Residents in Illinois are set to receive up to $700 in tax rebates this week as part of the state’s family relief plan, which looks to provide financial support amid increased expenses in the state.
The tax rebates are part of a bill proposed by state Sen. Meg Loughran Cappel that set aside millions of dollars for residents who filed their taxes in 2021. Payments are set to begin going out over the next few weeks. However, 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,” said Cappel. “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.”
Those who have filed their 2021 taxes are currently eligible for a rebate of up to $700, but the amount each filer will receive will depend on each filling and how many dependents are claimed. Individual filers who 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 max of three dependents. Residents 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.
