Still working on your taxes? Confused about IRA contribution limits? Use this "cheat sheet."
With April 15 right around the corner, here's a handy "cheat sheet" for IRA contribution limits Stratford Wealth Management and Green IRA.
Less Americans are getting a refund check from the IRS this year, CNNMoney reports. Some say it's a sign the economy is improving.
Less Americans are getting a refund check from the IRS this year, CNNMoney reports. Some say it's a sign the economy is improving.
Only 59 percent of Americans say they’ll be receiving a refund check from the IRS this year, CNNMoney reports. An American Express survey showed the percentage of people expecting money back from the government is down from 64 percent last year. More people say they are earning more and will owe money this year, which a sign the economy is doing better, CNN reports. Will you get a refund from the IRS this year, or do you expect to pay? Take part in our poll and start a conversation about the subject in the comments section.
The IRS has announced a delayed start to the 2012 tax filing season. Here's the date of when you can file, plus some locations in the Burr Ridge area to get help on your taxes.
This article was written by Patch associate regional editor Deb Belt. You'll have to wait if you are used to filing your annual tax return at the earliest possible date. The Internal Revenue Service has revised its opening date for tax season — pushing it back eight days to January 30, 2013. The tax filing deadline is Monday, April 15, 2013. The IRS will begin accepting tax returns on Jan. 30, 2013. Most taxpayers should be able to file on that date, though some revised forms may not be immediately available. You can blame the delay on the federal "fiscal cliff" crisis and the new tax bill Congress passed just after Dec. 31. You can find more information in this Forbes article. Electronic filing season was originally set to start on Jan. …
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The amount the district actually gets permission to collect next spring will likely be significantly lower once the district's total EAV and new construction numbers are known.
The District 86 Board of Education approved a tentative tax levy last week that would aim to raise as much revenue via property taxes as state law allows. The board voted 5-2 to affirm the administration’s recommendation to request a $75.5 million “balloon levy” to be collected from its taxpayers, $73.1 million of which would go toward its capped funds like education and operations, despite the fact that such an increase accounts for $17 million more in new construction than the district expects, business manager Jeff Eagan said. The $73.1 million for capped funds is a 4.5 percent increase over last year’s tax extension. According to state law, the extension of the 2012 levy over the 2011 levy is limited by the 2011 consumer price index…
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Educators receive extraordinary pay and benefits compared to private sector employees who pay for this expense with substantially less dollars coming in ...
This letter was written in response to a recent letter published on Burr Ridge Patch in which the writer discusses what he calls "excessive educator compensation" for declining student test scores. The letter she refers to was sent in response to the story, Burr Ridge Teachers Union Files Strike Notice. Whether or not you agree with John Sullivan’s position on the quality of education dispensed, or the greed, lying, and corruption foisted upon the taxpayers-Mr. Sullivan states indisputable facts: Illinois is bankrupt, pension liability is a major cause, educators receive extraordinary pay and benefits compared to private sector employees who pay for this expense with substantially less dollars coming in to their respective households. …
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10:30 am on Wednesday, March 28, 2012
No problem, then. $70 per year growing at 5% per year for 38 years will grow to $7540 when you are 60. This will fund a pension of $546 per year for 24 years if the money continues to grow at 5%. This is not excessive and you are welcome to it. more ›
District seeks 4.95 percent increase, but superintendent says the district will likely not receive that much.
The Community Consolidated District 180 School Board passed a new tax levy of $7,199,699 -- a 4.95 percent increase during their November meeting. However, Superintendent Tom Schneider said it’s unlikely the levy amount will be approved by the county due to the lack of revenue growth in the area. The district is subject to a tax cap of 5 percent or the cost of living, whichever is lower. This year the state-imposed tax cap has been set at 1.5 percent. District staff said the amount they likely receive will be close to the 1.5 percent mark. However, Schneider said the district asks for more than it’s likely to receive in order to take advantage of any sudden construction booms that might increase amount of property tax collected. “We have …
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8:59 am on Thursday, November 24, 2011
Alex does a great job of explaining the process of how school districts adopt their levies. Certainly, a lot of factors are involved. This question has probably been raised before, but I'll throw it out there again for discussion's sake: Is there a better way to fund Illinois schools than the current system? If so, what would you suggest? more ›
Legislature passes budget that does not include plan to withhold municipal portion of income taxes.
Burr Ridge leaders are feeling a sense of relief that state lawmakers submitted a budget that did not include the municipal share of state collected revenues. “We are thankful and grateful it was not included,” said a relieved Steven Stricker, Burr Ridge’s village manager. “As we said, if they passed that it would have been catastrophic for the village, but we are extremely pleased they did not include this option.” Over the month of May Burr Ridge leaders, along with leaders from other state municipalities, lobbied members of the legislature urging them to reject a plan to withhold the municipalities’ share of state income, sales and fuel taxes. Village leaders also asked Burr Ridge residents to contact their representatives and ask them …
Tucked away on the sixth floor of the Cook County building, the county's Board of Review office is a place most people don't know about until compelled by the appeal process.
Click through the photos above for an inside glimpse into the world of property taxes at the Cook County Board of Review. This additional office is unique to Cook County's property tax system in the state of Illinois. Created as an extra layer of appeals for the property taxpayer, the board is comprised of three elected commissioners and their staff. One commissioner, Daniel Patlak, took some time to give Patch a personal tour for our property tax series, "Making Sense of Your Cook County Property Tax."
In Day Two, Patch unpacks the impacts of the classified tax system on businesses, through the lens of one business owner.
Joel Byron, 51, was hunched over tiny numbers in the back office of his business property, a one-window storefront in the northwest suburbs. Surrounded by stacks of papers, the small business owner thumbed his way through records of correspondence with the Cook County Tax Assessor’s Office like pages in a family photo album. “Here’s a letter from October,” he said. “Oh, wait! Here’s the one from November. … This one is mine again. … And here’s the follow-up response two weeks later.” To small business owners like Byron, the amount they owe in property taxes each year is not just one more line item in their operating budget. Due to the complex tiered system unique to Cook County, it can single-handedly cripple them. Part of the reason is …
John Regan
9:52 am on Thursday, November 29, 2012
Barry, you said "Elections for school board in April. I hope to see some new names on the board after the votes are counted." Agreed. The majority of the school board are reprehensible, not just for the fiscal mentions you cite, but for the permitting the hidden liberal agenda of the faculty and the derelict administration to creep into the curriculum as well. I would be willing to help raise … more ›