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AICPA Applauds Passage Of Tax Administration Bills In The House
The American Institute of CPAs in a March 31 letter to House of Representatives voiced its “strong support” for a series of tax administration bills passed in recent days....
Value Claimed on Tax Return Exceeded Valuation of Easement; Liable for Misstatement Penalty (Ranch Springs, LLC, TC)
The Tax Court ruled that the value claimed on a taxpayer’s return exceeded the value of a conversation easement by 7,694 percent. The taxpayer was a limited liability company, classified as a TEFRA ...
Population Figures Provided for Calculating Low-Income Housing Tax Credits (Notice 2025-18)
State and local housing credit agencies that allocate low-income housing tax credits and states and other issuers of tax-exempt private activity bonds have been provided with a listing of the proper p...
QTIP Value Includible in Gross Estate Not Reduced by Settlement (Kalikow Est., CA-2)
The value of assets of a qualified terminable interest property (QTIP) trust includible in a decedent's gross estate was not reduced by the amount of a settlement intended to compensate the decedent f...
Individual Not Entitled to Forfeiture Loss Deduction for Public Policy Reasons (Hampton, TCM)
An individual was not entitled to deduct flowthrough loss from the forfeiture of his S Corporation’s portion of funds seized by the U.S. Marshals Service for public policy reasons. The taxpayer plea...
AICPA Applauds Passage Of Tax Administration Bills In The House
The American Institute of CPAs in a March 31 letter to House of Representatives voiced its “strong support” for a series of tax administration bills passed in recent days....
Value Claimed on Tax Return Exceeded Valuation of Easement; Liable for Misstatement Penalty (Ranch Springs, LLC, TC)
The Tax Court ruled that the value claimed on a taxpayer’s return exceeded the value of a conversation easement by 7,694 percent. The taxpayer was a limited liability company, classified as a TEFRA ...
Population Figures Provided for Calculating Low-Income Housing Tax Credits (Notice 2025-18)
State and local housing credit agencies that allocate low-income housing tax credits and states and other issuers of tax-exempt private activity bonds have been provided with a listing of the proper p...
QTIP Value Includible in Gross Estate Not Reduced by Settlement (Kalikow Est., CA-2)
The value of assets of a qualified terminable interest property (QTIP) trust includible in a decedent's gross estate was not reduced by the amount of a settlement intended to compensate the decedent f...
Individual Not Entitled to Forfeiture Loss Deduction for Public Policy Reasons (Hampton, TCM)
An individual was not entitled to deduct flowthrough loss from the forfeiture of his S Corporation’s portion of funds seized by the U.S. Marshals Service for public policy reasons. The taxpayer plea...

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Watler Accounting began its professional practice in 1917.  We believe in the value of relationships.  We view every client relationship like a partnership, and truly believe our success is a result of your success.  We are committed to providing close, personal attention to you, our clients, and we believe our new Bloomington office space will provide us with a greater opportunity to serve you. 

OFF - SEASON HOURS OF OPERATION
Beginning May 1st, all of our locations will be open Monday - Friday from 8:00am - 4:00pm. We will close for lunch from 12:00 - 12:30.  We would like to thank all of our clients for their business as well as their understanding through this past tax season as we grieved the passing of Uba.  We appreciate everyone's kind thoughts and prayers through this difficult time.

Clients are welcome to use our secure file share to safely upload documents that would normally be delivered in person.  If you would like to use our secure file share, please click on this link: 

File Share (cchwebsites.com)