Governor Releases Five-Year Economic Plan |
Governor Pritzker has released his “Plan to Revitalize the Illinois Economy and Build the Workforce of the Future.” It’s an economic strategy for Illinois that builds on the state’s strongest sectors, such as agriculture, health care, and transportation, with the goal of expanding prosperity throughout the state by fostering job creation, improving wages, building greater equity, and attracting and supporting businesses. |
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State Public Safety Pension Task Force Issues Report |
The Pension Consolidation Feasibility Task Force recently issued its report and recommendations to include mandatory consolidation of the more than 650 police and firefighter investment funds. The multiple funds would be consolidated into two separate statewide funds (one for police and one for firefighter) maintaining separate accounts for each community’s pension fund and having equal labor-management board governance. It is anticipated that the consolidation will result in greater investment income and savings through economies of scale. |
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Illinois Judicial Ethics Committee Releases Judicial Campaign FAQs |
Due to the unique campaign rules for judges, and knowing that CPAs are asked to serve as campaign treasurers, the comprehensive FAQs recently released by The Illinois Judicial Ethics Committee—a joint committee of the Illinois State Bar Association, the Chicago Bar Association, and the Illinois Judges Association—may be beneficial now and in the future.
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IDOR Announces 2019 Annual Tax Practitioner Meeting |
The Illinois Department of Revenue will host the 2019 Annual Tax Practitioner Meeting on Tuesday, Nov. 19, 2019 at Loyola University, Water Tower Campus, Corboy Law Center in Chicago. Continuing education credits are available and awarded by the Illinois CPA Society. There is no cost to attend but registration is required.
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IRS Releases Final Regulations on Federally Declared Disaster Losses |
The Internal Revenue Service released T.D. 9878, setting forth the rules and procedures for making and revoking the election to accelerate the timing of a loss sustained by a taxpayer attributable to a federally declared disaster.
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