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      February 17, 2019

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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.


Dan McCaleb | Spin machine on full throttle in tax debate

Taxpayers need to see the whole picture and decide for themselves. Illinois' constitution currently requires a flat income tax. Wage earners pay the state 4.95 percent of their income to help fund sta...

Published:  Sun, 17 Feb 2019 06:10:00 GMT

Illinois lawmaker introduces mileage tax pilot program

WSIL -- A Chicago lawmaker wants to fund road repairs by taxing the number of miles you drive. The program State Rep. Marcus Evans is proposing would replace the gas tax with a mileage tax and could r...

Published:  Fri, 15 Feb 2019 15:41:00 GMT

Budget watchdog says Illinois should tax retirement income and cap spending, but Pritzker unlikely to go along

A second public policy organization is calling for Illinois to tax retirement income and expand the sales tax to some consumer services as part of a sweeping plan to fix the state's fiscal woes. The r...

Published:  Tue, 12 Feb 2019 22:14:00 GMT

Dark money-funded groups plan fight over Illinois progressive income tax

Two "dark money" groups are stepping up to separately promote and attack the new governor's agenda. "Think Big Illinois," a brand new 501(c)(4) organization which doesn't have to ...

Published:  Fri, 08 Feb 2019 15:05:00 GMT

Civic Federation says Illinois needs mix of tax hikes, spending cuts

CHICAGO - Illinois could balance its books and begin tackling a $7 billion unpaid bill backlog and $133.7 billion pension burden through a combination of belt tightening, new taxes, and supplemental p...

Published:  Wed, 13 Feb 2019 13:51:00 GMT

Chicago lawmaker proposes Illinois mileage tax

SPRINGFIELD, Ill. (WIFR) --A controversial mileage tax is introduced in the Illinois legislature. The pilot program, sponsored by House Rep. Marcus C. Evans, Jr. (D-Chicago), would impose taxes on a p...

Published:  Fri, 15 Feb 2019 11:01:00 GMT

Illinois Governor Eyes Bond Sale, Tax Hike to Rescue Pensions

(Bloomberg) -- Illinois Governor J.B. Pritzker is considering a broad plan to inject cash into the state's struggling pensions by selling $2 billion of bonds, implementing a progressive income ...

Published:  Thu, 14 Feb 2019 18:15:00 GMT

Will 'Opportunity Zones' pump new private investment into Southern Illinois Officials say it's too soon to tell.

Across Illinois, then-Gov. Bruce Rauner's administration designated 327 tax-favored zones from the roughly 1,300 that qualified. The state's Department of Commerce and Economic Opportunity has ...

Published:  Sun, 17 Feb 2019 06:00:00 GMT

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