Internal Revenue Service

Nonessential Personnel

04/07/2011
by Mark Cavers In the case of a government “shutdown” the government doesn’t actually shut down. Rather, essential services remain up and running: Military personnel in Iraq don’t suddenly fly home, TSA agents don’t stay in bed, and the IRS doesn’t stop collecting taxes (although, in a particularly cruel bit of irony, they stop sending...

1099 Requirement Makes a Comeback?

01/31/2011
Obama's recently released budget proposal includes a retooled version of the infamous 1099 tax reporting requirement in ObamaCare.

Raising Taxes on Everyone

09/28/2010
by Kate Piercy Here’s an eye-opening breakdown of how possible tax increases coming next year could affect everyone, not only “the rich.” Some potential wallops include: As many as 30 million middle-class Americans could get hit with the AMT (Alternative Minimum Tax) next year. A school teacher married to a bus driver, with a combined income $120,000 and...

Charting the Illinois Exodus

09/16/2010
by Ashley Muchow Check it out!  The Tax Foundation released a nifty interactive tool showing state-to-state migration data for a range of years between 1993 and 2008. The tool tracks the flow of both people and their income based on IRS tax return data. You can select any state and track the net inflows and outflows to and from...

False Stats to Cause Misery for Small Businesses

09/04/2010
by Ashley Muchow The economy has proved to be the most important topic in politics today.  Rightfully so.  Come the end of last month, U.S. unemployment stood at 9.6%.  Economic activity left much to be desired as GDP rose 1.6% in the second quarter of 2010, compared to a 3.6% increase in the first. Naturally, Washington feels obliged...

Jumping on the Moving Truck

By Chris Andriesen
06/16/2010
An interactive migration map from Forbes helps us understand Illinois's population migration.

2.1 Million, 34% of Tax Filers in Illinois Pay No Federal Income Tax

05/28/2010
by Brian Costin An interesting study from the Tax Foundation released earlier this week showed that 34% of Illinois citizens who filed a tax return paid no taxes on their income, slightly below the national average of 36%. 2.1 Million out of the state’s 6.1 million filers were able to reduce their income tax liability to...

Why Health Care Costs So Much and What We Can Do About It

By Chris Andriesen
06/16/2008
WHY HEALTH CARE COSTS SO MUCH AND WHAT WE CAN DO ABOUT IT (Springfield, Ill.) Government intervention in the economy, whenever it is tried, often comes with unintended consequences that make matters worse.  The arena of health care is no exception. Over recent decades, the debate over what has caused health care costs to rise so...

A Stimulating Idea: The Case For An Illinois Gas Tax Suspension

05/20/2008
Critics say that the effect of suspending the Illinois Gas Tax will be minimal and would deprive state government of needed taxes to build highways and roads. They are wrong on both counts. Lowering the gas sales tax from 6.25% to 1.25% (HB6318) will make a material difference in the lives of Illinois residents in...