Chicago Accounting Articles

Tax Penalties Chicago Illinois

Updated July 24, 2015   Tax Penalties Chicago Illinois   What Penalties Does the IRS Impose?   If you do not file your return and pay your tax by the due date, you may have to pay a penalty. You may also have to pay a penalty if you substantially...

Income Tax Credit Chicago Illinois

Updated July 24,2015   Income Tax Credit Chicago Illinois   What is a Tax Credit?   A tax credit is a sum deducted from the total amount a taxpayer owes to the government. A tax credit may be granted for various types of taxes, such as an income tax,...

Auditing and Amending Tax Return Chicago Illinois

Updated July 27, 2015   Auditing and Amending Tax Return Chicago Illinois   Once the audit of a tax return has been completed, you will receive a list of changes from the Internal Revenue Service or The Illinois Department of Revenue Auditor. The letter will...

2011 Tax Bracket Chicago Illinois

Updated July 24, 2015   2011 Tax Bracket Chicago Illinois   Earnings tax rates, and filing statuses for 2011   2011 Tax Rates   Tax Rate Single Filers Married filling jointly or qualifying widow/widower Married filling separately Head of household...

Business Income Tax Chicago Illinois

Updated July 24, 2015   Business Income Tax Chicago Illinois   The business income tax or your company’s taxes depends entirely on the type of entity. If you are a corporation, then there is one set of tax brackets. If you are a partnership, then there...