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Supreme Court Issues Decision in Favor of Property Owner

Supreme Court Issues Decision in Favor of Property Owner

On May 25, 2023, the U.S. Supreme Court issued another taxpayer-friendly decision in the case of Tyler v. Hennepin County, MN. In this case, the Petitioner, Ms. Tyler, owed $2,300 in property taxes plus $12,700 in penalties and interest (a total of $15,000) to...
Expanded Application of Illinois Secure Choice Program

Expanded Application of Illinois Secure Choice Program

The Illinois Secure Choice program began in 2018, though many Illinois employers are still unaware of its requirements. Simplistically, Illinois Secure Choice requires most employers that do not sponsor a retirement plan to join Illinois Secure Choice. Initially,...
Another Ruling Weakens IRS’ Use of Penalties as Enforcement Tool

Another Ruling Weakens IRS’ Use of Penalties as Enforcement Tool

Just a few months after the U.S. Supreme Court’s ruling in Bittner v. United States, the Tax Court dealt another blow to the IRS’ use of penalties to enforce the Tax Code. In early April 2023, the Tax Court entered its decision in Farhy v. Commissioner, 160 T.C. No....
Illinois Tax Credits for Teachers

Illinois Tax Credits for Teachers

For many years, Illinois teachers have been able to claim a tax credit for supplies they purchase out of their own pockets. In 2023, this credit doubled. Beginning in 2023, teachers can claim up to $500 in tax credits for classroom materials and supplies they purchase...
Illinois Tax Credits for Educational Expenses

Illinois Tax Credits for Educational Expenses

If you have a child in Kindergarten through 12th grade who is under age 21, you may be eligible for the Illinois Education Expense Credit. Illinois parents of these children can take a 25% tax credit on qualified educational expenses over $250. Parents are only...
New Organ Donation Tax Credit Available in Illinois

New Organ Donation Tax Credit Available in Illinois

Beginning January 1, 2023, Illinois employers may be eligible for a new tax credit – the Organ Donation Credit (35 ILCS 5/704A(j)). If a private Illinois employer gives all of its employees the option to take a paid leave of absence of at least 30 days so the employee...