U of I Tax School

The University of Illinois Tax School provides high-quality, affordable tax education to tax professionals. We are an accredited sponsor of CPE.

[U of I Tax School @uofitaxschool]

USDA's final rule makes significant changes to farm program payment limitations and eligibility beginning with the 2026 program year.

Learn what changed and who may be affected:

https://t.co/2B4ChPyvei

#FarmTax #TaxUpdates

[U of I Tax School @uofitaxschool]

A prior §163(j)(7) election could be costing some clients more than it saves.

Recent law changes may have reduced the election's benefits, and IRS relief is available for certain taxpayers.

https://t.co/4CExatHrXj

#FederalTax #IRSTaxGuidance

[U of I Tax School @uofitaxschool]

Could COVID-era penalty refunds still be available for some taxpayers?

A recent court decision has practitioners taking a fresh look at protective refund claims before a potential July 10, 2026 deadline.

Read more:
https://t.co/yx6N7CaPrQ
#FederalTax #IRSTax #TaxUpdates

[U of I Tax School @uofitaxschool]

Every practitioner eventually has a client they need to let go.

Tax Materials Specialist Kim Tipsord previews an upcoming May 26 blog on client disengagement.

What’s one thing you learned from disengaging from a client?

Join the discussion: https://t.co/YY8KwaBdUS

[U of I Tax School @uofitaxschool]

Succession planning for a tax practice goes beyond finding a buyer.
This blog covers:
• Asset vs. stock sales
• Goodwill allocations
• NIIT and built-in gains tax
• Knowledge transfer during transitions
Read: https://t.co/zKrgpyujPr
#TaxProfessionals #FederalTax #TaxPractice

[U of I Tax School @uofitaxschool]

Instructor auditions are May 28.

We’re looking for experienced tax pros who can present practical topics to other practitioners. Short, virtual, and a great way to get involved.

Details:
https://t.co/uHMYde1vD5

#TaxProfessionals #TaxPractice #TaxUpdates

[U of I Tax School @uofitaxschool]

IRS Notice 2026-24 provides underpayment penalty relief for qualifying farmers filing 2025 returns.

Who qualifies and how it works: https://t.co/mxTPR2YHJV

#TaxUpdates #FarmTax #IRSTax

[U of I Tax School @uofitaxschool]

How you communicate a transition can shape how clients respond.
Part 3 of our succession planning series focuses on client communication and keeping your plan current.
https://t.co/UMZWhfccP4
#TaxPractice #PracticeManagement

[U of I Tax School @uofitaxschool]

Succession planning for tax practices starts with evaluating your firm and identifying potential successors.

This article outlines practical steps for organizing your practice and preparing for transition.

https://t.co/Tw64hOLKOk

#TaxProfessionals #TaxPractice

[U of I Tax School @uofitaxschool]

IRS overtime deduction guidance (2025–2028): what counts as “qualified” OT, what’s excluded, and reporting expectations after 2025. https://t.co/HctgxpX0F2 #TaxUpdates #IRSTax

[U of I Tax School @uofitaxschool]

Trump Accounts’ official site is now live. Taxpayers & practitioners can review details and enroll eligible children via IRS Form 4547 (Trump Account Election(s)).
https://t.co/MlLaXbcVuF
#TaxUpdates #IRSTax #FederalTax

[U of I Tax School @uofitaxschool]

IRS guidance clarifies the qualified overtime compensation deduction — including eligibility, FLSA coverage, deduction limits, and reporting rules for 2025–2026.
https://t.co/HctgxpX0F2
#TaxProfessionals #IRSTax #TaxUpdates #OvertimePay #PayrollTax

[U of I Tax School @uofitaxschool]

Q&A follow-up from the Jan. 22, 2026 Illinois Tax Issues & Updates webinar.

This blog addresses attendee questions on Illinois tax issues.
https://t.co/6TwqOkK8ya

#TaxUpdates #IllinoisTax #StateTax

[U of I Tax School @uofitaxschool]

For more detail and context, here's the full article: https://t.co/0JhXNiuQR2

[U of I Tax School @uofitaxschool]

Paper tax refund checks are being phased out. This short video explains what’s changing and why it matters.

[U of I Tax School @uofitaxschool]

Paper refund checks are being phased out. That shift has real implications for filing season prep and client readiness.

Here’s what tax professionals should address now: https://t.co/bh9M6yBkCe

#TaxPreparers #FilingSeasonPrep #IRSUpdates #TaxPractice

[U of I Tax School @uofitaxschool]

What Tax School readers spent the most time with in 2025:
Our Top 10 most-read blog posts published last year, ranked by total page views.
👉https://t.co/MGHoqBzfGr
#TaxSchool #TaxPros #TaxUpdates

[U of I Tax School @uofitaxschool]

Leadership changes, shutdown aftershocks, and the end of Direct File.
2025 was another year of disruption at the IRS. Our latest blog breaks down what it means for tax professionals in 2026.
Read now: https://t.co/gq8hu9u90d
#IRS #TaxPros #YearInReview

[U of I Tax School @uofitaxschool]

Tip and overtime reporting, new credits, updated forms, and key planning notes for 2026—covered in two hours.
Jan. 28 • 1–3 p.m. CT
https://t.co/AH62tJXfFG
#FilingSeason2026 #TaxUpdates #CPE

[U of I Tax School @uofitaxschool]

Exemptions, credits, PTE apportionment, IL-1040 changes and more—covered in one hour.
Jan. 22 at 10 a.m. CT.
https://t.co/6TwqOkK8ya
#IllinoisTax #TaxUpdates #CPE