Low-Income Illinoisans Could Be Eligible for $3,700 to $30,000+ By Filing 2020 Taxes

Lawndale News Chicago's Bilingual Newspaper - Business

Lawndale News Chicago's Bilingual Newspaper - Business

Many Illinoisans are eligible for thousands of dollars this year from missed stimulus checks and a variety of tax credits being offered or expanded due to the pandemic. All they have to do is file a 2020 tax return. Even people who are not required to file taxes, who have no earnings or who have not filed taxes in previous years may be eligible to receive these funds, and the Get My Payment IL Coalition is helping make the process easier for these individuals by connecting them to free tax-filing resources and working with them to understand which credits they are eligible for. The three main tax credits that low- and/or no-income Illinoisans may be able to claim to receive these benefits include the –

Recovery Rebate Credit (for missing stimulus checks) – Eligible Illinoisans who haven’t received their first and/or second stimulus checks or didn’t receive the full amounts, can still claim the Recovery Rebate Credit to receive up to $1,800 ($3,600 for married couples) and $1,100 for each eligible dependent under 17. Additionally, if an individual with a Social Security number did not receive the first two stimulus checks because their spouse had an ITIN, the individual may be eligible to receive them now by claiming the Recovery Rebate Credit.

Earned Income Tax Credit (EITC) – Eligible low-income workers can qualify for tax credits ranging from $538 to $6,660 through the EITC – even workers without children.

Child Tax Credit (CTC) – Through the newly-expanded CTC for 2021, individuals can receive up to $3,600 per child under age 6 and up to $3,000 per child between ages 6 and 17. For example, an individual with three children can receive between $9,000 to $10,800 by claiming this tax credit. The IRS will start issuing monthly payments of the credit starting in July; eligible individuals can receive up to half of their 2021 Child Tax Credit amount in 2021 and the other half when they file their 2021 tax returns.

To learn more about how to receive stimulus checks, other tax credit eligibility and where to get free tax-filing resources, visit GetMyPaymentIL.org. For those who do not have internet access or are not computer savvy, representatives are available via the hotline at 888-553-9777.

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