Tax Day 2024 and How to Get an Extension from the IRS
Tax Day is on Monday, Apr 15, 2024. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!
Brushing up or learning Illinois state taxes? Here is a one-stop source.
Withholding Requirements
Local Taxes:
Chicago Employer Expense Tax - $2 per month per employee and commission merchant (in excess of 49). As of January 1, 2014 this has been phased out. State Unemployment Insurance (SUI):Register as employer by filing Form UI-1 (Report to Determine Liability)Report quarterly wages and contributions by filing Form UI-3/40 Employer's Contribution and Wage Report) by last day of month following end of quarter.
Wage base is $12,960 for 2016.
Rates range from 0.55% to 7.75% for 2016.
New employers use 0.55% for 2016.
New construction employer should use 4.15% for 2016.
Rates include the 0.550% fund-building factor.
State Disability Insurance:
None.
State Labor Laws:
Minimum Wage - $8.25
Termination Pay - Fired/Quit - next regular payday.
New Hire Reporting:
Employers must report hiring, rehiring, and return reporting to work within 20 days on New Hire Reporting Form to: Illinois New Hire Directory
P.O. Box 19473Springfield, IL 62794-9473312-327-4473217-557-1947 (fax)
Remit Withholding for Child Support to:
Illinois State Disbursement Unit
P.O. Box 5400 Carol Stream, IL 60197-5400877-664-5738
Reciprocal States:
Iowa, Kentucky, Michigan, Wisconsin.
For paycheck calculations, visit the paycheck calculator of PaycheckCity.
Tax Day is on Monday, Apr 15, 2024. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!
IRS has updated tax brackets for 2024. See how this affects your first paycheck this year!
Check out the updated 2024 Federal benefit limits for 401(k), HSA, and simple IRA, and more. Stay informed and plan your finances with confidence!