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Chicago Tax Blog

• President Obama’s Budget and Failure to File Tax Returns February 17, 2012
  President Barak Obama’s Budget proposal includes a provision to convert the crime of Willful Failure to File a Federal Tax Return from existing law where it is currently a Misdemeanor and make it a Felony for Willful Failure To File a Federal Tax Return in any 3 of a 5 consecutive year period and the […]
  horowitz
• Details of the Payroll Tax Extension January 19, 2012
  On December 23rd 2011, the United States Congress passed and President Barack Obama signed into law a two month continuation (into January and February 2012) of the 2% 2011 Social Security Payroll Tax reduction for employees.   The dynamics that the tax cut is limited to two months inherently creates a potential tax strategy for sharp […]
  horowitz
• Illinois Sales Tax – It’s News To Us November 10, 2011
  According toa  recent report in the Huffington Post, Illinois ranks in only the eighth position of the top ten highest sales tax States in the United States.  That may come as a surprise to many residents of Cook County and perhaps even more of a surprise to residents of the City of Chicago where the […]
  horowitz