Most Illinois taxpayers will be getting tax rebate from state; here’s everything you need to know

September 13, 2022 | By Satchel Price, Chicago Sun-Times

Taxpayers who filed their tax returns as a single person will be eligible to receive $50. Couples who filed joint returns are eligible to get $100. | Photo courtesy of pexels.com

Most Illinois taxpayers will soon be getting onetime income and property tax rebates from the state.

Distribution of the money to qualifying residents started Monday, but state officials say it could take eight weeks to get money to everyone who’s eligible.

Here’s everything else you need to know about the rebates:

Income tax rebates

Who qualifies? You must have been an Illinois resident in 2021 with an adjusted gross income on your 2021 Form IL-1040 filing under $200,000 for individual filers and under $400,000 for those who filed as couples.

How much is the rebate? Taxpayers who filed their tax returns as a single person will be eligible to receive $50. Couples who filed joint returns are eligible to get $100. If you have dependents, there’s an additional $100 per dependent, to a maximum of $300.

Property tax rebates

Who qualifies? Illinois residents who paid state property taxes in 2021 on a primary residence in 2020. Your adjusted gross income on your 2021 Form IL-1040 must be under $250,000 for individual filers and under $500,000 for those who filed as couples.

How much is the rebate? It depends. It will be “equal to the property tax credit you were qualified to claim on your 2021 IL-1040,” up to $300.

How do I get the money?

Taxpayers who filed 2021 Form IL-1040 and Schedule ICR don’t need to do anything. If you got an income tax refund, the state will send the rebate the same way you received that. If you didn’t get a tax refund, the state will mail a check to the address on your tax return.