Illinois residents must file their 2021 taxes today to claim up to $700 in tax rebates, aimed at providing financial support amid high inflation rates.
The tax rebates are part of the state’s Family Relief Plan, part of a bill introduced by state Sen. Mary “Meg” Loughran Cappel and passed by the state legislature earlier this year.
The bill allocates millions of dollars to help with increased costs caused by the pandemic and rising costs of living for those who filed their taxes in 2021. Monday is the deadline for eligible residents to file last year’s taxes to receive the funds.
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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.”
The amount each resident receives will vary depending on the filed taxes and income. For those filing individually and making less than $200,000 annually, they will receive a $50 rebate, while joint filers making less than $400,000 a year will receive $100.
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Filers can receive an additional $100 per dependent for a maximum of three dependents, according to the plan. 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.
