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Tax Relief in Illinois

Illinois residents face some of the most difficult tax burdens in the nation, as the state legislature regularly threatens to raise taxes to cover its infamous budget shortfalls. This puts more pressure on the average Illinoisan who may already be struggling to meet his or her tax responsibilities, and who is unaware of the existence of tax relief strategies.

Illinois ranks 10th highest in the United States when considering federal income taxes paid: $12,737 is the average amount paid by Illinois residents, more than $1000 higher than the national average. Illinois' relatively low, flat-rate state income tax of 5% does little to offset the considerably high federal tax burden.

The state has also seen a decline of more than 11% in the median income of its population, which is now approximately $57,196. High unemployment rates, unexpected medical bills, and poor financial decisions have led to a growing number of Illinois residents who are delinquent in meeting their tax obligations. When faced with the choice of feeding their families - or keeping the lights on, the roof over their heads, or clothing on their backs - or setting aside money to pay their tax bills for the year, it is understandable that many choose to meet the more immediate needs rather than putting funds into savings for taxes.

Tax relief companies are often an effective solution to help people manage the stress of owing state and federal taxes and eliminate the possibility of having wages garnished or assets seized. Such tax relief experts work with their client's tax responsibilities and may even be able to help them reduce their overall tax debt. There are a number of tools available through the use of tax relief services, such as validation of tax debt, tax return review and amendment, and setting up payment plans for tax debt.


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Tax Relief In The News

Property tax relief alternative would increase sales tax

On Day 6 of the 2018 Legislature's 90-day session, its tax reform battle lines began to take shape. A comprehensive tax reform package that would hike the state sales tax rate by one-half cent ...

Published:  Wed, 16 Jan 2019 12:00:00 GMT

Senate Republicans propose tax relief with marijuana revenue

Revenue from the potential legalization of marijuana in New York would be committed to tax relief in a plan unveiled on Tuesday morning by Senate Republicans. The "Real Solutions" agenda ...

Published:  Tue, 15 Jan 2019 07:50:00 GMT

IRS Offers Some Penalty Relief For Taxpayers Who Didn't Withhold Enough In 2018

To ease the burden on taxpayers, the Internal Revenue Service (IRS) has advised that penalty relief may be available. While we joke about writing big checks on Tax Day, taxpayers typically pay their t...

Published:  Wed, 16 Jan 2019 13:23:00 GMT

COLUMN: Property tax relief Don't count on it

Meaningful property tax relief has little chance in the upcoming session of Nebraska's Legislature. What that says about representative democracy in our state is less clear. If we know only one thing ...

Published:  Wed, 16 Jan 2019 00:00:00 GMT

Ricketts focuses on property tax relief, frugal government

Gov. Pete Ricketts this week zeroed in on additional property tax relief and new workforce development initiatives along with the need to continue to adhere to a frugal state budget as he outlined ...

Published:  Wed, 16 Jan 2019 07:52:00 GMT

Ricketts: Property tax relief key goal for 2019

Tax relief was a highlight of Gov. Pete Ricketts' State of the State address during a visit to Grand Island Tuesday. After addressing the state Legislature in Lincoln, Ricketts toured the state, with ...

Published:  Tue, 15 Jan 2019 23:19:00 GMT

Seaboard Corp. makes exclusive appeal to Kansas Senate for tax relief

An executive with agriculture and transportation giant Seaboard Corp. said Wednesday investment in Kansas jobs could be at stake if the Legislature declined to change state tax law to accommodate comp...

Published:  Wed, 16 Jan 2019 11:55:00 GMT

Gov. Ricketts calls for constitutional amendment to limit growth in local property tax revenues

"Property tax relief is the No. 1 priority Nebraskans want as I travel the state," he told lawmakers in his annual State of the State speech. The proposal would fully fund state aid to schools at a co...

Published:  Tue, 15 Jan 2019 12:36:00 GMT

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