Burlington, IL Weather. The average temperature of Burlington is 47.92Â°F, which is lower than the Illinois average temperature of 51.37Â°F and is much lower than the national average temperature of 54.45Â°F. Historical Weather.
Transactions of Interest. A transaction of interest is a transaction that is the same as or substantially similar to one of the types of transactions that the IRS has identified by notice, regulation, or other form of published guidance as a transaction of interest. It is a transaction that the IRS and Treasury Department believe has a potential for tax avoidance or evasion, but for which there is not enough information to determine if the transaction should be identified as a tax avoidance transaction.
Last week, the Illinois Supreme Court settled the question of how interest should be calculated on property tax refunds when it ruled on General Motors Corporation v. Pappas. This follows the Illinois General Assemblyâs amendment to the interest provisions specified in the Property Tax Code which became law in August 2005. For property tax refunds involving taxes paid prior to December 31, 2005, interest will be calculated at 5% through the end of 2005.