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taxes

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A Simplified Tax Option For Home Offices

This tax season holds good news for millions of self-employed people who work from home: Home office deductions, which used to require a litany of calculations and the completion of a 43-line form, have at last been simplified.

03/13/2014

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Identity Thieves Targeting Tax Refunds

Chicago is among the top five cities for refund-related tax ID theft. In this original report Dorothy Tucker takes a look at how easy it is to become a victim and what you can do to protect yourself.

03/12/2014

American Airlines Jet

RTA Sues American Airlines For Dodging Taxes

The agency that oversees public transportation in Chicago is suing American Airlines for falsely claiming to buy “vast amounts of jet fuel” from a small office in a rural community to avoid paying tens of millions of dollars in taxes in the nation’s third-largest city, where the actual work is done.

03/12/2014

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Disappearing Deductions Cost Taxpayers

Changes to tax laws last year reinstated some income-based phase outs of some widely used personal exemptions and itemized deductions, leaving many taxpayers with higher tax bills.

03/12/2014

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The “Dirty Dozen” Tax Scams Of 2014

The IRS has a warning for Americans — watch out for tax scams. Every year the agency releases a “Dirty Dozen” list of the worst tax scams out there. This year, identity theft and phone scams top the list.

03/12/2014

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Tax Advice: Common Small Business Tax Filing Mistakes

Small businesses can innocently make tax mistakes that wind up racking up steep penalties. Consider these common mistakes before filing your taxes.

03/10/2014

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Tax Advice: Common Small Business Tax Filing Mistakes

Small businesses can innocently make tax mistakes that wind up racking up steep penalties. Consider these common mistakes before filing your taxes.

03/10/2014

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Five Tips for Getting the Most From Your 401(k) Plan

Whether you’re 25 or 55, you know you’ll want to retire one day – and to retire in comfort you must save. These five simple steps can help you make a big difference in your efforts to reach retirement with lots of money in your retirement account.

03/03/2014

(Credit, Meghan Ross)

Should You E-File Or See A Tax Specialist For Your Returns?

When it comes to figuring your taxes, should you rely on software or turn to a pro?

03/03/2014

Electronic Tax Filing

Best E-Filing Programs For Tax Returns

Forget the stress of tax season by using one of these e-filing programs.

03/03/2014

Taxes

5 Tips For Doing Your Own Taxes

Save money — and maximize your refund — with these tips for doing your taxes all on you own.

03/03/2014

Money Roll

5 Tax-Deductible Items You May Have Missed

Who doesn’t want to save a little (or a lot of) extra money at tax time? Claiming all the deductions for which you are eligible can significantly reduce your tax bill.

03/03/2014

Taxable

Tax Tips For Retirees

With careful planning, you may find yourself paying the IRS much less than you have in years past.

03/03/2014

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Newlywed? Whether To File Separately Or Jointly

Newlyweds are often confused about the best type of filing for their particular situation as well as the legalities involved. If you want to enjoy the lowest tax rate possible, you’ll need to do your homework, starting with these considerations.

03/03/2014

(Clockwise from top left) Republican candidates for governor Bill Brady, Kirk Dillard, Bruce Rauner, and Dan Rutherford. (Photo illustration by CBS)

Republican Candidates For Governor Debate Taxes, Spending

State Sens. Bill Brady and Kirk Dillard, businessman Bruce Rauner and Treasurer Dan Rutherford faced off in a debate that focused heavily on Illinois’ struggling economy and how to improve its business climate.

02/04/2014

Money

Topinka, Simon Unveil Separate Taxpayer Transparency Programs

In a case of dueling transparency, both the comptroller and her challenger introduced new programs to let taxpayers know where their money is and where it’s going, reports WBBM’s John Cody.

02/03/2014

Illinois State Capitol in Springfield

Illinois Residents To Get State Spending Chart With Tax Bill

Illinois’ state comptroller says 2014 needs to be the year of consolidation.

12/30/2013

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Wilmette To Study Tax Assistance For Low-Income Residents

The Wilmette village board is expected Tuesday night to set up an ad-hoc committee to study ways to continue providing rental, mortgage and property tax assistance to low-income residents of the North Shore suburb.

12/10/2013

Mayor Rahm Emanuel addresses an anti-violence summit at Chicago State University. (CBS)

City Could Raise Amusement, Cigarette, Liquor And Lease Transaction Taxes

Mayor Rahm Emanuel is exploring the possibility of raising the city’s tax on amusements, cigarettes, liquor and personal property lease transactions to chip away at a $338.7 million budget shortfall, City Hall sources said Friday.

10/05/2013

This home in Cook County was wrongly listed as "vacant," which underestimated its value for property taxes. (CBS)

2 Investigators: Some Properties Still Mislabeled As ‘Vacant’ On Tax Rolls

CBS 2’s Pam Zekman reports on problems that persist within the Cook County Assessor’s Office.

08/01/2013

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