Illinois residents can claim bigger state tax credit next year under new budget A popular state tax credit used by millions of Illinoisans will be going up for the 2024 tax year. Jenny Kane/AP A tax credit used by millions of Illinois residents that ... from a $2,000 deduction in ... 06/2/2024 - 11:30 pm | View Link
Illinois residents can claim a bigger state tax credit next year under the new budget A tax credit used by millions of Illinois residents and that lawmakers quietly pared ... the standard exemption increased with inflation, from a $2,000 deduction in 2011 to $2,425 in 2022. Had the ... 06/2/2024 - 11:30 pm | View Link
Illinois House passes $53.1B budget with tax changes, migrant funding and more The “exemption allowance” is a standard deduction for Illinois taxpayers that is designed to reduce adjusted gross income, according to state officials. The deduction for tax year 2023 clocked in at ... 05/29/2024 - 6:53 am | View Link
Illinois grocery tax and more: What to know as state budget faces pivotal vote Illinois residents could soon be in for some big changes -- particularly in their wallets -- as state lawmakers are expected to cast a pivotal vote on the Fiscal Year 2025 budget proposed by Gov. J.B. 05/27/2024 - 11:36 pm | View Link