By the middle of next month, thousands of Illinois residents will see a one-time individual income tax and property tax rebates. In April 2022, Governor JB Pritzker approved the Illinois Family Relief Plan. To be eligible for the rebate check, residents must have paid Illinois property taxes in 2021 on their primary residences.
Those who qualify will receive a check equal to the property tax credit claimed on their 2021 IL-1040 form. However, the maximum amount for this case is $300. Recipients must fall under the income limit of $250,000 for individual filers and $500,000 for joint filers.
In addition to the tax rebate, Illinois families will also receive money based on their income tax. This rebate will be worth $50 for those who filed individually and $100 for joint filers. The maximum payment allotted for this program is $300. Those who claimed dependents will receive $100 for each with a maximum limit of three.
The distribution of the checks is to start on September 12, however, it will take around eight weeks to send them all out, according to the state’s Comptroller Susanna Mendoza.
These rebates will put “money back into the pockets of homeowners and families in the South Suburbs,” stated State Senator Michael Hastings.
The COVID-19 pandemic took a big chunk out of people’s wallets and just as things started to look like it was going to get better, inflation hit. States across the nation are trying to alleviate some of their residents’ financial burdens as inflation hit 9.1% which is the highest its been in 40 years.
A few weeks ago, Florida sent out checks worth $450 to adoptive and foster families in the state. In a letter, Florida Governor Ron DeSantis stated, “This one-time payment can be used for anything from buying diapers to fueling at the pump.”
In the upcoming weeks, thousands of taxpaying Hawaiian residents will receive a one-time tax rebate. People who annually make less than $100,000 will receive a check for $300. Anyone whose income threshold exceeds $100,000 but is under $200,000 will receive $100. A family of four could see a rebate worth $1,200.
Connecticut families had until July 31 to apply for child tax credits worth $250 per adolescent in the household. The maximum residents could receive is $750.
Thousands of Maine households are expected to receive a check for $850. Governor Janet Mills stated the rebates will continue to roll out until the end of the year.
Illinois property owners still have time to receive their tax rebate. All they have to do is fill out the IL-1040 form by October 17.
Written by Sheena Robertson
Sources:
The U.S. Sun: CASH IN HAND Exact date direct payments of up to $300 will be sent out next month – find out how much you’re due
FingerLakes1: Direct payments: Checks worth up to $600 for Illinois residents– When will they arrive?
The U.S. Sun: CHECKING IN New relief payments worth up to $600 go out in WEEKS – how long it will take your check to arrive
Top and Featured Image by 401kcalculator.org Courtesy of 401(K) 2012’s Flickr Page – Creative Commons License
Inset Image Courtesy of Ivan Radic’s Flickr Page – Creative Commons License
