Tag: earned income tax credit

A holiday twist: Sears closings and tax credit expansion

Lawmakers in Illinois breathed a sigh of relief on Dec 16, when the legislature finally managed to approve a tax cut that would keep Sears Holdings Corporation from moving its headquarters out of state. In an economy where businesses aren’t hiring many, it’s extra bad if the businesses you do have pack their bags and... Read more »

What the heck is the EITC?

A bunch of states are throwing around the idea of eliminating the Earned Income Tax Credit. Why do they want to get rid of it, and what is it anyway? Today, a simple primer on the credit–whom it’s for, what it does, why it works, and why it’s on the chopping block. More at chicagoreporter.com... Read more »

How poor folks get swindled at tax time

I saw two of them just this morning. Those tax guys in statue of liberty garb, waving their signs on street corners. Tax places seem to sprout up out of nowhere this time of year, filling any empty storefront they can find. “Get your refund today!” they cry, trying to replace something everyone hates (doing... Read more »