Changes have been announced for the 2023 Illinois Income Tax forms and schedules affecting both individuals and businesses. Additionally, updates have been made to the 2024 Withholding Income Tax forms and schedules. These changes are pertinent for tax preparers and software developers.
The Illinois Department of Transportation (IDOT) is organizing the 33rd "Today's Challenge, Tomorrow's Reward" conference on February 21 and 22 at the Crowne Plaza in Springfield. The event, hosted by IDOT's Office of Business and Workforce Diversity, aims to provide female- and minority-owned businesses with opportunities to connect and develop skills for growth and success.
The fourth quarter of 2023 brought in $4.9 billion in individual income tax revenue for Illinois, a 3.7% increase from the third quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.
The Illinois Department of Financial and Professional Regulation, Division of Banking has released information regarding the interest rate for savings accounts. As of December 31, 2023, the largest commercial bank in Illinois reported an interest rate of 0.005% on minimum deposit savings accounts. The Annual Percentage Yield (APY) associated with this rate is noted to be 0.01%.
The Illinois Freedom Caucus is expressing dismay over the low compliance rate with Gov. J.B. Pritzker’s gun registration law, asserting that only 0.63% of gun owners adhered to the radical legislation.
The annual Conservation Cropping Seminar will be held on January 31, 2024, with the option for Illinois farmers to attend virtually for a $15 registration fee. The seminar will run from 9 a.m. to 3:30 p.m., offering soil and water Continuing Education Units (CEUs).
On Dec. 31, a total of 780 illegal immigrants were reported to have been dropped off in various locations across Illinois, including Dupage, Lake Counties, Elgin and Rockford, according to Emergency Management and Regional Security.
The fourth quarter of 2023 brought in $19 million in property tax revenue for Illinois, a 5.6% increase from the third quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.