Illinois Stimulus Check 2022: Check when you will get direct payment worth $700

October 5, 2022 William Johnson Stimulus Check, US Local News 0

Illinois Stimulus Check 2022: Check when you will get direct payment worth $700

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TAX reimbursements of up to $700 will be going out to thousands of US citizens this month.

Illinois residents have two weeks to file last year’s tax return to receive their portion of the family relief plan, which goes out in the next few weeks.

These are a part of a bill supported by state Senator Meg Loughran Cappel.

The bill reserved millions of dollars in rebates for those who filed 2021 taxes in Illinois.

It aims to combat rising inflation in the state.

Senator Cappel said: “From pandemic losses to the increased cost of living, families across the state are facing financial distress.

“As a General Assembly, we recognized the daily struggles of hardworking people and passed a comprehensive plan to provide them with much-needed relief to help them get back on their feet.”

Qualifying residents can receive a payment of up to $700.

Rebate amounts are in direct correlation with the number of dependents.

An individual filer with a $200,000 yearly salary and no dependents will receive $50.

Joint taxpayers with a combined income of less than $200,000 are eligible for a $100 rebate.

Those eligible with children will receive an additional $100 per dependent.

Paying property taxes in the 2021 tax year, along with a salary of less than $250,000 for single and $500,000 for couples, will add an extra $300 to the total.

Americans looking only to receive the property tax rebate should only complete the IL-1040-PTR form.

The deadline to file for the property tax rebate is also October 17.

Officials have confirmed that both rebates will not be taxed.

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About William Johnson 260 Articles
Demystifying the world of finance is my mission. As a finance news writer with 7 years of experience, I've covered everything from breaking market news to in-depth analysis of industry trends. I'm here to keep you informed and empowered in your financial journey.