News

Many taxpayers pay more than required

Many taxpayers pay more than required

THE TAX MAN: With the filing deadline looming, experts say many Americans aren't getting the most bang for their buck. Photo: Associated Press

Are you giving the government more money than you owe it?

H&R Block senior tax adviser Richard Gartland says his company conducted a survey that found about half of the people who prepare their own taxes had some kind of inaccuracy in their return, and “half of those folks were leaving money on the table.”

Gartland says it’s because they missed out on tax breaks – deductions they were eligible for and didn’t take, or credits that they were eligible for and didn’t apply for.

He says many just take a standard deduction because it’s easier, but life changes – like marriage, birth of a child, buying a house — usually mean you should claim deductions. As Gartland puts it, “For every big milestone in life there’s a related milestone in your taxes.”

Recent Headlines

5 hours ago in Local

Illinois Woman Sentenced for Health Care Fraud

gavel2

Ann Marie Sheppard of O'Fallon was sentenced this past week. The first six months of her probation will be served in home confinement.

5 hours ago in Local

Bill Seeks to Ban Drones From Flying Near Prisons

FILE - This March 12, 2014 file photo shows a drone landing after flying over the scene of an explosion that leveled two apartment buildings in East Harlem in New York. Brian Wilson, the owner, says he uses the aerial drone to document buildings, weddings and news events. The Federal Aviation Administration bars commercial use of drones no matter how seemingly benign. Officials say rules to address the special safety challenges associated with unmanned aircraft need to be in place before they can share the sky with manned aircraft and final regulations could be years away. But tempting technology and an eager marketplace are outrunning the aviation agency's best intentions. Photographers, real estate agents, moviemakers, and others are hurrying to embrace the technology.

The bill, sponsored by Sen. Tim Bivins, seeks to prevent drones from flying over prison yards and dropping packages containing drugs, pornography, razorblades and other contraband, which has happened in other states.

5 hours ago in Local

Officials Delay Decision on Delavan Armory

wtax 011015

Officials met Monday in Delavan and decided to delay a decision on the building's future until June, when they will have more information on various options.

5 hours ago in Local

Water Monitors to Test Quality of Bloomington Lakes

bloomington

Stations will be installed in creeks flowing into Lake Bloomington and Evergreen Lake this spring.

5 hours ago in Local

Voter Registration Deadline Ahead for March 15 Primary

I Voted Stickers

The Illinois primary election is March 15.