(CHICAGO) A northwest suburban real estate appraisal executive pleaded guilty Wednesday to failing to pay more than half a million dollars in income taxes.
William Daddono, 59, pleaded guilty to one count of willfully attempting to evade and defeat the payment of federal income tax, according to a statement from the U.S. attorney’s office.
Daddono, owner of Schaumburg-based Advanced Appraisal Group and American Appraisal Consultants, admitted in the plea agreement that he failed to pay taxes on more than $1.92 million from 2005 to 2010, prosecutors said.
He tried to conceal his earnings in a corporate account under the name of a defunct business he previously owned, according to the U.S. attorney’s office. His unpaid taxes amounted to more than $550,000.
Daddono, who lives in Palatine, is scheduled to appear before U.S. District Judge Sharon Johnson Coleman June 10 for a sentencing hearing, prosecutors said. His conviction carries a maximum sentence of three years in prison and a maximum fine of either $250,000 or twice the gross gain or loss from the offense.
Just when you thought the tax hikes were done for now, Cook County President Toni Preckwinkle has proposed two more tax increases on top of the penny-on-the-dollar county sales tax hike previously approved.
At the Cook County Board Meeting, Preckwinkle proposed to slap the 3% county amusement tax on a round of golf, bowling and cable TV.
“It’s very modest, it’s very modest,” Preckwinkle said.
She argues, don’t blame her.
“In this state, for a very long time, we have not met our obligations and responsibilities and so people who have the misfortune to be in executive positions now are struggling with challenges that have been bequeathed to them by their predecessor’s inaction, inability [and] irresponsibility.”
Listen to Bill Cameron’s WLS radio news report here:
Another new proposed county tax is on e-cigarettes.
One of the tax hikes you hated the most may be making a comeback.
Listen to Bill’s report here:
Remember the widely hated Todd Stroger sales tax hike? County Board President Toni Preckwinkle rolled it back but now county finances are so dire, Cook County Commissioner Bridget Gainer (10th) tells Bill Cameron that raising the sales tax again is back on the table.
“To say it’s not on the table is silly because like I said there’s only a couple of things you can really look at,” Gainer said. ” I mean 80-percent of the budget at Cook County is personnel. We have 20,000 employees so it’s correctional officers at the jail, it’s nurses at the hospital, it’s people at the clinics.”
Meanwhile, Gainer says the recent “bro with no ho” remark made by U.S. Sen. Mark Kirk is ridiculous, crass and crazy.
The head of the Republicans in the Illinois Senate is telling WLS her party is open to an income tax increase, but only if Illinois Government is reformed. Lemont State Senator Christine Radogno told “The Big John Howell Show” on WLS, that reforms must come before revenue. “I think that people might be open to that but certainly not if there’s no reform to put the brakes on spending. That’s the only way extra money is going to solve the problem, and Democrats are absolutely uninterested in that” Radogno said.
LISTEN to State Senator Christine Radogno on “The ‘Big’ John Howell Show” here.
The majority Democrats in the Illinois House and Senate are advancing a $36.3 billion dollar budget that Republicans say has a three billion dollar deficit. Democrats have voted down a series of measures that they say represent budget cuts Republican Governor Bruce Rauner wants to make. Republicans say those votes are a sham and are designed not to give the measures a fair hearing, but to score political points. Rauner has said Illinois needs structural reform in areas such as workers compensation, limiting large jury awards in civil lawsuits, and giving local communities the right to limit unions.
It appears the legislature will miss Sunday’s deadline to adjourn it’s spring session, which means a long summer overtime session is likely.
(CHICAGO) A judge sought to end the snit Thursday between TV pitchman Kevin Trudeau and a receiver put in charge of Trudeau’s assets nearly two years ago, the Chicago Sun-Times is reporting.
Trudeau, who is in prison in Alabama, has complained through his attorneys that the court-appointed receiver had failed to file tax returns for Trudeau, his wife or 19 of Trudeau’s purported businesses. But the receiver countered that Trudeau had refused to turn over control of those businesses, claiming “he either lacked control over them or the entities were empty shells with nothing to turn over.”
U.S. District Judge Robert Gettleman shot down a Trudeau motion Thursday that sought to force the receiver to file the tax returns.
“The receiver can only file returns for those assets it has in its possession,” Gettleman said.
And as for Trudeau’s personal tax returns, the judge later added, “if he had assets or income that he didn’t report, that’s his problem, not mine or the receiver’s.”
The self-improvement guru has been accused of defying Chicago’s federal courts for more than a decade. U.S. District Judge Ronald Guzman called Trudeau “deceitful to the very core” when he sentenced Trudeau last year to 10 years in prison after a contempt conviction.
Gettleman also noted Thursday that, “Mr. Trudeau’s income was not exactly an easy thing to track down.”
(SPRINGFIELD) Lawmakers in the Illinois House are resurrecting a so called “Millionaire’s Tax.”
Listen to Nick’s report here:
A House committee has approved an amendment to the Illinois State Constitution that would place and extra three percent stae tax on income above a million dollars. The money, according to House Democratic Majority Leader Barbara Flynn Currie, would go to schools.
“This tax would bring in about $1 billion a year. That translates into close to $500 per student across the public education system in Illinois,” Currie said.
Opponents argue a tax on millionaires is a tax on success and would drive job creators out of Illinois. It’s unclear if the proposal will go anywhere in the State Senate – but if it were to pass in Springfield, it would ultimately be up to voters.