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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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...
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...
Illinois liquor distributors, importing distributors, manufacturers, RTD cocktail producers, and alcohol brand owners should be paying close attention to the Illinois Department of...
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...
Illinois has enacted SB3019, introducing a 0.2% digital asset tax from 2027 and drawing criticism from crypto industry groups.
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...
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...
Proposed regulations issued Monday would raise the cost of the letter to $76, from the $56 set in 2025.
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.
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...
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...
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...
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...
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...
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...
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...
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...
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...
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.
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...
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...
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...
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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