I t may not come as a surprise to residents that a new report again found Illinois' property taxes were the second-highest in the nation, but the debate about how to address the problem continues, including among members of the Illinois Property Tax Relief Task Force.
Behind only New Jersey, Illinois had the second-highest property taxes in the U.S., according to the latest report from WalletHub. The consumer finance website found the average property taxes on a $205,000 home in Illinois were $4,700. The same $205,000 house in Kentucky or Indiana would come with a $1,760 property tax bill.
Many things are taking place:
AI Comes to the Tax Code - WSJ
Governments are increasingly relying on machine learning and data analytics to analyze troves of data as they seek to detect tax evasion, respond to taxpayers' questions and make themselves more efficient.
Taxes on gas, ride-hailing and businesses all in House transportation plan – Boston Herald
A hike in the state gas tax, a bump in ride-hailing fees and costs for corporations are all part of a House proposal to rake in up to $612 million from taxpayers to fix the state’s transportation woes.
“When it comes to our transportation system, revenue can’t wait. Revenue can’t wait any longer,” Speaker Robert DeLeo told reporters Wednesday. “Our residents, our communities and our economy are dependent on an immediate source of revenue.”
How the IRS knows if you cheat on your taxes
Many tax forms you receive at tax time don't go only to you; in many cases, the senders give copies to the IRS as well. Those forms, called information returns, typically are records of certain payments you received or made during the tax year that you usually need to report on your tax return. Some of the most common information returns are W-2s, which report wages earned from a job, and 1099s, which report money received for things such as freelance work, dividends or interest.
Not to change the topic here:
Sanders's Pricey Tax and Spending Plans - The Atlantic
But Sanders benefited from the chaotic nature of the debate, which prevented his rivals from sustaining any individual line of attack against him for very long. And when he wasn't on the defensive, he confidently delivered his populist promise to deliver an economy that works better for working families.
Still, the debate's most lasting effect may be the seeds it laid down for a deeper discussion to come about the cumulative cost of Sanders's agenda, an issue that's received remarkably little attention until recently.
Bloomberg - Are you a robot?
How are taxes handled in an inherited trust? - MarketWatch
Q: My parents passed away years ago and left money in a trust that is now going to be distributed to their grandchildren. How are the taxes normally handled on a trust that originally came down from their grandparents? Can the trust hold funds in an education fund?
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A.: Trusts can help accomplish a lot of goals. Because of this flexibility they can also be complex. I will discuss some basics here, but I am not an attorney and I recommend you engage a good one to assist you.
Happening on Twitter
Over 11 years ago, FBI interviewed Barack Obama about sale of his Senate seat. There's a FBI "302" report of inter… https://t.co/ONi0DLfszI TomFitton (from Washington, DC) Tue Feb 18 21:02:13 +0000 2020
Trump may have 'short circuited' Illinois Republicans' election strategy with Blagojevich pardon: report https://t.co/fffeVD9dLv RawStory (from Washington, DC) Mon Feb 24 20:57:26 +0000 2020
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