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Illinois

Social service groups sue Illinois for $100 million over unpaid work

Social service groups sue Illinois for $100 million over unpaid work

CHICAGO (Reuters) – Dozens of Illinois social service providers, starved of cash by the state’s long-running budget stalemate, sued Illinois Governor Bruce Rauner and six statewide agencies on Wednesday, seeking more than $100 million for unpaid work since July. The plaintiffs, who provide services for sex-abuse victims, the homeless, senior citizens and at-risk youth, are suffering […]

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Bits ‘n Pieces – Yahoo’s tax options: bad or worse; Jeb Bush tax plans; Emanuel on sugary soft drinks tax; Internet is no longer tax-free; Trump on raising taxes

Bits ‘n Pieces – Yahoo’s tax options: bad or worse; Jeb Bush tax plans; Emanuel on sugary soft drinks tax; Internet is no longer tax-free; Trump on raising taxes

* Yahoo’s tax options: bad or worse. By Miriam Gottfried – The Wall Street Journal. To spin or not to spin? For Yahoo, that is an exceedingly complicated question. And for investors, there don’t look to be many good answers. Link to The Wall Street Journal, on.wsj.com/1UE2Lpx * Jeb Bush tax plan makes forays into […]

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Chicago middle-class homeowners could be spared proposed tax hike

Chicago middle-class homeowners could be spared proposed tax hike

(Reuters) – Middle-class homeowners may be exempt from a proposed property tax hike in Chicago, with higher-income homeowners and commercial property owners paying most of the roughly $500 million tax increase planned, Crain’s Chicago Business reported on Monday. The city’s goal is to ensure that those with homes worth up to the city median, about $200,000 […]

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Multitude of local authorities soak Illinois homeowners in taxes

Multitude of local authorities soak Illinois homeowners in taxes

(Reuters) – Mary Beth Jachec lives in a three-bedroom house in Wauconda, a village of 14,000 in Illinois, 45 miles northwest of Chicago. Her semi-detached brick home is unassuming. Her tax bills are not. The 53-year-old insurance manager gets a real estate tax bill for 20 different local government authorities and a total payout of […]

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Illinois governor proposes sweeping pension legislation

Illinois governor proposes sweeping pension legislation

CHICAGO (Reuters) – Illinois Governor Bruce Rauner on Wednesday unveiled pension legislation that calls for sweeping changes, including the ability to file for municipal bankruptcy, to save billions of dollars for the state and local governments. Illinois and its biggest city Chicago are sinking under huge public pension obligations that are draining money away from […]

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Fiscal watchdog slams ‘unrealistic’ cuts in proposed Illinois budget

Fiscal watchdog slams ‘unrealistic’ cuts in proposed Illinois budget

CHICAGO (Reuters) – Illinois Governor Bruce Rauner’s proposed budget contains at least $3.25 billion of unrealistic spending cuts that could further harm the state’s already shaky finances, a government finance watchdog group said on Thursday. The Chicago-based Civic Federation said while the $31.5 billion fiscal 2016 general funds spending plan unveiled by the Republican governor […]

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Why Are States Leaving Billions In Retiree Income On The Table?

Why Are States Leaving Billions In Retiree Income On The Table?

CHICAGO (Reuters) – Illinois is the national poster child for state budget messes. My home state faces a $7.4 billion general fund deficit and a $12 billion revenue shortfall. One proposed idea for plugging at least part of the horrific shortfall: tax retirement income. But our new governor, Republican Bruce Rauner, has rejected the idea. […]

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Illinois high court rules constitution protects health benefits

Illinois high court rules constitution protects health benefits

CHICAGO (Reuters) – The Illinois Supreme Court decided Thursday that healthcare for retired state workers is a constitutionally protected pension benefit, a ruling with implications for pension reform legislation passed by the state legislature earlier this year. The 6-to-1 decision allows the continuation of class-action challenges to a 2012 Illinois law that gave the state […]

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Disaster victims in Florida and more disaster victims in Mississippi qualify for tax relief

Disaster victims in Florida and more disaster victims in Mississippi qualify for tax relief

IRS has announced on its website that victims of the severe storms, tornadoes, straight-line winds, and flooding that began on Apr. 28, 2014 in counties of Florida that are designated as federal disaster areas qualifying for individual assistance, and that additional victims of the severe storms, tornadoes, and flooding that began on Apr. 28, 2014 […]

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Disaster victims in Illinois, Oklahoma and Mississippi qualify for tax relief

Disaster victims in Illinois, Oklahoma and Mississippi qualify for tax relief

IRS has announced on its website that victims of the severe storms, straight-line winds and tornadoes in counties of Illinois that are designated as federal disaster areas qualifying for individual assistance have more time to make tax payments and file returns. Certain other time-sensitive acts also are postponed. This article summarizes the relief that’s available […]

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Illinois Supreme Court moves to close tax loopholes in Hartney Fuel Oil Company v. Hamer

Illinois Supreme Court moves to close tax loopholes in Hartney Fuel Oil Company v. Hamer

As reported in the news, Illinois Supreme Court moves to close tax loopholes – No penalties handed down, but companies will not be allowed exploit faulty regulations in the future. The case is Hartney Fuel Oil Company v. Hamer, 2013 IL 115130 The Illinois Supreme Court on Thursday delivered a resounding blow to questionable tax […]

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Employers in 13 states will face higher 2013 FUTA rates

Employers in 13 states will face higher 2013 FUTA rates

The U.S. Department of Labor (DOL) has issued the final list of states for which employers will not be eligible to claim the maximum amount of state unemployment tax credits on their 2013 federal unemployment (FUTA) tax return because the state has had an outstanding federal unemployment insurance (UI) loan for at least two years. […]

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State Parole Boards Use Software to Decide Which Inmates to Release

State Parole Boards Use Software to Decide Which Inmates to Release

As reported in the WS Journal, State Parole Boards Use Software to Decide Which Inmates to Release. At the age of 13, Michael T. Murphy went into the woods near his home in rural New York with the 10-year-old boy who lived next door and stabbed him to death. Last year, having rejected Mr. Murphy’s […]

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States’ online ‘Amazon tax’ fight may land in U.S. Supreme Court -lawyers

States’ online ‘Amazon tax’ fight may land in U.S. Supreme Court -lawyers

WASHINGTON (Reuters) – Diverging high court rulings in New York and Illinois over ‘Amazon taxes’ point to a possible U.S. Supreme Court case to settle questions about the legality of states taxing online retail sales, lawyers said on Monday. With Congress failing to take action on the issue, courts have been intervening case-by-case in a […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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