The Illinois Department of Revenue has issued the new income rates for individuals and businesses effective for income received on or after January 1, 2015.
The following is a summary of the rates:
For individuals, trusts and estates – new rate is 3.75% (decrease from 5% rate). For Corporations (excluding S-Corporations) – new rate is 5.25% (decrease from ... Read More ›The Department of Labor’s Employee Benefits Security Administration (EBSA) announced via Field Assistance Bulletin on December 8, 2014 that apprenticeship plans can pay expenses for skills competitions within reasonable boundaries. The costs to administer the plan may include skills competitions expenses such as those for transportation, accommodations, meals, and registration fees. These and other expenses ... Read More ›
The Affordable Care Act is quite complicated and contains pitfalls for unsuspecting employers both large and small. The Act was signed into law in 2010, and some parts have already taken effect. Other parts of the law will take effect over the next few years. In 2015, organizations with 100 or more full time equivalent ... Read More ›