Illinois residents have two weeks to file their 2021 taxes to receive up to $700 in tax rebates as part of the state’s family relief plan.
The tax rebates are part of a bill, backed by state Sen. Meg Loughran Cappel, that set aside millions of dollars for those who filed their taxes in 2021, aiming to provide financial support amid increased expenses in the state.
Payments are set to begin going out over the next few weeks. Those who have not yet filed their taxes have until Oct. 17 to still receive the payment.
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“From pandemic losses to the increased cost-of-living, families across the state are facing financial distress,” Cappel said. “As a General Assembly, we recognized the daily struggles of hardworking people and passed a comprehensive plan to provide them with much-needed relief to help them get back on their feet.”
Eligible residents who have filed their 2021 taxes are currently eligible for a rebate of up to $700, but the amount received depends on each filer and the number of dependents claimed.
Those filing individually and make less than $200,000 will receive a $50 rebate, while joint filers making below $400,000 will be given $100.
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Filers will be able to receive an additional $100 per dependent for a maximum of three dependents. Those who paid property taxes in 2021 on their primary residence and make less than $250,000 individually, or $500,000 jointly, will be awarded an additional $300.
Illinois is one of many states seeking to provide financial relief to residents amid high inflation.
