With the Chicago City Council's Dec. 2 approval of a $13 minimum wage and the Illinois General Assembly still debating what to do with the state minimum wage, opinions from all sides abound. Some support a higher state uniform minimum wage, some want it even higher in Chicago, some don't want it to go up at all.
The holidays can inspire people to adopt a generous mood. You're thankful for the blessings you've received and want to pay it forward -- and you've also realized charitable giving can lower your taxes, as well.
With 7,000 bodies of government, Illinois leads the nation by a long shot for number of taxing entities. By contrast, Texas ranks second with 5,000.
Illinois' December 2013 pension reform law was deemed unconstitutional Nov. 21 by a Sangamon County Circuit Court judge. The issue is likely headed ...
You can't really blame people for giving up on Congress when every indication is that Congress has given up on us. But I still believe in our democracy and in our nation's ability to come together and solve the tough problems.
On top of the regular cost of buying everyday things, most Illinoisans also have to pay three different sales taxes on top of the price of goods. That's right, three.
Republican Gov.-elect Bruce Rauner will follow in the footsteps of former Illinois Gov. Jim Edgar when he takes control of a state in a fiscal crisis ...
The Freedom From Religion Foundation has sent a letter to the IRS urging them to investigate Ken Ham's Ark Encounter. The letter alleges that Ham has continuously attempted to run a for-profit business behind his non-profit in order to benefit from as many tax breaks and discriminatory practices as possible.
Congress is expected during the lame-duck session to address "tax extenders," a set of tax provisions (mostly for corporations) that policymakers routinely extend for a year or two at a time.
Instead of making a "deal" on deferment and letting the corporations just keep this money they owe us, let's fix this loophole and give most of this tax money to the 242 million adult U.S. residents. What's left over (and there might be a lot -- as much as $215 billion) can be used to fix our infrastructure and other priorities.
There is a fundamental difference between the privacy of banking accounts and hiding beneficial ownership in order to commit crimes. The benefits of tracking organized crime, terrorism financing and tax evasion far outweigh the risks to privacy and secrecy of accounts, which is already adequately protected by rule of law nations.
This Open Enrollment period is sure to be drastically different than the first. Now that the time is here, it is important that all consumers be aware of the improvements, changes, and increased options available to them.
2014 is quickly coming to a close. Before ringing in the New Year, take December to round out some quick and easy tips to lower your tax obligations and even boost your tax refund. And who doesn't want more money?
According to a March report from the Marchex Institute, there are five states whose residents don't swear much and five states whose residents tend to use curse words a lot. Guess which list Illinois is on?
Government financial regulators can collect -- and make public -- better, more detailed data that give us a clearer picture of how our banking and financial system serves (or fails to serve) the needs of all our communities. This sounds wonky and obscure, but remember: We can't fix what we don't know.
Along with personal and corporate income tax rates, the Tax Foundation ranked sales, unemployment insurance and property taxes to determine the overall ranking. Here's how Illinois ranked in each category.