Category Archives: Illinois

Yet Another Payroll Service In Trouble

Posted on June 8, 2008 by Russ

What happens if you use a payroll service and they don’t forward the deposits to the IRS and your state tax department? The payroll company will be in trouble, but the employer is still liable for the deposits. That’s why … Continue reading →

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Chicago, Chicago, That Taxin’ Town

Posted on March 2, 2008 by Russ

Congratulations, Chicago! You now have the highest sales tax rate in the country at 10.25%. Chicago earned that distinction when Cook County doubled its county sales tax to 1.75%. Who will benefit from this tax increase? Cook County passed the … Continue reading →

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Corruption and Tax Fraud in Illinois

Posted on December 13, 2007 by Russ

Christopher Kelly, a former adviser to Illinois Governor Rod Blagojevich, has been indicted on federal charges of tax fraud. Mr. Kelly is accused of understating more than $1.3 million on his business and personal income tax returns. If found guilty … Continue reading →

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Chicago: The Taxing City

Posted on November 18, 2007 by Russ

Back in September, I reported that Cook County was looking at increasing its sales tax. That hasn’t happened yet. However, the City of Chicago decided that one good tax increase deserves another. Chicago’s City Council passed a $0.05/bottle water tax … Continue reading →

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2.75% or 30.6%?

Posted on September 19, 2007 by Russ

I’m a native of Chicago. It’s a great city, and has every kind of attraction you can think of. It’s also the home to the best baseball team in the world (unfortunately, they usually don’t have a good record). But … Continue reading →

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There’s Corruption in Chicago? I’m Shocked!

Posted on July 15, 2007 by Russ

Yeah, right. I’m a native of the Windy City and am anything but shocked. A former Alderman (city councilperson) is now facing 13 federal charges, including tax evasion. Arenda Troutman is accused of using a political committee to hide money … Continue reading →

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Illinois Casino Tax Ruled Unconsitutional

Posted on April 8, 2007 by Russ

Last year, Illinois added a new tax to help the horse racing industry. The tax required Chicago-area casinos that make over $200 million a year to remit 3% of their gross revenues to a fund benefiting Illinois’ nine horse racing … Continue reading →

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Clear as Mud

Posted on March 18, 2007 by Russ

If I told you that there was a trial attracting a media circus in Chicago, you might wonder about my intelligence. Except for stories in the two daily Chicago newspapers (the Chicago Tribune and the Chicago Sun-Times), this trial might … Continue reading →

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“Cops Moonlighting as Strip Club Bouncers Charged with Tax Fraud”

Posted on April 9, 2005 by Russ

The headline says it all. >From the Chicago Tribune, this story (one-time registration required) details the sordid details, which include: – The strip clubs owner, Michael G. Wellek, had $12 million in cash (in bags) seized in 2003 from his … Continue reading →

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