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Tag: income taxes

Push begins for state child tax credit for low- and middle-income families

Push begins for state child tax credit for low- and middle-income families

— February 8, 2023

SPRINGFIELD – A group of Democratic lawmakers on Tuesday, Feb. 7 called for creating a state-level child tax credit that would give low- and middle income families up to $700 per…

  • New law, regulations may diminish appeal of certain retirement accounts

    New law, regulations may diminish appeal of certain retirement accounts

    — January 30, 2023

    A new paper from a University of Illinois Urbana-Champaign expert on U.S. tax policy examines changes to inherited retirement accounts such as the 401(k) or the individual retirement…

  • State revenues increased in previous fiscal year

    State revenues increased in previous fiscal year

    — July 7, 2021

    SPRINGFIELD – Revenues flowing into state coffers surged in the fiscal year that ended June 30, spurred largely by an influx of federal funds, the delayed deadline for filing income…

  • Tax summaries show Pritzkers with more than $6M in gross income in 2018

    Tax summaries show Pritzkers with more than $6M in gross income in 2018

    — October 21, 2019

    SPRINGFIELD — Gov. J.B. Pritzker and his wife, M.K. Pritzker, reported more than $6 million in gross income last year, about $5.5 million of which was federally taxable, according…

  • State cites fraud prevention as reason for tax refund delay

    State cites fraud prevention as reason for tax refund delay

    — January 5, 2016

      The Illinois Department of Revenue (IDOR) is announcing that they do not anticipate releasing Individual Income Tax refunds for the 2016 tax season until March 1. The decision…

  • Pritzkers made $5 million last year

    Pritzkers made $5 million last year

    — October 18, 2021

    SPRINGFIELD – Gov. J.B. Pritzker’s campaign released summary documents of his 2020 tax returns Friday, Oct. 15, which showed the first family reporting $5.14 million in adjusted…

  • Tax amnesty program nets more than $60 million more than expected

    Tax amnesty program nets more than $60 million more than expected

    — February 8, 2020

    SPRINGFIELD — A tax amnesty program created during the passage of last year’s state operating budget has brought in nearly $240 million — approximately $60 million more than was…

  • Dold sponsors bill to exempt Olympians’ prize money from federal taxes

    Dold sponsors bill to exempt Olympians’ prize money from federal taxes

    — August 18, 2016

    An Illinois congressman wants to keep the government away from U.S. Olympians’ prize money. U.S. Rep. Bob Dold (R-Dist. 10) is sponsoring legislation that would exempt Olympians and…

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