Many Illinois residents could soon see checks in the mail or money in their bank accounts thanks to new income and property tax rebates this fall, but who is eligible?
In just a matter of weeks, residents across Illinois will start receiving tax relief rebate checks.
On Sept. 12, the state will start distributing one-time income and property tax relief payments, which were included in the Family Relief Plan, a part of Illinois Gov. J.B. Pritzker's budget signed into law earlier this year. Payments won't go out to everyone immediately, as distribution is expected to take an estimated eight weeks, according to Illinois Comptroller Susanna Mendoza.
Here's more information about each rebate, including who qualifies, payment amounts and what to do if you believe you're eligible, but haven't received one.
Who Qualifies for Each Rebate?
First and foremost, to be eligible, you must have filed taxes.
In regard to the Individual Income Tax Rebate, a person qualifies if they were an Illinois resident in 2021 and their adjusted gross income was under $400,000 if filing jointly or $200,000 if filing as a single person.
The Property Tax Rebate requires that recipients be Illinois residents who paid property taxes on their primary residence in 2021 and 2022. Their adjusted gross income must be $500,000 or under if filing jointly or if filing as a single person, $250,000 or less.
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How Much Will People Receive?
Individual Income Tax Rebate
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Anyone who filed taxes as a single person will receive $50. If you filed jointly, you'll be given a $100 rebate, $50 per person. Those with dependents will receive up to $300, according to the state comptroller's website. One-hundred dollars will be given for each dependent, with a maximum of three.
Property Tax Rebate
The rebate amount is equal to the property tax credit you were qualified to claim on your 2021 tax forms - up to a maximum of $300.
How Will Rebates Be Sent Out?
Rebates will be distributed in the method that your original income tax refund was sent, according to the state of Illinois website. If you did not receive a refund, did not file an Illinois income tax return or are requesting the property tax rebate separately, then your rebate will be sent by paper check.
What If I Haven't Filled Out the Appropriate Forms?
Those who filled out the IL-1040 and or IL-1040-PTR forms will receive rebates automatically. If you didn't, though, there's no need to worry.
Form submissions will be accepted through Oct. 17. To receive both the property tax and income rebates or just the income tax rebate by itself, you must file IL-1040, including Schedule ICR, Illinois Credits as well as Schedule IL-E/EIC, Illinois Exemption and Earned Income Credit.
If you're only looking to get the property tax rebate, you must complete form IL-1040-PTR.
If you didn't receive a refund or if you were given a paper check refund, it may take longer for the rebate to be issued, according to state officials. Taxpayers who have yet to file or submit a form will receive their rebate after the submission is reviewed.
What if You're Expecting a Rebate, But Didn't Get One?
First, double check you meet the requirements and that you've filled out the appropriate forms. For those who submitted an IL-1040 Form, the state of Illinois says to allow 90 to 120 days for your return to process, as well as an additional 5 to 10 days for the rebate to be approved.
Those who submitted the IL-1040-PTR form should allow 6 to 8 weeks for the form to process and an additional 5 to 10 days for rebate approval, according to a state website.
How Do I Check the Status of My Rebate?
You can see the status of your rebate by using the Where's My Rebate? application.
To use the application, you must have the following:
- Your name and Social Security number or taxpayer identification number
- Your 2021 adjusted gross income amount, Illinois Individual Income Tax Return, or Form IL-1040-PTR, Property Tax Rebate or your IL-PIN.
