Illinois' Prepaid 2018 Taxes Will be Deductible

Good news for Illinois taxpayers who prepaid their 2018 taxes. The Treasury Department yesterday announced that homeowners who paid their 2018 property taxes before the end of the year will be able to claim a full deduction. The new federal tax reform package last year capped how much in state and local taxes that taxpayers can claim. In some parts of Illinois, particularly the Chicago suburbs, the changes threatened to cost some homeowners thousands of dollars.