The Next Stimulus Checks In Illinois: Who Should Expect One And When
While Illinois families continue to feel the wrath of absurd gas prices, sky-rocketing food costs, and shortages, with very little relief, another round of stimulus checks is coming. This may slightly ease the financial struggles for some but is it a "too little too late" situation for others? It appears as though these checks won't be as much as previous.
Surely those in the same tax bracket as Illinois Governor JB Pritzker have not lost sleep over how they would afford to fill up the gas tank to head to work. That isn't a political statement, it's the fact that many families in Illinois were blindsided by astronomical fuel costs and inflation that followed.
This isn't only a Land Of Lincoln problem, it's nationwide. Eight states will be sending out another round of stimulus checks for residents. But who will qualify, how much should they expect, and when will the stimulus checks start hitting bank accounts?
Again, this is a state-issued stimulus check.
When our residents are feeling the weight of buying food, gas, and making ends meet, Illinois acts to ease the burden. - Lieutenant Governor Juliana Stratton
The $1.83 billion relief package went into effect July 1, according to Newsweek, and includes income and property tax rebates for Illinois taxpayers.
Here's what you need to know about the property tax rebates.
The property tax rebate is up to $300. It's equal to the tax you were qualified to claim in 2021. To qualify you must be an Illinois resident who paid Illinois property taxes in 2021 on your primary residence in 2020. Also,
your adjusted gross income on your 2021 Form IL-1040 is $500,000 or less (if filing jointly) or $250,000 or less (if filing as a single person).
Here's what you need to know about the income tax rebates.
This income tax rebate will be $50 If you filed as a single person in 2021 or $100 if you filed married jointly
If you have dependents, you will receive up to $300 ($100 per dependent, with a maximum of three).
To qualify for this rebate you must have been an IL resident in 2021 with an adjusted gross income under $400,000 (if filing jointly) or under $200,000 (if filing as a single person), 2021.
How to claim the rebate and when should you expect it?
If you filed your 2021 IL-1040 and (for property owners) Schedule ICR, you will receive the rebate automatically. If you didn't or want more information you'll find it here.
As for when to expect that money to hit your bank account?
You may be eligible to receive one or both of these rebates, which are expected to begin being issued the week of September 12.