The Illinois Appellate Court, First District, affirmed on November 9, 2006, the Circuit Court of Cook County's grant of summary judgment in favor of the plaintiff after the Illinois Department of Revenue (Department) issued a notice of deficiency against her for alleged failure to report over $20 million in partnership income.
The Property Tax Appeal Board (Board) has added section 1910.79 and amended section 1910.95 of 86 Ill Adm Code 1910, effective September 29, 2006, in order to "streamline and expedite the appeal process" for appeals on property assessments of $1 million or more.
The Property Tax Appeals Board (Board) has amended sections 1910.67 and 1910.90 to 86 Ill Adm Code 1910 to reflect that although property tax appeal hearings are generally open to the public, the board or its officers can now close all or parts of hearings in order to protect private information from being disclosed.
In order to clarify existing procedures and add a new deadline extension for submitting rebuttal evidence, the Property Tax Appeal Board has amended and added to Part 1910 of Title 86, 86 Ill Adm Code 1910, effective February 15, 2006.
The Illinois Property Tax Appeal Board has amended Part 1910 of Title 86, 86 Ill Adm Code 1910. The Board has added new sections and amended the Part with regard to motions, notice and consolidation of appeals.
Casting a shadow over a popular tax avoidance device, a recent case disallowed an estate tax break for a decedent who maintained too much control over the business he transferred to his family limited partnership.
On December 2, 2004, the Illinois Supreme Court reversed the orders of the appellate and circuit courts, which reversed the Illinois Department of Revenue's (Department) holding that the property in question was not tax exempt.
The Department of Revenue recently adopted amendments to the Real Estate Transfer Tax, 86 Ill Adm Code 120. Effective October 13, 2004, the changes affect sections 120.5, 120.10, and 120.20 of the code.