Jeffrey W. Little, CPA

08/14/2026

Will Delete Information Previously Reported by U.S. PersonsWASHINGTON––Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is issuing a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership ...

06/04/2026

We have seen a number of letters coming out of the IRS for a variety of reason, some not making sense. Based on a call to the IRS today, we are finding the implementation of A.I. is not going well and they are quickly becoming aware of many of the issues. So, if you receive a letter, don't panic. Get the letter to the person that prepared your income tax return. If we did not prepare the return, don't call us about your letter. We typically handle these issues free of charge for our clients. The amount of time this is taking has become overwhelming.

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05/28/2026

I don't think we have anyone currently impacted, but please be aware of the triggering of the "Employment of Illinois Workers on Public Works Act" due to the Illinois unemployment rate reaching 5%. A general understanding is that if you contract a job that involves public works projects, 90% of the workers must be Illinois residence. I understand this includes any supervisors, maintenance workers, sub contractors, or repair technicians at the job site. We have not spent time studying the details of this act. Just know that if you are taking on a public works project that you may need to be careful about where your workers, sub contractors, repair technicians, consultants, engineers, and such reside 30 days before, during, and after the project.

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04/15/2026

Another tax season has past. We will be closed April 16th and 17th. Will open again on Monday April 20th.

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04/02/2026

Typical tax season post. If the IRS is in chaos, what do you think is happening in all the private tax offices? It's easy to blame a single person, but know this kind of mess takes a collective effort of Congress, regulators, and courts.

With tax filing ending on April 15, the IRS acknowledged that "many employees may have already filed their returns," raising fears around federal compliance.

03/18/2026

If you are about to enroll in Social Security or Medicare, let me share something I recently learned the hard way. If your Social Security Card has a variation of your name that is not exactly as your name appears on your Birth Certificate, then you are better skipping the online application and schedule an appointment with the local Social Security Office. I tried the online approach and it wasted 49 days to find out that "Jeff" on my SS Card is not the same as "Jeffrey" on my birth certificate. I never thought to look, but this is a big issue. You will need to have an appointment and take your Certified Birth Certificate as well as another form of photo ID to the office.

How does this happen? For my generation, social security cards were not issued at birth as they are today. It appears that I applied for my card when I was age 15, in 1976. I vaguely remember doing this, but I don't recall why. Someone thought I was getting a job, but I started detasseling corn and doing other farm work when I was 12. I remember as I was the youngest person working on the crew. It could have been to get a Driver's License since there was a time that the SSN appeared on the Driver's License. Regardless of the reason, it was an application completed by a 15 year old and a 15 year old doesn't realize the importance of "Legal Names". I know, why didn't my parents do this for me? Well, my parents thought it was best that I learn these things on my own and I count those blessings everyday. You learn by doing and some lessons take 50 years to learn.

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01/30/2026

Taxpayers need to be aware, when tax returns are filed, the IRS wants a bank account. If that return has a refund and no bank account for direct deposit, we are told the procedure at the IRS is as follows: In approximately 30 days the IRS will mail a letter requesting bank information or a reason you can not provide one. You must respond to the letter. No response equates to no refund. Once you respond with a reason for no bank deposit, the process can take several more weeks, if not months, to receive a refund check. You want to make sure you have provided your accountant with up to date bank information. If you provide bad information or no information, there is little we can do. It could be worse if your address changed and you fail to provide the new address. Then you may not receive the letter. We have a questionnaire that covers all these details. Please don't skip over it. It is important.

01/14/2026

For those that have quarterly estimated tax payments, they are Due January 15th. In case you are unaware, the IRS is trying to eliminate the mailing of checks. It is not advisable to pay by mail, but to go online and pay the tax.

01/14/2026

For our clients, we have the Questionnaire and Upload Links working at www.littlecpa.com . If you have a Gmail account, this is very convenient. For those that have used our "Link" portal, it is still available and emails will be sent soon. For the rest of our clients, a client drop box is available outside our office and at the inside counter during office hours. Note the hours have changed to 9:00 am - 4:00 pm M-F. We must have the client questionnaire completed before beginning a return. If you are unable to complete online, tablets and assistance will be available in the lobby during office hours. Thank you.

www.littlecpa.com

Services - Income Tax Planning, Preparation, and Advisors - Currently we are not accepting new clients

11/24/2025

Thanksgiving week, hope everyone has a wonderful week. Our office hours will be limited. Monday 9-3, Tuesday 9-3, Wednesday - Friday closed due to family gatherings. There may be someone present part of the day Wednesday and part of the day Friday, but call (217-452-3260) ahead. It is Thanksgiving, so please give thanks for all you have, enjoy time with your family, and plan accordingly. We will be back in full force next week. Thank you.