple return, beware! The federal returns are free, but you must pay for the preparation and filing of your state income tax returns. These fees average $27.95 and up.

My advice is to make sure you are aware of your eligibility to use the free filing up front and determine what other costs will be unavoidable.

Wednesday, February 2, 2011

Filing of Certain Tax Returns Delayed Until February 14th

Due to recent tax law changes, the IRS will not accept 2010 personal income tax returns (paper or e-file) until February 14, 2011. According to the IRS, the affected returns are those claiming itemized deductions on Schedule A, the higher education tuition and fees deduction on Form 8917 and the educator expenses deduction. Many taxpayers claim itemized deductions (mortgage interest, property taxes, medical expenses, charitable contributions, etc.), so this affects a large number of filers.

You may still have your tax preparer start on your returns now, but they may not be processed and filed until the 14th. This also delays any refunds until after that date.

If you need someone to do your taxes, why not call me at 847-955-9000.