Ask Terry Questions Illinois tax exemption for $10,200?

Illinois tax exemption for $10,200?

By Terry Savage on March 20, 2021 | Wild Card

State income is tax. Illinois will not allow you to take advantage of the law that was just passed not to be taxed on unemployment over $10,000.00?

Terry Says

Although Illinois agreed to postpone its state income tax deadline to May 15th to match the Federal government’s deadline extension (but estimates are still due April 15th), I have not seen any public reporting of a decision on whether they will let you deduct the $10,200 from state taxes. They are already so messed up that I have no idea how they would get organized to handle this, but check back for news! I’m watching for it.

money

ASK TERRY

a personal
finance question