News

What’s Happening at Our Company?

Welcome to our newsroom, where you can read the latest stories about Mowery & Schoenfeld and our team members.

We are excited to announce that the National Academy of Public Accounting Professionals (NAPAP) has selected our very own Jeff Mowery as one of the 2015 "Top 10 Public Accounting Professionals" in Illinois! "We are very pleased to recognize Mr. Mowery, whose expertise, leadership, and outstanding accomplishments in the field of public accounting have earned him this significant honor," says Paul...
Mowery & Schoenfeld co-founders, Jeff Mowery and Keith Schoenfeld, were inducted into the 2014 Chicago Area Entrepreneurship Hall of Fame. This award, given by the University of Illinois at Chicago Institute for Entrepreneurial Studies, recognizes distinguished entrepreneurs who have founded and grown successful, innovative businesses. Mowery & Schoenfeld, LLC, established in 1996, is a...
Mowery & Schoenfeld acquired the practice of Helen M. Wydra, CPA, in Park Ridge, Illinois, effective October 1, 2014. The combined practice will operate as Mowery & Schoenfeld from the firm's Lincolnshire office. This is the fourth merger/acquisition transaction for Mowery & Schoenfeld in the last five years. "Our merger and acquisition activity permits us to increase our capacity and...
Mowery & Schoenfeld was recently named one of the 2014 Fastest Growing Firms in the nation by INSIDE Public Accounting (IPA). Each year IPA chooses to recognize firms that are growing organically - through solid business development efforts, niche development, new service offerings and finding more services to provide current clients. Mowery & Schoenfeld ranked 7th in the top 10 list of...
Mowery & Schoenfeld was recently named as one of the 2014 Accounting Today's Best Accounting Firms to Work for. This is the fourth year in a row Mowery & Schoenfeld has received this honor! This survey and awards program is designed to identify, recognize and honor the best employers in the accounting industry, benefiting the industry's economy, workforce and businesses. The list is made...
An estate tax return is required to be filed within nine months (unless extended) of a decedent's date of death in order to elect portability and preserve their lifetime exclusion for use by a surviving spouse. The Revenue Procedure 2014-18, effective Jan. 27, 2014, offers an automatic extension of time to file an estate tax return (Form 706) to elect portability to certain taxpayers. This is...
If for any reason you've delayed voluntary disclosure of foreign bank accounts and financial assets, the time to act is now. The Internal Revenue Service (IRS) recently announced changes to the offshore voluntary disclosure program (OVDP) to encourage more participation and possibly reduce exposure for some noncompliant taxpayers. For example, penalties may be reduced from 27.5% to between 0% and...
The IRS issued long-awaited Regulations on the tax treatment of amounts paid to acquire, produce, or improve tangible property. The Regulations explain when payments can be deducted, which payments confer an immediate tax benefit, and when payments must be capitalized. This notification summarizes important changes in the federal law that will affect every business. The Regulations must be...