Abacus Tax & Accounting - Trisha Harrison CPA

03/31/2026

There’s only a couple weeks left before the tax deadline! Make sure to schedule an appointment this week to avoid the last minute rush. Don’t miss your chance to be entered into our end of season giveaway - get those appointments scheduled now!

02/09/2026

Tax Season Has Begun!

There are many new tax laws this year. Don’t miss out on any deductions. Benefit from expert help and personalized service at Abacus Tax & Accounting.

📅 Appointments are filling fast—so don’t wait. Call today!

🎁 Bonus: Every return = a chance to win in our annual end-of-season drawing!

01/01/2026

The IRS has begun phasing out paper checks. Make sure to have your direct deposit information available for your tax appointment! See you soon!

A little preparation goes a long way, especially when it comes to tax filing. One thing you can do now to make filing season easier: Find your direct deposit information. If you don't have a bank account, you have a few options you can plan ahead for. Things like prepaid debit cards, digital wallets or mobile apps support direct deposit.

Get ready for the filing season at https://ow.ly/ONTT50XKBJ5.

10/18/2025

Be cautious of information you see on social media. Reach out to us at 815-664-3290 for accurate information instead.

IR-2025-90, Sept. 8, 2025 — The Internal Revenue Service is alerting taxpayers about a growing number of fraudulent tax schemes circulating on social media that promote the misuse of credits such as the Fuel Tax Credit and the Sick and Family Leave Credit.

09/29/2025

Just one week until Illinois Tax Amnesty begins. Mark your calendar for Oct. 1!
🔗 tax.illinois.gov/taxamnesty

09/12/2025

The has assessed more than $162 million in penalties over false tax credit claims linked to fraudulent tax advice promoted on social media.

Read the agency’s alert: https://ow.ly/kbSS50WTrjw

09/02/2025

New Tax Break for Tipped Workers? Here's What You Need to Know!

Tips are still considered taxable income under U.S. tax law — BUT there’s exciting news:
Under the new federal tax law, you may be able to deduct up to $25,000 in tip income from your taxable income!

Here’s the breakdown:
* Applies only to voluntary tips (mandatory service charges don’t count)
* You must still report all tips (W-2, 1099, etc.)
* You must work in an industry where tipping is customary
* Deduction phases out at higher income levels
* Self-employed? You may qualify too, as long as tips don’t exceed your business’s net income (but you’ll still owe self-employment tax)

The IRS is expected to release a full list of eligible jobs by October 2, 2025.

This isn’t a full exemption — but it could mean real tax savings for many workers in the service and hospitality industries.

Call us for a personalized review of your tax situation. Or tag a friend who works for tips!

08/18/2025

Want to know the scoop on tax-free overtime? A new tax deduction DOES apply to overtime, but there are some major caveats. Here are the facts:

✅ Only up to $12,500 of overtime per year is exempt ($25,000 if you're married filing jointly).
✅ It only applies to regular 1.5x pay under FSLA rules — not bonuses or double-time.
✅ Your employer must report the overtime separately.
❌ If your income hits $150,000+ ($300,000+ for joint filers), the benefit phases out.
❌ If you file as Married Filing Separately — sorry, no exemption at all.

Bottom line? This could be a helpful tax break — or it could leave you with a surprise tax bill if you don’t withhold enough.

Call us today at 815-664-3290 to setup a personalized review of your tax situation while planning opportunities remain.