Madigan: Illinois Income Tax Should Be Restored To 5 PercentHouse Speaker Michael Madigan says the state's income tax should be restored to the 5 percent level it was at until January.
Chicago Eyes A City Income Tax On Residents, Suburbanites Who Work HereCBS 2’s Derrick Blakley takes a look at the smoke signals from cash-strapped Chicago City Hall.
Mayors Blast Rauner's Proposed Cuts To Local Government FundingThe 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.
5 Tax Breaks New Parents Should Know AboutTax breaks can make raising children a little more affordable.
Partial Rollback In State Income Tax May Be Mixed BlessingCBS 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.
Fioretti Pushes Commuter Tax, Rejects Garcia's Graduated Income Tax ProposalThe 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 MillionairesIllinois 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.
Gov. Quinn, Rauner Trade Barbs Over Budget PlansThe 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.
House OKs 'Millionaires Tax' Ballot InitiativeThe 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.
Cullerton: Candidates For Governor Should Be Honest About Income TaxIllinois 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.
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.
Plenty Of Changes For Tax Filers This YearExperts recommend using some type of guidance to navigate forms and maximize your returns.