income tax

(Photo by Tim Boyle/Getty Images)

Chicago Eyes A City Income Tax On Residents, Suburbanites Who Work Here

CBS 2’s Derrick Blakley takes a look at the smoke signals from cash-strapped Chicago City Hall.


Aurora Mayor Tom Weisner joins other suburban mayors and other officials in speaking out again cutting state aid to local governments. (Credit: Craig Dellimore/WBBM)

Mayors Blast Rauner’s Proposed Cuts To Local Government Funding

The governor’s proposed budget would save approximately $600 million a year, by reducing the income tax revenue usually shared with municipal governments from 8 percent to 4 percent.


New Family Taxes

5 Tax Breaks New Parents Should Know About

Tax breaks can make raising children a little more affordable.



Partial Rollback In State Income Tax May Be Mixed Blessing

CBS 2 Chief Correspondent Jay Levine explains why it is only a mixed blessing because the money has to come from somewhere, and the Rauner administration today is warning of “painful decisions” ahead.


Ald. Robert Fioretti

Fioretti Pushes Commuter Tax, Rejects Garcia’s Graduated Income Tax Proposal

The two most prominent contenders running against Mayor Rahm Emanuel in February have come up with some very different ideas about raising revenue for Chicago.



Illinois To Ask Voters About Taxing Millionaires

Illinois voters will get a chance in November to weigh in on whether millionaires should pay an additional income tax to help fund schools after Gov. Pat Quinn signed legislation Tuesday adding a nonbinding resolution to the ballot.


Governor Pat Quinn (Left) and Bruce Rauner (Right) (Credit: CBS)

Gov. Quinn, Rauner Trade Barbs Over Budget Plans

The budget debate between Democrat Governor Pat Quinn and Republican rival Bruce Rauner now includes accusations of “flim-flamming” and “flip-flopping, reports WBBM Political Editor Craig Dellimore.


Pile of cash (CBS)

House OKs ‘Millionaires Tax’ Ballot Initiative

The proposal would place a non-binding resolution on the November ballot asking voters if the Illinois Constitution should be amended to add a 3 percent surcharge to incomes of more than $1 million.


State Senate President John Cullerton

Cullerton: Candidates For Governor Should Be Honest About Income Tax

Illinois Senate President John Cullerton says it’s time to honestly face the future…about a tax cut that lies ahead, reports WBBM Political Editor Craig Dellimore.


Pile of money. (Photo credit should read ALI AL-SAADI/AFP/Getty Images)

Lake County Indiana Income Tax Passes

In a stunning reversal, commissioners in Lake County, Ind., failed to veto a planned 1.5 percent income tax for county residents.


Filling Out Forms

Plenty Of Changes For Tax Filers This Year

Experts recommend using some type of guidance to navigate forms and maximize your returns.


Photo Credit:

What To Do If You Owe Taxes But Can’t Pay

So you’ve prepared your tax return and found that you owe. What should you do if you can’t pay?


1040 Form Images

As The Tax Man Cometh, Tips For Getting Ready

The IRS expects 75 percent of all 2012 returns will get a refund, so if you haven’t started preparing your taxes yet, do it.


Rahm Emanuel Taxes

Owe A Fine? City May Target Tax Refunds To Pay Them

The City of Chicago is targeting state tax returns to recoup some of the millions of dollars in unpaid parking and red-light camera tickets.


U.S. Cellular Field

Mayor Upset City Taxpayers Had To Help Foot Bill For Stadium Renovations

Mayor Rahm Emanuel is expressing concern after the city had to make up a $1.1 million dollar shortfall in tax revenue for renovations at U.S. Cellular Field and Soldier Field.

CBS Chicago–12/01/2011

1040 Federal Tax Return (credit: AP)

Tax Deadline Just A Week Away

With just one week to go until the deadline, the Internal Revenue Service is still waiting for about a third of Illinois taxpayers to file their returns.

WBBM Newsradio–04/11/2011

Jim Edgar

Edgar: Tax Hike Was Only First Step

While many of his fellow Republicans are denouncing the hastily-passed Illinois state income tax increase, former governor Jim Edgar supports it.

WBBM Newsradio–01/27/2011

Illinois State Capitol in Springfield

Indiana Groups Work To Lure Business From Illinois

Economic development groups in northwest Indiana are taking steps to recruit businesses from Illinois including an advertising campaign highlighting the area’s transportation infrastructure, proximity to Chicago, work force and facilities.


Illinois State Capitol

Worker’s Comp Reform Could Delay Borrowing

Lawmakers left two big pieces of unfinished business when they went home after voting to raise income taxes. One would make Ill. a less expensive place to do business, and the other would get billions of dollars into charities and companies struggling to survive.


Illinois State Capitol

Some Think Income Tax Hike Was Right Move

They’re out there, but they’re not very loud – people who actually think Illinois lawmakers are doing the right thing by raising income taxes.

CBS Chicago–01/19/2011