George Korbakes & Co., LLP

Tax Alerts

Tax Briefing(s)

2025 Tax Year-in-Review 2025 Year-End Tax Planning One Big Beautiful Bill Act (Signed Into Law July 4, 2025)

IRS Launches New Web Page to Streamline Fraud Reporting and Improve Case Processing (IR 2026-26)
The IRS introduced a new web page designed to streamline and strengthen the reporting of suspected tax fraud, scams, evasion, and related misconduct. The initiative consolidates previously fragmente...

IRS Lists Dirty Dozen Tax Scams for 2026 (IR 2026-30)
The IRS announced its 2026 “Dirty Dozen” list of tax scams warning individuals, businesses and tax professionals about evolving fraud schemes that threaten tax and financial information. The annua...

Treasury Secretary’s Acting IRS Commissioner Role Ends (IR 2026-36)
The Secretary of the Treasury’s service as Acting Commissioner of the Internal Revenue Service ended under the Federal Vacancies Reform Act and the IRS continues operating under existing Treasury ov...

IRS Opens 2026 Tax Filing Season with Enhanced Digital Tools and Faster Refunds (IR 2026-12)
The IRS has announced the opening of the 2026 tax filing season and has begun accepting and processing federal individual income tax returns for the tax year 2025. Additionally, the IRS encouraged tax...

National Taxpayer Advocate Warns of Filing Challenges for 2026 Season (IR 2026-15)
The National Taxpayer Advocate reported, that most individual taxpayers experienced a smooth filing process during the 2025 tax year, but warned that the 2026 filing season may present greater challen...

IRS Offers Tips for Choosing Qualified Tax Return Preparers
IRS has advised individual taxpayers that they remain legally responsible for the accuracy of their federal tax returns, even when using a paid preparer. With most tax documents now issued, the agency...

IL - Kane County increases tax rate beginning July 1
Effective July 1, 2026. the tax rate on retail motor fuel sales in Kane County, Illinois will increase from 5¢ per gallon to 8¢ per gallon. Informational Bulletin FY 2026-20, Illinois Department of ...

Welcome to our website! Feel free to explore our site and learn more about our firm, the financial services and tools we provide to our clients and updates on the most current financial news and the latest tax alerts through our newsletter.

Our firm has been at the forefront in securing our clients' financial information through a Client Axcess portal for storing and sharing files in a secure online area. If you need assistance, go to our links page and view the YouTube video Getting Started with Client Axcess.

We request that all information provided to us be provided through the Client Axcess portal to ensure the security of your personal information.

For payments, please visit the Links section of our site and select Pay Online to submit payment via credit card or E-Check.