How much is nature worth? The Forest Preserve District of Cook County is about to find out. The district’s board of commissioners has thrown its support behind a proposal for a ballot referendum that would put a property tax increase for the preserves directly in the hands of voters.
A trove of leaked IRS tax returns analyzed by ProPublica reveals America’s richest billionaires — including Elon Musk and Jeff Bezos — often pay little to no income tax.
Overall, the richest 25 Americans pay less in tax — an average of 15.8% of adjusted gross income — than many ordinary workers do, once you include taxes for Social Security and Medicare, ProPublica found.
A new deal for a facility for electronics maker Foxconn is in its final stages. Crain’s Chicago Business reporter Danny Ecker has details on that story and more.
Two bills in the Illinois General Assembly would expand eligibility for the earned income tax credit. As part of our Firsthand initiative exploring poverty in Chicago, we take a look at the credit, and what it could mean for low-income households.
Low-income residents who are in debt to the state or city won’t have their state tax return used to settle those bills under a plan announced Monday by Mayor Lori Lightfoot and Comptroller Susana Mendoza, who said she was spurred to act because “families on the edge” need their tax returns to cover overdue bills.
With just a month left until the annual tax filing deadline, Attorney General Kwame Raoul is urging Illinoisians to take precautions before hiring a tax preparation business amid consumer complaints.
The Manhattan district attorney’s office enforced a subpoena on Donald Trump’s accounting firm within hours of the Supreme Court’s ruling on Monday and now has the documents in hand, a spokesperson for the office said Thursday.
Illinois voters in November rejected a constitutional amendment that would have allowed the state to overhaul how it taxes income. Now one of Springfield’s top leaders is suggesting another swing at the effort.
The pandemic-era budget proposed Wednesday by Gov. J.B. Pritzker relies heavily on businesses to bring an additional $932 million into state coffers through what the Democrat describes as closing corporate tax loopholes. We get reaction from state lawmakers.
The coronavirus pandemic has wreaked havoc on people’s lives, and also on government budgets. On Wednesday, Gov. J.B. Pritzker will propose his ideas for getting Illinois through it. Here’s a preview of that address.
Gov. J.B. Pritzker told lawmakers Tuesday that he will not propose hiking the state’s income tax on individuals to close the state’s projected $3 billion budget deficit in 2022.
Mag Mile landlords dodge a new tax aimed at revitalizing the shopping strip following this summer’s unrest. Crain’s Chicago Business reporter Danny Ecker has details on this story and more.
Alds. Brendan Reilly (42nd Ward) and Brian Hopkins (2nd Ward) said the effort to create the new taxing district to fund security, attract businesses and spruce up the streets and sidewalks was pushed through too quickly and should not move forward.