tax returns

Statehouse
6:20 am
Tue April 22, 2014

Tax Returns Revealing ... But Not Revealing Enough

Lt. Gov Sheila Simon
Credit Illinois.gov

  Gov. Pat Quinn is the latest Illinois official to disclose his tax returns. They show he paid about $29,000 federal taxes, $7,700 in taxes to the state. Still, a lot of information about politicians' finances can remain hidden.

There's no law requiring politicians make their tax returns public, though they often do.

Lt. Gov. Sheila Simon says that's a positive thing.

"I think it shows that people are demanding more disclosure," she says.

But Simon says it doesn't go far enough.

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Election 2014
6:13 pm
Mon April 21, 2014

Quinn Releases Tax Returns; Rauner's Waiting

Credit Illinois Department of Revenue

 Gov. Pat Quinn has released his 2013 tax returns. They show basic information: like that his taxable income is $161,962.98.

That left him paying about $7,700 in state taxes, and about $29,000 to the federal government. Plus another $3,000 or so in property taxes.

But they also reveal some other insights.

As with last year, Quinn chose to put some of his refund to charity via Illinois' voluntary checkoff program: giving ten dollars to most causes, and $100 to the Military Family Relief Fund.

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Election 2014
4:40 pm
Mon November 25, 2013

Rauner Made $53 Million In 2012

Bruce Rauner's 2012 tax returns show he made more than $53 million in 2012, most of it from interest and capital gains.
Credit Brian Mackey/WUIS

One of the Republicans running for governor had a very good year in 2012. Bruce Rauner released his tax returns Monday, and says he made more than $53 million.

When people say, don't work for your money, make money work for you, this is what they're talking about.

Rauner's 2012 tax returns show he and his wife made almost all of their money on interest, capital gains, and real estate.

The line on his tax form for W-2s, where most people report "wages, salaries, (and) tips," shows zero dollars.

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