Illinois Veterans - Tax Help
Two new tax laws affect Illinois veterans and their employers. The Returning Veterans Homestead Exemption gives qualifying veterans a one-time $5,000 reduction to their home's equalized assessed value. The Disabled Veterans Standard Homestead Exemption provides a reduction in a property's equalized assessed value for a veteran with a service-connected disability. Also the Veteran's Tax Credit is a new state income tax credit available to employers for every qualified veteran they hire.
Content received from: The Military Police Homepage, http://www.militarypolice.com