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Welcome From Uphill CPA Firm, S.C.
Click on "Newsletters" for important reminders and year end tax information
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Tax Alerts
Tax Briefing(s)
2022 Tax Year-In-ReviewConsolidated Appropriations Act, 2023Inflation Reduction Act of 2022, Signed Aug. 16
Inflation Reduction Act Triggers Numerous Tax Form Changes
The passage of the Inflation Reduction Act in 2022 has triggered changes to many tax forms, tax form instructions, and other publications prior to the start of the 2023 tax filing season.According to ...
IRS Reminds Taxpayers to Check Tax Withholding Now to Avoid Paying Future Quarterly Estimated Payments, FS-2023-1; IR-2023-10
The IRS reminded taxpayers who earn wages to use the Tax Withholding Estimator tool to adjust their 2023 withholding. Checking now and making necessary adjustments early in the year may help taxpaye...
2023 Standard Mileage Rates Released, Notice 2023-3
The IRS released the optional standard mileage rates for 2023. Most taxpayers may use these rates to compute deductible costs of operating vehicles for business, medical, and charitable purposes. Some...
FAQs Released on Energy Efficient Home Improvements and Residential Clean Energy Property Credits, FS-2022-40
The IRS has released frequently asked questions (FAQs) about energy efficient home improvements and residential clean energy property credits. The Inflation Reduction Act of 2022 (IRA) amended the cre...
IRS, DOL Renew Employee Misclassification Memorandum of Understanding
The Internal Revenue Service and the U.S. Department of Labor announced they have renewed a memorandum of understanding (MOU) under which the two agencies will continue to work together to combat empl...
Transitional Guidance on Broker Digital Asset Reporting Provided, Announcement 2023-2
The Treasury Department and IRS have announced that brokers are not required to report additional information with respect to dispositions of digital assets until final regulations are issued under C...
IRS Completes Final Corrections on 2020 Unemployment Compensation Tax Payments, IR-2023-2
The IRS recently completed the final corrections of tax year 2020 accounts for taxpayers who overpaid their taxes on unemployment compensation received in 2020. This resulted in nearly 12 million ...
IL - Forms W-2, W-2c, W-2G, and 1099 filing and storage requirements updated
Illinois updated its personal income tax withholding publication on Forms W-2, W-2c, W-2G, and 1099 filing and storage requirements, including 1099-K electronic filing requirements, for employers and ...
MI - Taxpayer could not carry forward losses calculated under MBT to return filed under CIT
A corporate taxpayer transitioning from the Michigan business tax (MBT) to the corporate income tax (CIT) for tax year 2019 could not carry forward prior losses calculated and submitted under the MBT ...
MN - Taxability of post-9/11 veteran service bonus discussed
Minnesota issued guidance stating that the distribution of the Post-9/11 Veteran Service Bonus by the Minnesota Department of Veterans Affairs is not subject to Minnesota personal income tax, but that...
WI - Tax treatment of military personnel and veterans discussed
Wisconsin issued a personal income tax publication providing information on the state's tax treatment of income, deductions, and credits available for military personnel and veterans. The publication ...

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