The tax-overhaul plan introduced Thursday by U.S. Senate Republicans threatens to hit middle- and upper-middle-income Illinois residents particularly hard. The proposal completely eliminates federal deductions for state and local taxes — SALT, in geekspeak — which, news flash, are higher in Illinois...

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Topics:  u.s senate republicans    salt   illinois   tax   plan   
BING NEWS:
  • How much will your community save from Illinois grocery tax repeal?
    Illinois is doing away with the statewide grocery tax. Look below to see how much taxpayers in your town or county will save when the tax goes away in 2026 – unless local leaders decide to keep it.
    10/2/2024 - 6:35 am | View Link
  • Tax planning for the SALT cap
    Taxpayers can employ several strategies in the face of limited deductibility of state and local taxes through 2025 and perhaps beyond.
    09/30/2024 - 5:02 pm | View Link
  • Illinois’ high property tax burden discussed ahead of ballot question
    Illinois voters have a non-binding question on the November ballot about taxing millionaires more to fund a property tax relief fund. Behind only New Jersey, Illinois has the second-highest property ...
    09/30/2024 - 9:11 am | View Link
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