Income and property tax refund checks have started arriving in Illinois – but how many residents are expected to see the financial relief arrive?
The one-time tax refund checks, part of Gov. JB Pritzker’s Illinois Family Relief Plan, will reach about six million qualified taxpayers, state officials say.
However, the payment process is expected to be lengthy, with distribution extending through late fall, according to a press release from the governor’s office.
Here’s what to know about the program, including who is eligible to receive a check, how long payments will take, how residents will be paid and more.
When could you receive your refund check?
State officials said the payments, which began issuing Sept. 12, could take at least eight weeks in total to be distributed.
If you did not receive a refund or if you received a refund by paper check, it may take longer for the refund to be issued, depending on state officials. Taxpayers who have not yet filed or submitted a Form IL-1040 will receive their refund upon review of the submission.
Comptroller Susana Mendoza said things “remain on schedule”, but September 12 only marks the start of the first wave of checks.
“My office will work diligently to ensure these refunds are in the hands of taxpayers,” she said in a statement. “After all, it’s your money. A total of $1.2 billion will be released over the next six to eight weeks for nearly six million taxpayers.
How much money could you get and who is eligible?
There will be two discounts. One is income taxes and the other is property taxes.
The income tax refund provides that a single person will receive $50, while those filing taxes jointly should receive a total of $100, the Mendoza office said in a news release. Residents with dependents will receive reimbursement of up to $300 – $100 per dependent, with a maximum of three.
Income limits of $200,000 per individual taxpayer, or $400,000 for joint filers, will be attached to the checks, officials said. To qualify, you must have been a resident of Illinois in 2021 and meet the income criteria. Those who have completed the IL-1040 2021 tax form will automatically receive their refunds.
Those who have not yet filed a personal income tax return and completed the form can still apply for their refund by completing the online form. Residents with dependents must also complete the 2021 Schedule IL-E/EIC form.
In addition to income tax refunds, some homeowners may receive additional assistance.
Qualifying homeowners will receive a refund equal to the property tax credit claimed on their 2021 Form IL-1040, with a maximum payment of $300. To be eligible, you must have paid 2021 Illinois property taxes on your primary residence and your adjusted gross income must be $500,000 or less if filing jointly. If you are filing alone, your income must be $250,000 or less.
The rebates will be distributed according to the method of sending your original income tax refund, according to the State of Illinois website. If you did not receive a refund, did not file an Illinois tax return, or are claiming the property tax refund separately, your refund will be mailed to you by paper check.
As is the case with income tax refunds, owners who have completed Form IL-1040 will automatically receive refunds. If you haven’t, you don’t have to worry.
Homeowners can still receive this refund as long as they complete Form IL-1040. To be eligible, you must submit the form by October 17.
How will you receive your refund?
According to officials, residents will receive their payment by the same method by which the original tax refund was sent.
How do you claim your refund checks?
For many, no action is necessary. But some may be required to fill out a form to receive their payments. Here is what the state said:
- For those who have filed state income taxes and claimed a property tax credit for 2021 and are not claimed as a dependent on another return, nothing more is needed to receive refunds property and income tax. Payments will be automatic.
- Taxpayers who have not filed or are not required to file their IL-1040 personal income tax returns for 2021 but only wish to claim the personal income tax refund should file Form IL-1040, including Schedule IL-E/EIC, Illinois Exemption, and Earned Income Credit, to report any eligible dependents.
- Taxpayers who have not filed or are not required to file their 2021 IL-1040 personal income tax returns but wish to claim both property tax and personal income tax refunds should file the Form IL-1040, including Schedule ICR, Illinois Credits, and Schedule IL-E/EIC, Illinois Exemption and Earned Income Credit, to report any eligible dependents.
- Taxpayers who only wish to apply for a property tax refund or who have not reported their property tax information on their 2021 IL-1040 Personal Income Tax Return have the option of completing Form IL-1040-PTR either by electronically, or by completing a paper form and sending it to IDOR. Form IL-1040-PTR, the Property Tax Rebate Form, is available on the IDOR website at tax.illinois.gov/rebates.
- Taxpayers eligible for both refunds will receive one payment. Refunds will be sent automatically using the same method the original refunds were submitted if they were sent directly to the taxpayer by the State of Illinois.
How can I check the status of my refunds?
For more information or to check the status of a rebate, visit tax.illinois.gov/rebates. Those who need it can also call (800)732-8866 Where (217)782-3336.