NYM Bookkeeping & Tax Prep LLC

07/16/2026

https://www.irs.gov/newsroom/irs-sets-2026-business-standard-mileage-rate-at-725-cents-per-mile-up-25-cents

IR-2025-128, Dec. 29, 2025 — The Internal Revenue Service today announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents in 2026.

03/22/2025

Beneficial Ownership Information Reporting

[Updated March 21, 2025] All entities created in the United States — including those previously known as “domestic reporting companies” — and their beneficial owners are now exempt from the requirement to report beneficial ownership information (BOI) to FinCEN. Existing foreign companies that must report their beneficial ownership information have at least an additional 30 days from the date of publication of the interim final rule. For more information, see press release and alert.

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01/04/2025

Liberty Tax is coming to Pekin Illinois!!!!!!!!

11/22/2024

Upcoming Sales Tax Changes!

Informational Bulletin FY2025-12, Sales Tax Rate Change Summary, Effective January 1, 2025

06/15/2024

Important Notice: IRS Glitch Affecting Tax Payment Notices

June 12, 2024

The IRS is aware that some taxpayers are receiving CP14 (Balance Due, No Math Error) notices indicating a balance due even though payments were made with their 2023 tax return.

Who is affected: Taxpayers who paid electronically or by check with their 2023 tax return, may show their accounts as pending, although the IRS has received and processed payment through their banking institution. The notice may have been initiated before the payment was processed on the account, or the payment may have been processed but contained errors and requires additional handling to address the error before updating the tax account.

No immediate action or phone call needed: Taxpayers who receive a notice but paid the tax they owed in full and on time, electronically or by check, should not respond to the notice at this time. The IRS is researching the matter and will provide an update as soon as possible.

Note that any assessed penalties and interest will be automatically adjusted when the payment(s) are applied correctly by the IRS.

Taxpayers who paid only part of the tax reported due on their 2023 return should pay the remaining balance or follow instructions on the notice to enter into an installment agreement or request additional collection alternatives.

For affected taxpayers, the IRS apologizes for the inconvenience this delay in processing your payment has caused.

June 12, 2024 — The IRS is aware that some taxpayers are receiving CP14 (Balance Due, No Math Error) notices indicating a balance due even though payments were made with their 2023 tax return.

06/10/2024

Please note our offices are closed June 10 to June 14th. We will resume normal business hours on Monday June 17th. Email will be checked but is limited. Please leave us a message if and we will return your call on June 17th. Elmwood office 309-742-6989 (Normal business hours 8-1pm M T TH F) or Bartonville office 309-713-1574 ( Normal business hours 8-1 M-F) Thank you and have a great summer!

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01/22/2024

Due to weather- all offices are closed today
Elmwood, Bartonville, Princeton,
& East Peoria - Thank you and stay safe!

01/21/2024

IR-2024-04, Jan. 8, 2024 — The Internal Revenue Service today announced Monday, Jan. 29, 2024, as the official start date of the nation’s 2024 tax season when the agency will begin accepting and processing 2023 tax returns.

01/21/2024

Great video on Married filing joint vs married filing separately!!! MFJ 1. MFS 0

1086 likes, 47 comments. “Replying to Does married filing joint or married filing separate give you a bigger refund? what's the best way to file taxes?”

01/18/2024

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