Illinois tax rebates will be issued next week
SPRINGFIELD, ILL (WICS/WRSP) — Many Illinois residents could soon see checks in the mail or extra money from a new income and property tax rebate starting Monday.
Under Governor JB Pritzker's Illinois Family Relief Plan, one-time individual income and property tax rebates will be issued to those who meet the criteria outlined in the plan.
Springfield resident Jodi Clark will be one of 5.3 million Illinois taxpayers benefitting from the tax rebate.
“I would benefit from it, the smaller amount but it’ll still work I mean it’s, that’s $50 or whatnot that I would not have before that kind of helps out with gas or anything, necessities around the house," Clark said.
Clark says with prices being so high, she is looking forward to receiving it.
“The way that the economy is at the moment, it’s beneficial to people, especially people with kids, people that need to buy diapers and things, just gasoline, the cost of gas right now is so high," Clark said.
According to the Office of the Comptroller, the income tax rebate calls for a single person to receive $50.
For those who file taxes as a couple, you can receive a total of $100.
Residents with children will receive up to $300 with $100 per dependent, with a maximum of three.
For property taxes, owners can receive a rebate equal to the property tax credit on their 2021 return up to $300.
“We’re working overtime, we’re going to get those rebate checks out as soon as we can. It’s just the sheer number of volume that we have to release it within that period," Kevin Schoeben, Assistant Comptroller, said.
To qualify, you must have been an Illinois resident in 2021 and meet the specific income criteria.
The income limit is $200,000 per individual taxpayer or $400,000 for joint filers.
“So earlier this year, there was a sales tax relief. There was also a relief on the grocery tax, there was a relief on the gas tax as well. So this is part of a bigger plan that the legislature and the governor wanted to do for the taxpayers," Schoeben said.
Schoeben said if you filed your funds electronically, you will be receiving a direct deposit instead.
For residents receiving both property and income rebates, Schoeben said the payment will come in one check.
He said the state is giving out $1.2 billion worth of rebates.
“I think that everybody can benefit from it, even if it is a small amount or large amount, it would be beneficial," Clark said.
The payment distribution is expected to begin on Monday.
Schoeben said it will take about six to eight weeks to process those checks and they will start that process on Monday.
To learn more about the criteria to see if you qualify visit the Illinois State website.
