Latest updates for Illinois Estate Tax Reforms

Fresh curated links around Illinois estate tax reforms are collected here so marketers can spot useful updates and turn timely ideas into posts faster.

Recent items include:

  • Illinois Farm Bureau maintaining pursuit of estate tax reform
  • Illinois Enacts FY 2027 Budget with Significant State and Local Tax Changes
  • IDOR’s Proposed Liquor Tax Overhaul: A Return to the Same Unconstitutional Scheme the Illinois Supreme Court Already Str

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brownfieldagnews.com /4 weeks ago

Illinois Farm Bureau maintaining pursuit of estate tax reform

The president of the Illinois Farm Bureau says the organization remains committed to pursuing estate tax relief for the state’s farmers. Phillip Nelson, who farms in LaSalle County...

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natlawreview.com /2 weeks ago

Illinois Enacts FY 2027 Budget with Significant State and Local Tax Changes

On June 16, 2026, Gov. J.B. Pritzker signed Illinois’ fiscal year 2027 budget, including the revenue package enacted through Senate Bill 3019 (the Bill or the Budget). The legislat...

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illinoislawyernow.com /1 month ago

IDOR’s Proposed Liquor Tax Overhaul: A Return to the Same Unconstitutional Scheme the Illinois Supreme Court Already Str...

Illinois liquor distributors, importing distributors, manufacturers, RTD cocktail producers, and alcohol brand owners should be paying close attention to the Illinois Department of...

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taxprofblog.aals.org /1 month ago

Illinois Enacts Several New Digital Taxes

Illinois recently enacted just about every conceivable digital tax as part of the state’s budget legislation, including a: More detail below the fold. Michael Bologna (Bloomberg La...

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newsbtc.com /4 weeks ago

Illinois Crypto Tax Draws Industry Pushback After SB3019 Becomes Law

Illinois has enacted SB3019, introducing a 0.2% digital asset tax from 2027 and drawing criticism from crypto industry groups.

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illinoislawyernow.com /4 weeks ago

Illinois Just Became the First State to Tax Crypto Transactions. Here Is What Every Business Needs to Know.

This happened yesterday. On June 16, 2026, Governor J.B. Pritzker signed Illinois’ $56 billion state budget into law. Buried inside it was something the crypto industry never saw c...

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cointelegraph.com /1 month ago

Crypto tax in Illinois FY2027 budget is one step away from becoming law

The law, part of a budget plan passed by Illinois lawmakers, would put the burden of collecting a 0.2% tax on crypto transactions on a registered broker.Some digital asset industry...

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journalofaccountancy.com /1 month ago

IRS proposes increase in cost of estate tax closing letter

Proposed regulations issued Monday would raise the cost of the letter to $76, from the $56 set in 2025.

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financial-planning.com /1 month ago

The estate planning 'haircut' advisors should know about

A technicality in the federal law enacted in July 2025 changed how deductions work for estates and trusts, creating uncertainty over how taxes are allocated after a person's death.

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taxfoundation.org /1 month ago

Illinois’ New Social Media Tax Is a Shambles

Illinois plans to impose a complicated, legally fraught new social media tax based on a few pages of confused, contradictory, and almost laughably incomplete legislative text embed...

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crypto.news /1 month ago

Illinois lawmakers approve crypto tax with felony penalties

According to a fiscal year 2027 budget bill passed by the Illinois General Assembly, the state is moving forward with a new tax on cryptocurrency transactions that would apply to d...

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illinoislawyernow.com /1 month ago

Illinois Child Support Changes Coming In 2027

Illinois child support law is changing. Senate Bill 3524 amends Sections 505 and 510 of the Illinois Marriage and Dissolution of Marriage Act, which are the provisions that govern...

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illinoislawyernow.com /1 month ago

Illinois General Assembly Passes Illinois Hemp Act

On the final day of its 2026 spring legislative session, the Illinois General Assembly passed Senate Bill 3222, creating the Illinois Hemp Act governing hemp-derived products in Il...

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natlawreview.com /1 day ago

Wealth Tax Watch- A Mid-Year Update

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currentfederaltaxdevelopments.com /1 month ago

Tax Professional Alert: IRS Proposes Increase to Estate Tax Closing Letter User Fee

REG-103193-26, June 1, 2026 The Internal Revenue Service (IRS) has issued a notice of proposed rulemaking (REG-103193-26) that will directly impact tax practitioners and exe...

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illinoislawyernow.com /1 month ago

How Protected Is Your Spouse's and Children's Inheritance After You Are Gone?

Most Illinois families spend decades building wealth to pass on to their loved ones. This wealth might be in the form of retirement accounts, investment real estate, business inter...

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propertywire.com /1 week ago

Inherited property faces £120,000 tax bill under reforms

Property owners could face tax bills of nearly £120,000 on inherited homes under proposed capital gains tax reforms, according to analysis from Rathbones. The research examines the...

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taxprofblog.aals.org /2 days ago

Illinois Enacts First-of-Its-Kind Cryptocurrency Transaction Tax

Drew Hemmings, Doug Wick, David Zaslowsky & Matthew Musano (Baker McKenzie): Illinois Enacts First-of-Its-Kind Cryptocurrency Transaction Tax (Bloomberg Law) Illinois is the fi...

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illinoislawyernow.com /1 week ago

Illinois Adopts Amendments to Child Care Licensing; Provides Direction to Newly Organized Department of Early Childhood

Two years ago, the State of Illinois began the process of consolidating the operation and management of programs previously administered by the Illinois Department of Children and...

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wealthmanagement.com /1 month ago

Tax Increase Trend Should Inform Planning

Martin M. Shenkman and Joy Matak report on the legislative trend to increase taxes and recommend that practitioners discuss with clients this evolving estate-planning environment.

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illinoislawyernow.com /2 weeks ago

SB 3222 Dispensary Changes: The Illinois Operator’s Action Plan

SB 3222 dispensary changes are not a memo to file and forget — they move money. On June 12, 2026, Illinois rewrote big chunks of the Cannabis Regulation and Tax Act, and the result...

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illinoislawyernow.com /1 week ago

Can You Use an Illinois Small Estate Affidavit Instead of Probate?

Can You Use an Illinois Small Estate Affidavit Instead of Probate? In many cases, yes. Illinois law allows certain estates to transfer personal property through a small estate affi...

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taxprofblog.aals.org /1 week ago

Kalshi Sues Illinois to Nullify New Prediction Market Tax Law

Emily Hollingsworth (Tax Analysts): Kalshi Sues Illinois to Nullify New Prediction Market Tax Law Kalshi has filed suit in federal court to prevent Illinois from enforcing its new...

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currentfederaltaxdevelopments.com /1 month ago

The Application of New Section 68 to Trusts and Estates: Analyzing JCT Footnote 102 and Unresolved Ambiguities

IRC §68 as amended by the One Big Beautiful Bill Act, July 4, 2025 The One Big Beautiful Bill Act (OBBBA) fundamentally reshaped Section 68 by replacing the suspended Pease limitat...

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Sources covering Illinois Estate Tax Reforms

brownfieldagnews.com

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cointelegraph.com

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crypto.news

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natlawreview.com

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taxfoundation.org

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taxprofblog.aals.org

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