Illinois families could receive one-time tax rebate worth up to $700 as soon as this week

Eligible residents in Illinois are set to receive up to $700 in tax rebates as soon as this week as part of the state's family relief plan that aims to provide financial support amid increased living costs in the state.

The tax rebates are part of the new Illinois Family Relief Plan, which was introduced as part of a proposed bill by state Sen. Meg Loughran Cappel. The plan allocates millions of dollars to go to residents who filed their taxes in 2021, with payments beginning to go out in the next few days. Those who have not filed their taxes have until Oct. 17 to be eligible for the relief payments.

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"From pandemic losses to the increased cost-of-living, families across the state are facing financial distress," Cappel said in a statement. "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."

Illinoisans who filed taxes in 2021 are eligible for rebates of up to $700, with amounts based upon each filing and the number of dependents. Individual filers making less than $200,000 will receive a $50 rebate, and couples making less than $400,000 will receive $100.

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Filers with qualifying children or relatives will receive an additional $100 per dependent for up to three dependents. Those who also paid 2021 property taxes on their primary residence and whose income is "less than $250,000 individually or $500,000" jointly are set to receive up to an additional $300.

"I want Illinois families to know they are not alone — we are in your corner to help you navigate this uncertain time," Cappel said. "These rebates will help people with everyday expenses, like gas and groceries. However, should you choose to use it for leisure, please shop local."

Original Location: Illinois families could receive one-time tax rebate worth up to $700 as soon as this week

 

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