The Service gets an 'A' for effort but also 'D' for "do more with less." The U.S. Internal Revenue Service rejected $1.6 billion in erroneous claims for the first-time homebuyer tax credit, according to a report by the Treasury Inspector General for Tax Administration. The refundable tax credit, worth as much as $8,000, was available to […]
Great Night for Illinois Taxpayers!
Illinois Democrats were dead-set on raising the state’s personal income tax by a whopping 83 percent. But in a stunning and miraculous turn of events, they decided to go easy on their already mightily-struggling constituents. In a deal reportedly reached tonight, Gov. Pat Quinn and legislative leadership decided to with a mere 75 percent income tax increase, coupled with a modest 102 percent cigarette tax hike that will gently nudge countless jobs across state lines and steal a disproportionate amount of impoverished Illinoisans’ income with a wink and a smile.
We like what the author, Josh Culling, did there but the only problem is that he felt it necessary to brief readers with the following, “The above, of course, is laced with sarcasm and disappointment.” OH THANKS! We really thought we were on a “Rahm for Mayor” site for a minute there.