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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 Post-Filing Season UpdateSECURE Act 2.02021 Tax Year-In-Review
2023 Health Savings Account Inflation Adjustments Released, Rev. Proc. 2022-24
The IRS has released the 2023 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2023, the annual limitation on deductions under Code Sec. 223(b)(2) for a...
2022 Allowable Living Expense Standards Provided
The IRS has updated its website to provide the Allowable Living Expense (ALE) standards for 2022. These standards are used to help determine a taxpayer's ability to pay a delinquent tax liability. ALE...
U.S. Bans Accounting Services to Russia
The Treasury Department announced on May 8, 2022, that the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, ...
2022 Marginal Production Percentage Depletion Rates Announced, Notice 2022-24
The IRS has announced the applicable percentage under Code Sec. 613A to be used in determining percentage depletion for marginal properties for the 2022 calendar year. Code Sec. 613A(c)(6)(C) defi...
GAO Examines Federal COVID-19 Response, GAO-22-105397
The Government Accountability Office (GAO) has issued a report examining the federal government’s continued efforts to respond to and recover from the COVID-19 pandemic. In conducting its examinatio...
FAQs for Payment by Indian Tribal Governments and Alaska Native Corporations to Individuals Finalized, FS-2022-23; IR-2022-68
The IRS has issued final frequently asked questions (FAQs) for payments by Indian Tribal Governments and Alaska Native Corporations to individuals under COVID- Relief Legislation. These reflect update...
IRS Reminds Tax-Exempt Organizations about May 16 Filing Deadline, IR-2022-93
The IRS reminded tax-exempt organizations about the May 16, 2022, filing deadline for many of them. Those tax-exempt organizations that operate on a calendar-year basis have to file the following retu...
IL - Final boone county multiplier announced for 2021
The final Boone County equalization factor (multiplier) for Illinois property tax purposes has been set for 2021 at 1.0000. The final 2020 multiplier was also 1.0000. Release, Illinois Department of ...
MI - Qualified heavy equipment rental tax authorized
Michigan has enacted the "qualified heavy equipment rental personal property specific tax act." Beginning January 1, 2023, a 2% tax is imposed on each transaction of a qualified renter for renting q...
MN - No more sales tax June accelerated payments
Minnesota Department of Revenue reminds taxpayers that the June accelerated payment for sales and use tax has ended due to a 2021 law change. The taxpayers must file and pay their June 2022 sales and ...
WI - Exemption enacted for restaurant revitalization grants
Wisconsin enacted an exemption for income received in the form of grants from the restaurant revitalization fund under the federal American Rescue Plan Act. In addition, otherwise deductible amounts t...

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