The income tax rebates, which will be sent out over the next few months, will be $50 for individual filers and $100 for married couples who file jointly. The rebate can be as much as $300 if the filer has dependents, with $100 per dependent and a maximum of three dependents to claim.Illinois residents who are eligible for the income rebate must have made less than $200,000 in income in 2021 and less than $400,000 for joint filers.
The property tax rebate is valued at a maximum of $300, with the exact amount determined by the property tax credit amount a taxpayer qualified for in their 2020 taxes. Eligible residents include those who paid 2020 taxes on their primary residence in the state and made less than $250,000 in income in 2021 or less than $500,000 for joint filers.
Both rebates will be automatically sent out to taxpayers if they have filed all 2021 state tax forms. Taxpayers who do not have all forms submitted may need to file additional paperwork to receive rebates. The state said the rebate will not effect state taxes for 2022 but may affect federal taxes for residents for 2022.The rebates will be sent out in the same way residents received their 2021 tax refunds, either via paper check or direct deposit.