More than half of state tax dollars go to fund education and health care. State tax dollars also fund other critical services such as transportation, corrections, public assistance, care for residents with disabilities, police, state parks, and general aid to local governments.
There are only a few days left before your federal and Illinois state tax returns are due. They must be e-filed or postmarked before midnight Tuesday,...
If you feel like you are paying too much this year to Uncle Sam, remember. The issue isn't what you are paying, but what those taxes buy you. And until we are willing to tame the $700 billion budgetary gorilla, you won't ever get much value for your hard-earned money.
I hate tax season. When I was young and single, living in an apartment, it wasn't very complicated, just another pain in the butt thing that I never wanted to do. When I was married, it was worse. My ex-wife would start asking about it on January 2nd, disregarding the fact that neither of us had received any of the necessary documents yet.
We keep hearing that if corporations have to pay more taxes, the economy will suffer, because they won't hire more workers. Well, if you hadn't noticed, for the last five years they've hardly been on a hiring spree.
Abraham Lincoln once said, "You cannot escape the responsibility of tomorrow by evading it today." Following these tips can help you conquer the panic today of tomorrow's tax-filing responsibility while simultaneously building your nest egg and driving increased retirement readiness.
Full disclosure: I've benefitted from that provision of the tax code for most of my career in ordained ministry. But I think Judge Crabb is right. What's more, I think the clergy housing allowance is a bad idea for churches.
Is there an inflation issue in the US? People are always talking about prices going up. We see it and feel it in prices every day. Yet, when we hear or read about the latest inflation numbers, they are always low. We feel inflation but it is not reflected in the numbers.
Owing the IRS can be a costly matter, but it is completely manageable if you take care of it and don't ignore it.
There's just something about doing our taxes that makes many of us revert to slacker college student mode, waiting till the last minute to throw together that report we've known about for months. But there is hope.
So the worst has happened after calculating your tax return: you owe money in taxes this year. Is there a way to make lemonade out of the grand experi...
On December 31, 2013, the tax exemption for mortgage debt forgiveness expired, leaving financially struggling homeowners with a big return to file.
Future generations will thank us for taking this step before it's too late.
Many straight couples file their taxes under the burden of the "Marriage Penalty" and now same-sex couples -- like myself and my wife -- find ourselves in the same boat. We will be paying more taxes, and enjoying the resulting equality, with pride.
I know it does not bode well that at 24 I am this jaded about the political process. I have had enough of politicians not listening to me and the rest of us while they continue to act as they please.
It's pretty simple: If you don't pay your taxes, the IRS can file a notice of federal tax lien with the credit bureaus, and that's a huge negative on your credit reports.