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Illinois Tax Law Changes

Right now, the United States House of Representatives and Senate have two different versions of a new “Tax Cuts and Jobs Act”. Since the GOP controls both chambers of Congress it seems inevitable there will be a compromise and this new tax bill will be signed into law before the end of the year. Most of the provisions in the bill take place after 2017. As we all wait to find out which Federal tax changes will become law, now is a good time to review the two big changes to Illinois tax law.Both happened over the Summer and you may remember them from the news coverage.

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