Explore our content

All types | All dates | All authors
Internal Revenue Service

Pages

PI Original
by Ellyn Fortino
1:33pm
Thu Jul 28, 2016

Report: U.S. Utility Companies 'Have Become Expert Tax Dodgers'

Profitable U.S. utility companies are not paying their "fair share" in taxes, according to a new report from the Institute for Policy Studies. 

Quick Hit
by Ellyn Fortino
5:43pm
Wed Jan 28, 2015

Study: Top 1% Of Earners In Illinois Captured 97% Of Post-Recession Income Gains

The top 1 percent in Illinois took home nearly all of the state's income gains in the first few years of the U.S. economy's recovery from the Great Recession.

That's one of the findings of a new study on income inequality published by the Economic Policy Institute, a nonpartisan think tank based in Washington, D.C. The report was co-authored by Estelle Sommeiller, a socioeconomist at the Institute for Research in Economic and Social Sciences in France, and Mark Price, an economist at the Keystone Research Center in Harrisburg, Pennsylvania.

Overall, the study showed that the wealthiest 1 percent of taxpayers in 39 states, including Illinois, captured at least half of all the post-recession income gains in their respective states between 2009 to 2012. Over this time period, 17 states saw their top 1 percent of earners gain 100 percent of the income growth, according to the researchers, who examined state-level tax data from the Internal Revenue Service.

Average incomes grew faster from 2009 to 2012 for those in the top 1 percent than the bottom 99 percent in every state but West Virginia, the report reads. And in 2012, the wealthiest 1 percent of Americans earned almost 30 times the income of those in the bottom 99 percent.

PI Original
by Ellyn Fortino
4:39pm
Mon Nov 24, 2014

Lame Duck Congress Faces Tight Budget Deadline To Avert Government Shutdown

Federal lawmakers are up against a December 11 deadline to pass spending legislation to avert a government shutdown. Progress Illinois previews what's ahead for Congress in the remaining days of the lame duck session, including a possible budget showdown over President Barack Obama's executive action on immigration.

Quick Hit
by Ellyn Fortino
1:32pm
Mon Jul 7, 2014

Sheila Simon Calls On Rauner To Release 2013 Tax Information

Illinois Lt. Gov. Sheila Simon urged Republican gubernatorial candidate Bruce Rauner to release his complete 2013 income tax records during a press conference Monday morning.

"Today I am calling on candidate Bruce Rauner to make full disclosure of all the schedules that go with his taxes and his 2013 tax returns," Simon said in Chicago's Grant Park. "Being engaged in public politics and governance requires a sacrifice of some privacy, but it's a small sacrifice, and it's worth it because transparency builds trust. This is not a 'gotcha.' This is governing. Let's do it right."

Pages