by Leif Jensen | Jul 6, 2020 | Taxes |
The IRS is providing welcome relief on required minimum distributions for 2020. The stimulus law enacted on March 27 waived RMDs from IRAs and workplace retirement plans for 2020. IRA and plan distributions already taken out in 2020.People have until Aug. 31 to return...
by Leif Jensen | Jun 16, 2020 | Taxes |
Are you still waiting for your stimulus check from IRS? You may get a prepaid debit card. IRS previously said that it will start mailing out paper stimulus checks to eligible individuals for whom the agency does not have bank account information. It now says that some...
by Leif Jensen | Jun 15, 2020 | Taxes |
Long-term capital gains still have favorable rates. Profits from the sale or exchange of capital assets held for over a year are generally taxed at 0%, 15% or 20%. To be long-term the assets must be held over a year. The rates are based on set income thresholds...
by Leif Jensen | May 26, 2020 | Taxes |
Cook County Assessor Fritz Kaegi has plans to reevaluate every single property in the county in the wake of the coronavirus pandemic. Typically, only a third of Cook County gets reassessed in a given year in what’s known as the triennial assessment. That’s when many...
by Leif Jensen | May 13, 2020 | Taxes |
Cook County Assessor Fritz Kaegi has plans to reevaluate every single property in the county in the wake of the coronavirus pandemic. Typically, only a third of Cook County gets reassessed in a given year in what’s known as the triennial assessment. That’s when many...
by Leif Jensen | Apr 20, 2020 | Rant, Taxes |
At times I really believe that Illinois Department of Revenue does nothing but think of dirty tricks and schemes to play on its citizens. The most recent case has occurred to two of our clients so far this year. In both cases the husband and wife both work for the...
