Tax Rebates: Who is eligible to receive up to $600 in direct payments?

[ad_1]

In the upcoming weeks, millions of Americans can anticipate receiving some significant financial assistance. Due to new tax rebates, Illinois taxpayers will soon get checks in the mail.

The Illinois Family Relief Plan by Governor J.B. Pritzker was passed in April 2022.

This proposal provides one-time individual income tax refunds as well as rebates on property taxes for people who meet specific requirements.

The rebates are expected to be issued on September 12. Here’s how to determine your eligibility and how much money you can anticipate receiving.

How do I qualify to receive $600 in direct payments?

Residents must have paid Illinois property taxes on their primary residence in 2021 in order to qualify for the checks. Those who submitted the 2021 IL-1040 tax form will automatically be reimbursed.

Illinois citizens can still submit the form online to receive their rebate even if they haven’t submitted their individual income tax forms or filled it out yet.

All income taxpayers who file by October 17 will be eligible for rebate checks even though the 2021 tax filing deadline was April 18.

Residents who meet program requirements will get a refund equivalent to the amount of the property tax credit they claimed on their 2021 IL-1040 form.

The income tax credit is available to anybody earned less than $200,000. The cut-off for married couples filing jointly is $400,000.