Whether you are paying taxes as a homeowner or someone who runs a business, your tax documents are of great importance. You know you need them to prepare your taxes from the previous year. However, you may have to store tax paperwork going back years for possible...
You may have looked at your recent property tax bill in disbelief. You know that your home is not valuable enough to warrant an increase in your property taxes. In this situation, you may decide to appeal your property tax rate. To do so, you should provide...
If you are like most people, preparing your taxes is a source of stress and anxiety. Not only do you have to consider how much you owe or how much you already paid, but you have to think about the process of filing too. According to Military.com, there are steps that...
Finding ways to reduce your property tax bill may be something you are scrambling to do this tax season. Lucky for you, Cook County does offer some exemptions that let you reduce your tax bill by exempting a portion of your property value from the assessment. One...
Doing your taxes is a stressful yearly endeavor for some. This is especially true for individuals who have complex income, housing or family situations among other contributing factors. The more you have to keep track of, the higher your likelihood of making a...
Cook county offers a property tax abatement for owners of industrial buildings who perform a major property rehabilitation. The purpose of this incentive is to encourage industrial development. The county normally assesses industrial real estate at 25% of its market...
Doing your taxes is already taxing enough. Adding a potential audit to the mix only makes things more stressful. There are many different reasons the Internal Revenue Service (IRS) may flag you for an audit. While there is no true way to completely eliminate the...
It is important to understand tax laws on a local and federal level. If you get into trouble for tax-related crimes, you could find yourself facing years of repercussions. Of course, different tax crimes come with different potential penalties. For example, tax fraud...
The Constitution of the United States gives the federal government the right to collect income taxes from citizens. Though this can sometimes be onerous for you, it is necessary to fund programs and services that the government provides for the public good. While...
Business owners are subject to certain property taxes based on the assessed value (estimated every three years in Illinois) of their commercial real estate. Some states tax personal business property, which encompasses furniture, inventory, equipment, fixtures and any...
