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Illinois taxpayers face key changes as filing season enters second week

By FOX 32 News
Published  February 5, 2024 8:47pm CST
Illinois
FOX 32 Chicago

IRS tax changes for 2024, what to know

We are one week into the tax filing season, and whether you plan to file your tax return early or prefer to wait a while before filing, reviewing key tax changes that may affect your tax bill is essential.

CHICAGO - We're one week into tax filing season, and taxpayers are facing some key changes.

Those changes could make a difference in what they owe or what they're getting back. There are new tax brackets, adjusted a little higher because of inflation. Standard deductions are also up for the same reason, and the possibility of a mid-year change to the child tax credit may affect this year's tax filings.

FOX 32 Chicago asked a tax attorney what to do if you worked in Illinois in 2023, but didn't live here.

"You still should be filing an Illinois 1040 individual income tax return if you're not living in Illinois. Regardless, you still need to file it along with a non-resident. It's called Schedule NR," said Shanna Marcus of Tax Defenders.

The Schedule NR shows proof that you didn't live in Illinois or lived there part-time, so you only pay state tax for the amount of time you lived in Illinois.