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The Tax Cuts and Jobs Act of 2017 lowered individual income tax rates, boosted standard deductions and eliminated personal exemptions, among other changes. However, the Trump tax cuts are due to...
To reverse Illinois’ economic doldrums, Halbrook said the state must address high property taxes, lower personal and corporate income taxes, and simplify the state's tax code.
Illinois will end a statewide grocery tax while giving cities the option of replacing it with a local tax or doing without the revenue.
Tax protesters in the United States advance a number of administrative arguments asserting that the assessment and collection of the federal income tax violates regulations enacted by responsible agencies –primarily the Internal Revenue Service (IRS)– tasked with carrying out the statutes enacted by the United States Congress and signed into law by the President.
Created in 2012, the Tribunal is an administrative law forum of original jurisdiction for the adjudication of cases that involve determinations made by the Illinois Department of Revenue. These determinations may include notices of tax liability, and many of the cases heard by the Tribunal are appeals launched by taxpayers. There is a filing fee.
For example, if your tax return is due April 15, but that date falls on a Saturday, then your tax return due date is forwarded to the first business day following April 15, or Monday, April 17. However, if a deadline falls on a Sunday, the requirements for the exchange must be met no later than the last business day prior to the deadline date ...
As a result, some provisions of the 2017 tax reform package, such as the SALT cap are set to expire at the end of 2025, which could reduce federal revenue by $139 billion, per the nonpartisan ...
The proposed amendment adds a new Section to the Revenue Article of the Illinois Constitution that provides revenue generated from transportation related taxes and fees (referred to as “transportation funds”) shall be used exclusively for transportation related purposes.
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