Illinois Received Up To $700 Tax Rebates For Income, Properties

Residents from Illinois have received up to $700 in tax rebates since September. The payments consist of two different rebates: one for individual income tax and the other for property tax, says Brewster.

Tax Rebates

Since September 12, the first batch of tax rebates were distributed across the state of Illinois. The state approved the one-time payments to be distributed to its residents under the Illinois Family Relief Plan. The one-time payments consist of two different tax rebates: one for individual income tax and the other for property tax. On October 17, the deadline for submission of the necessary forms to qualify was announced. Only those who have filed their state taxes through the 2021 IL-1040 form will receive the tax rebates.

Who was eligible for these rebates?

According to Brewster, to be eligible for the individual income tax rebate, recipients must have been a resident of Illinois since 2021. Single filers must have an adjusted gross income in 2021 of less than $200,000 and couples who filed jointly must have less than $400,000. The amount of income tax rebate received for single filers is $50. For couples who filed jointly, they have received $50 each. Lastly, those who filed with dependents, they get an extra $100 every dependent, with a maximum of three dependents.

To be eligible for the property tax rebate, recipients must have been a resident of Illinois since 2021. Recipients must have also paid 2021 property taxes for taxes to primary residences in 2020. Single filers must have an adjusted gross income in 2021 of less than $250,000 and couples who filed jointly must have less than $500,000. The amount of property tax rebate received was equal to the property tax claimed on the 2021 tax returns. However, there is a maximum amount of $300 only.