Q: I have a question about a letter I received from my county assessor’s office. I live in Maricopa County, Arizona. The form asks how many people live in our home and what we’re doing with the home. The form also states that if we don’t respond, they will fine us.
Municipal leaders in Illinois are pushing back on a proposal by Gov. J.B. Pritzker that would further reduce state funds given to local governments each year.
New Democratic House Speaker Emanuel “Chris” Welch suggested Wednesday that the state should again ask voters to approve a graduated-rate income tax, but this time target the new money toward paying down Illinois’ massive pension debt.
Gov. J.B. Pritzker on Wednesday presented a slimmer state budget with no income tax increases but a reliance on federal relief from the COVD-19 pandemic, transfers from other funds and elimination of corporate tax breaks.
Gov. J.B. Pritzker needs to be more open with the General Assembly about how he will balance the state's deficit-plagued budget, House Republican leaders said Monday.
Illinois has a nearly $4.9 billion backlog of unpaid bills and $141 billion in unfunded pension liabilities, plus another $4.3 billion in short-term debt. That includes $3.2 billion Illinois borrowed from a special Federal Reserve program to help shore up its past two budgets during the pandemic, money that must be paid back within three years.
Gov. JB Pritzker has no plans to increase state income tax or other taxes to close an anticipated multibillion-dollar budget shortfall in the next fiscal year, the governor's spokeswoman said Tuesday.
Gov. J.B. Pritzker is preparing to present a budget plan would not call for an increase in the flat-rate income tax. He will instead propose closing corporate tax loopholes and redirecting some revenue streams, such as the cigarette tax.
The Illinois Department of Revenue announced that Feb. 12 is also the first day the Internal Revenue Service will begin accepting federal returns.
Illinois’ loss of tax revenue because of the pandemic was much lower than experts predicted in the spring when COVID-19 first took hold, but “tremendous uncertainties” persist moving forward, a University of Illinois study released Tuesday found.
While most states rely heavily on three sources of taxes, many of the lowest-tax states for residents generate tax revenue in ways that do not financially burden those residents in a direct way.
Q: My partner and I plan to purchase a duplex with friends. We would live on one side, and our friends (who already own their forever home) would rent out the other side. Eventually we plan to purchase a home for ourselves and rent out both sides of the duplex.
This is an opinion column from the Herald & Review opinion page.
Pay raises can be hard to come by, especially now. But if you received a big tax refund this year, getting more take-home pay next year could be a matter of filling out a form.
Depending on local tax rates and home values, property taxes can account for a substantial portion of housing costs. Living in a high-tax state has become increasingly more expensive.
TRUMP on his taxes: "They keep talking about $750, which I think is a filing fee. ... Tens of millions of dollars (in income taxes) I prepaid.…
With only two weeks until the election, House Republicans on Monday ramped up their attacks on the proposed constitutional amendment to bring a graduated income tax to Illinois.
Q: Is mortgage interest still deductible on our federal income taxes? Is there something new that I am not aware of? Is there some reason to not have a mortgage that is different from what we’ve always believed?
Trump paid $750 in taxes in 2016 and again in 2017, but paid no tax most years, according to a report Sunday in The New York Times. A lawyer for Trump called the report inaccurate.
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