NICHOLAS G. VARDALOS & COMPANY, LLC
CERTIFIED PUBLIC ACCOUNTANT
YOUR TRUSTED ADVISOR
Nicholas G. Vardalos & Company is a full service accounting firm serving clients throughout the Chicago metropolitan area, northwest Indiana and southwest Michigan.
Brought to you by the American Institute of CPAs
Founded in 1887, the AICPA represents the CPA profession nationally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the profession’s technical and ethical standards.
The AICPA’s founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.
- IRS amends rules for computing the premium tax credit (December 17, 2024)
- IRS expands online accounts, provides enforcement update (December 16, 2024)
- IRS grants partnerships additional time to furnish complete Forms 8308 (December 13, 2024)
- Engagement quality reviews: What auditors should know (December 9, 2024)
- Federal ruling halts BOI reporting for now (December 5, 2024)
- Regulations address partnership recourse liabilities, related-party rules (December 2, 2024)
- Disproportionate distributions did not terminate corporation’s S status (December 1, 2024)
- IRS again delays effective date of $600 threshold for Form 1099-K reporting (November 26, 2024)
- IRS will accept duplicate dependent returns submitted with an IP PIN (November 21, 2024)
- Number of older Americans who lose $100K to fraud rising rapidly (November 18, 2024)
- Paying taxes (or not) on Social Security benefits (November 15, 2024)
- IRS processing 400K employee retention credit (ERC) claims with about $10 billion in eligibility (November 11, 2024)
- IRS announces 2025 capital gains tax income thresholds (November 7, 2024)
- Why tax deferment isn’t always the answer (November 4, 2024)
- Beware, tax frauds: AI is watching you (November 4, 2024)
- Final regulations modernize process for sale of taxpayers’ property (November 4, 2024)
- NIL organization denied tax-exempt status (November 1, 2024)
- Fraudsters get $47 million from practitioner priority service line scheme (November 1, 2024)
- Annual inflation adjustments announced for tax year 2025 (November 1, 2024)
- IRS to end automatic penalties for late filing of foreign gift, bequest forms (October 29, 2024)
- Annual inflation adjustments announced for tax year 2025 (October 22, 2024)
- IRS processing 400K ERC claims with about $10 billion in eligibility (October 11, 2024)
- Social Security wage base announced for 2025 (October 11, 2024)
- Tax Court imposes penalty in family limited partnership estate case (October 9, 2024)
- Intangible property repatriation rules finalized (October 9, 2024)
- Final regulations target syndicated conservation easement transactions (October 7, 2024)
- Free tax filing expands to 24 states (October 3, 2024)
- IRS provides Helene relief; AICPA seeks BOI, FBAR filing extensions (October 3, 2024)
- Key takeaways from recent tax-related Supreme Court decisions (October 2, 2024)
- IRS increases special per diem rate for business travel (September 23, 2024)
- How Congress might handle estate tax changes (September 18, 2024)
- Final regulations issued on consistent-basis and basis-reporting rules (September 16, 2024)
- Proposed regulations would exclude tribal general welfare benefits from income (September 13, 2024)
- Expect a lower Social Security COLA in 2025 (September 9, 2024)
- IRS seeks comments on SECURE 2.0 saver’s match contributions (September 6, 2024)
- Global tax trends: What CPAs need to know now (September 5, 2024)
- Tax Court lacks jurisdiction because notice of deficiency was invalid (September 1, 2024)
- Fact sheet addresses taxability of crowdfunding distributions (August 30, 2024)
- Social Security changes coming in 2025 (August 29, 2024)
- Why you should stop buying antivirus software (August 26, 2024)
- Potential effects of Loper Bright and Corner Post on tax practitioners (August 22, 2024)
- Employers now have interim guidance on student loans and retirement plans (August 20, 2024)
- What a corporate tax rate hike would mean (August 19, 2024)
- Businesses with dubious ERC claims have another chance with the IRS (August 15, 2024)
- IRS releases updated draft of Form 1099-DA for digital assets (August 13, 2024)
- Advice for avoiding financial fraud in retirement (August 12, 2024)
- ERC disallowance letters go to 28K businesses, moratorium adjusted (August 8, 2024)
- Tax practitioner complaint leads to review of advocate phone service (August 5, 2024)
- Third Circuit rules taxpayer’s claim is not moot (August 1, 2024)
- D.C. Circuit reverses Tax Court on assessment of foreign entity ownership reporting penalties (August 1, 2024)
- What not-for-profits need to know about Unrelated Business Income Tax UBIT (August 1, 2024)
- Senate rejects legislation that would expand child tax credit and restore business tax breaks (August 1, 2024)
- Melancon: Supreme Court decisions are ‘big deal’ for tax pros (August 1, 2024)
- 5 new warning signs of a bad claim for pandemic-era employee retention credit ERC (July 29, 2024)
- Final and proposed regulations issued on retirement plan required minimum distributions RMDs (July 18, 2024)
- Proposed regulations address interest recapture on excess COVID-19 credits (July 3, 2024)
- Final regulations issued for 1% excise tax on corporate stock repurchases (July 2, 2024)
- IRS issues final regulations on reporting requirements for digital assets (July 1, 2024)
- ‘Unconscionable’ delays in ID theft cases mar IRS tax season: report (June 26, 2024)
- Final regulations issued on conservation easement deduction disallowance (June 24, 2024)
- Exceptions to penalty on early retirement plan distributions outlined (June 21, 2024)
- Supreme Court issues narrow opinion upholding Sec. 965 transition tax (June 20, 2024)
- Requirements cover green energy incentive wage and apprenticeship requirements (June 18, 2024)
- IRS moves to end ‘shell game’ of basis-shifting transactions (June 17, 2024)
- IRS gives another limited estimated corporate AMT underpayment waiver (June 13, 2024)
- Supreme Court: Insurance proceeds increase corporation’s estate tax value (June 7, 2024)
- Expert warns: IRS has what it needs to pursue more audits (June 6, 2024)
- Practitioner service improvements part of IRS strategic operating plan (June 1, 2024)
- Bias possible in IRS program for auditing refundable credit returns (May 31, 2024)
- IRS free filing program to become permanent with expanded scope (May 30, 2024)
- Tax planning tips for high-income individuals (May 24, 2024)
- AICPA makes recommendations to IRS on next Priority Guidance Plan (May 24, 2024)
- IRS extends Free File tax program (May 22, 2024)
- IRS warns about more tax scams (May 17, 2024)
- Regulations finalize PTIN fees for tax return preparers (May 14, 2024)
- Health Savings Account (HSA) inflation-adjusted maximum contribution amounts for 2025 announced (May 9, 2024)
- Foreign trust transactions and large gifts addressed in proposed regulations (May 8, 2024)
- Practitioner service improvements part of IRS strategic operating plan (May 3, 2024)
- Automatic accounting method changes list updated by IRS (April 30, 2024)
- Final regulations issued for clean energy credit transfers (April 25, 2024)
- The U.S. Department of Labor (DOL) finalizes broad ‘retirement security rule’ (April 24, 2024)
- Draft of Form 1099-DA for reporting digital asset transactions released (April 23, 2024)
- IRS has mixed results from ‘ghost employer’ enforcement efforts (April 22, 2024)
- IRS waives required withdrawals from certain inherited IRA accounts (April 19, 2024)
- IRS: Cost of businesses fooled by ERC scams still rising (April 16, 2024)
- IRS grants limited waiver for underpayment of estimated corporate AMT (April 15, 2024)
- Dirty Dozen list ends with easements, digital assets, and more (April 12, 2024)
- Proposed regulations issued for 1% excise tax on corporate stock repurchases (April 10, 2024)
- Two home energy rebates not includible in gross income, IRS says (April 8, 2024)
- Supreme Court to decide estate tax impact of life insurance in closely held businesses (April 3, 2024)
- Foreign earned income and housing exclusion denied (April 1, 2024)
- Dirty Dozen list from IRS opens with phishing, smishing scams (March 28, 2024)
- IRS: $1 billion in 2020 tax refunds still unclaimed (March 27, 2024)
- Digital asset playbook: Sec. 6045 reporting requirements (March 21, 2024)
- Taxpayer notice of third-party contact shortened under proposed regulations (March 21, 2024)
- Retirement fears do not play out in reality, survey shows (March 15, 2024)
- Why are there fewer accountants? What the research says (Podcast) (March 7, 2024)
- Federal court holds Corporate Transparency Act unconstitutional (March 5, 2024)
- What kind of deduction is a hobby expense? (March 1, 2024)
- IRS renews focus on targeting high-income nonfilers (February 29, 2024)
- Why you should plan for the 2026 tax season now (February 28, 2024)
- IRS announces delay for Form 1042 e-filing requirement (February 28, 2024)
- IRS chief puts tax evasion tally by the wealthy at $150 billion (February 22, 2024)
- IRS to begin audits of personal, business use of corporate jets (February 21, 2024)
- On Form 1099-K delays, Werfel says IRS must protect taxpayer rights (February 16, 2024)
- 7 warning signs that an ERC claim is questionable, from the IRS (February 13, 2024)
- Electronic Filing Identification Numbers (EFINs) scam targets tax professionals (February 9, 2024)
- Form 1099-K frequently asked questions revised (February 8, 2024)
- Auto depreciation limitations increase (February 7, 2024)
- House OKs $78B tax bill with changes to ERC and child tax credits (February 1, 2024)
- Digital asset question added to more forms for 2023 tax returns (January 26, 2024)
- Beneficial ownership information (BOI) reporting and unauthorized disclosure penalties increased (January 25, 2024)
- Taxes in retirement: From A to Z, deferred to free (January 24, 2024)
- Simpler IRS notices are coming (January 23, 2024)
- Reporting of digital assets as cash delayed until IRS issues regulations (January 17, 2024)
- New bipartisan proposal would boost child tax credit (January 16, 2024)
- IRS enforcement efforts collect $520 million from wealthy taxpayers (January 12, 2024)
- Taxpayer advocate: IRS again fails tax pros with PPS call answer rate (January 10, 2024)
- IRS to begin accepting and processing 2023 tax returns on Jan. 29 (January 9, 2024)
- Stock-based compensation: Tax forms and implications (January 4, 2024)
- Draft form, instructions posted for corporate alternative minimum tax (AMT) (January 3, 2024)