Finance

Illinois Budget Adds Retroactive Tax on Foreign Profits Targeting Corporations Through GILTI Rule

Illinois Budget Adds Retroactive Tax on Foreign Profits Targeting Corporations Through GILTI Rule

ILLINOIS — A controversial tax provision in Illinois’ newly passed budget would impose a retroactive tax on foreign corporate profits starting in tax year ...

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Chicago Condo Listing Prompts Concerns Over Property Taxes and HOA Fees

Chicago Condo Listing Prompts Concerns Over Property Taxes and HOA Fees

CHICAGO — A 2-bedroom, 2-bath condo listed for $135,000 in Chicago’s South Shore neighborhood has gone viral — not for its affordability, but for ...

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Illinois Dead Last in Economic Health Rankings for 2025

Illinois Dead Last in Economic Health Rankings for 2025

ILLINOIS — In a sobering report that could impact both policy perception and political futures, Illinois has been ranked 51st out of 51 for ...

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Chicago Housing Plan Criticized Over $1.1M Per Unit Cost, Fueling Transfer Tax Backlash

Chicago Housing Plan Criticized Over $1.1M Per Unit Cost, Fueling Transfer Tax Backlash

CHICAGO — A multibillion-dollar affordable housing initiative in Chicago is under fire as critics slam the city for spending over $1.1 million per unit ...

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Chicago Rent Up 6.25% In 2025 As New Apartments Hit 30-Year Low

Chicago Rent Up 6.25% In 2025 As New Apartments Hit 30-Year Low

CHICAGO — Renters in downtown Chicago are facing a sharp 6.25% year-over-year rent increase as the city deals with a dramatic collapse in new ...

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Illinois Budget 2025: New Taxes on Sports Bets, Vaping, and Out-of-State Sales Approved

Illinois Budget 2025: New Taxes on Sports Bets, Vaping, and Out-of-State Sales Approved

SPRINGFIELD, Ill. — In a late-night vote on May 31, Illinois lawmakers passed a $55.2 billion budget for the upcoming fiscal year, introducing a ...

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Illinois Tax Debate: Vallas Warns That ‘Tax The Rich’ Mantra Could Backfire on Chicago

Illinois Tax Debate: Vallas Warns That ‘Tax The Rich’ Mantra Could Backfire on Chicago

CHICAGO — As Chicago grapples with a worsening financial outlook across its schools, public transit, and city budget, former mayoral contender Paul Vallas is ...

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FanDuel Sports Bets in Illinois to Cost 50 Cents More Starting September 1

FanDuel Sports Bets in Illinois to Cost 50 Cents More Starting September 1

CHICAGO — Sports betting in Illinois is about to get more expensive. FanDuel, one of the largest online sportsbooks in the U.S., will begin ...

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IRS Delays Trigger Tax Bills for Already-Paid Filers — Officials Stay Silent Amid Mounting Complaints

IRS Delays Trigger Tax Bills for Already-Paid Filers — Officials Stay Silent Amid Mounting Complaints

CHICAGO — A growing number of taxpayers say they’re receiving IRS bills for taxes they’ve already paid, sparking confusion, financial anxiety, and calls for ...

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SmartBuy Loan Forgiveness Program Closes Temporarily Due To Funding Freeze

SmartBuy Loan Forgiveness Program Closes Temporarily Due To Funding Freeze

ILLINOIS — The state’s SmartBuy student loan forgiveness program, which helped hundreds of Illinois residents erase debt and become homeowners, has halted new applications ...

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