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      September 24, 2018

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Tax Relief in Illinois

Illinois MapIllinois 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.

 

Fact-check: Slow down, Bruce Rauner - Pritzker is not planning new "˜mileage tax'

The 30-second spot features a woman identified as Denise Smith who describes herself as a lifelong Illinoisan who says she may leave Illinois if Pritzker is elected because of his tax policies.

Published:  Sun, 23 Sep 2018 10:00:00 GMT



Do tax credits bring jobs Not in Illinois.

Illinois politicians will be the first to tell you the state needs all the revenue it can get. Yet from 1999 through 2017, they issued $1.65 billion in tax credits to major companies across the state. ...

Published:  Fri, 21 Sep 2018 12:15:00 GMT



Illinois Governor Hopefuls Clash on Taxes, 'Lies' at Debate

CHICAGO (AP) - Republican Gov. Bruce Rauner on Thursday accused rival J.B. Pritzker of plotting a massive income tax hike on the people of Illinois, a claim the Democrat dismissed as another lie from ...

Published:  Thu, 20 Sep 2018 19:36:00 GMT



Your taxes: Rauner vs. Pritzker's empty chair

Gov. Bruce Rauner scorns J.B. Pritzker's call for a progressive income tax in Illinois. Pritzker, running to oust Rauner, evidently thinks last year's 32 percent hike in the personal income tax rate d...

Published:  Fri, 14 Sep 2018 12:56:00 GMT



Ralph Martire | Illinois should adopt graduated income tax

Whether Illinois should adopt a graduated rate income tax has emerged as a core issue in the current gubernatorial campaign. This is a legitimate policy question that merits serious consideration by o...

Published:  Sun, 23 Sep 2018 07:55:00 GMT



Taxes, toilets and trust liven first debate in Illinois governor race

Gov. Bruce Rauner framed his re-election battle as a fight against taxes and corruption and dubbed third-party candidate State Sen. Sam McCann "phony," while Democrat J.B. Pritzker kept up a ...

Published:  Thu, 20 Sep 2018 19:04:00 GMT



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