A press release from State Rep. Allen Skillicorn: Skillicorn Seeks Constitutional Amendment to Protect Retirement Income SPRINGFIELD – State Representative Allen Skillicorn (R-East Dundee) has filed House Joint Resolution Constitutional Amendment 14 to protect Illinois retirees from another tax increase. … Continue reading
Category Archives: Income Tax
The Daily Line touches on a subject that comes up once in a while, that of whether a politician can take money from his or her Political Action Committee when he or she retires. As the years go by, the … Continue reading
Starting from no name identification in McHenry County, State Senator Don DeWitte, appointed to replace retired State Senator Karen McConnaughay, had an uphill battle to beat Democrat Nancy Zettler. Zettler ran unsuccessfully against Alan Skillicorn two years ago, but, in … Continue reading
The following resolution has been introduced by House Speaker Mike Madigan. If passed, it has no force of law. It’s just an expression of opinion. The top Democrat could have introduced a Constitutional Amendment and tried to get it on … Continue reading
A press release from Peter Roskam’s office: Roskam wins fight on behalf of Sixth District residents, Illinoisans allowed to deduct prepaid property taxes. Washington, DC — In a victory for families across Illinois, The U.S. Department of the Treasury has … Continue reading
Why would one want to do that? With the Federal income tax being amended to preclude deduction of property and state income taxes above $10,000 from one’s Federal income, some people might be interested in what McHenry County Treasurer offers. … Continue reading
A press release from Congressman Peter Roskam: Rep. Roskam Tax Cuts and Jobs Act Conference Committee Opening Statement Washington, D.C. — The House-Senate Conference Committee for the Tax Cuts and Jobs Act met today to reconcile the bills passed in … Continue reading
Here is what the Tax Foundation says about last week’s proposal: Details and Analysis of the 2017 Tax Cuts and Jobs Act The House Ways and Means Committee’s Tax Cuts and Jobs Act would fundamentally reform the U.S. tax code for … Continue reading
With the House Republicans in Washington seeming to agree that deductions of more than $10,000 for real estate taxes will be disallowed in the future, McHenry County Treasurer Glenda Miller figured out how many bills are higher than that. It … Continue reading
A press release from Congressman Randy Hultgren: Hultgren Statement on Tax Reform Legislation Washington, DC — U.S. Representatives Randy Hultgren (IL-14) released a statement following the announcement of the Tax Cuts and Jobs Act. Full text and summary is available … Continue reading
The Chicago Tribune alert system sent the following information about the state of the Republican Party’s income tax reform plan: “The House GOP tax plan would dramatically lower the cap on widely-used mortgage interest deductions to new loans totaling no … Continue reading
From Woodstock resident Susan Handelsman: What Ending Property Tax Deductions Would Do To Congressman Randy Hultgren’s District In my understanding, if SALT deductions are eliminated, new tax bill will mean tax increase for local median income earners. New tax bill … Continue reading
A press release from Congressman Peter Roskam: Representative Roskam votes in favor of Senate GOP Budget Resolution Says budget resolution is a “…prelude to tax reform” DuPage County, IL — Today, Representative Peter Roskam (IL-06) voted in favor of the … Continue reading
Bloomberg News reports that tax writing committee member Peter Roskam is seeking, as the headline reads, Key GOP Tax Writer Wants Compromise on State and Local Tax Break The article reports that his district contains”…above-average users of the deduction…” … Continue reading
A press release from Governor Bruce Rauner: A press release from Governor Bruce Rauner: Gov. Rauner releases tax returns CHICAGO (Oct. 17, 2017) — Gov. Bruce Rauner today released his 2016 federal and state 1040s, reflecting income and tax rates, while detailing the Rauner family’s … Continue reading
A press release from Taxpayers United of America SEVEN OF ELEVEN REPUBLICAN TAXPAYER TRAITORS EXPOSED BY TUA WILL NOT RUN AGAIN CHICAGO—Seven of eleven Republican taxpayer traitors in the Ill. General Assembly, exposed by Taxpayers United of America (TUA) in … Continue reading
Every month Chicago Tribune columnist John Kass trots out his “Moutza of the Month” column. Readers pretty much write it for him with their nominations. One from Bryan Surek was for “State rep. Chris ‘Mathman’ Welch, D-Madiganistan, for having hysterics … Continue reading
It’s probably not a big surprise that most readers of newspapers–the paper ones–tend to be older than the average citizen. So, it was a surprise when the Daily Herald featured an article today about why taxing retirement income is a … Continue reading
An article in the Sunday Chicago Tribune entitled, “GOP tax increase targets blue states,” deserves our attention. Now, property taxes are deductible on our Federal income taxes. The article says that “Federal deductions for state, local taxes on chopping block.” … Continue reading
Went to the Rainbow Restaurant in Algonquin Saturday morning. State Senator Karen McConnaughay and Algonquin Village President John Schmitt were holding court, so to speak, at a table by the front window. Ten to fifteen local residents and officials were … Continue reading