by Kristina Rasmussen A report from the nonpartisan Tax Foundation found that the sunset of the Bush tax cuts at the end of 2010 would cost the average middle-income Illinois family earning $68,958 some $1,640 in higher taxes in 2011. Check out our handy table to see how much your family could pay in higher federal and/or state...

by Ashley Muchow Another great cartoon from Scott Stantis of the Chicago Tribune. Illinois’s State Sales Tax Holiday commenced August 6th and is set to last until August 15th.  See our blog on the tax holiday and a bit more from the Tax Foundation on the political gimmick.

by Kristina Rasmussen As Illinois families dive into back-to-school shopping, smart moms and dads will account for how looming tax hikes will affect their household spending. A combination of the soon-to-expire Bush tax cuts and Illinois Governor Pat Quinn’s income tax hike plan would take a painful chunk out of the already-stretched family budget. A new report...

That is about how much it would cost to close the US budget deficit for 2010. Using data from the Tax Foundation, Veronique de Rugy of the Mercatus Center has created a chart which shows the average increase in tax burden per taxpayer required to balance the annual federal budget.  The cost to close the...

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...

April 15th has come and gone, but Illinoisans need to be perpetually vigilant about taxes

Tax Freedom Day

A bill targeting online retailers like Amazon.com is moving through the Illinois Senate.