Saturday, August 27, 2016

Illinois News

As of July 1, 2016, Chicago's minimum wage is $10.50.

Beginning in January, 2017, ALL Illinois employers will be required to file quarterly IL-941s. The IL-941 has been changed for 2017, and now requires all payroll liability (state withholding liability) to be entered by pay period (pay date). The IL-941 (and all other IL returns, including Sales Tax returns and Unemployment returns) will require the PTIN of the paid preparer on the forms. Failure to include the PTIN on any of the forms can result in fines and/or penalties for both the employer and the paid preparer.

Payroll tax deposit requirements will be the same as those for the IRS (monthly or semi-weekly).

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