What If I Didnt File A Tax Return Or Claim Property Taxes
To receive the rebate checks, taxpayers must file an Illinois tax return, even if they havent normally been required to.
If you did not claim property taxes on your tax return, you can complete form IL 1040-PTR to be eligible. Once filling out the form, you have until October 17th to mail into the IL Department of Revenue or submit electronically through MyTaxIllinois.
When Could Stimulus Payments Start
Following approval of the bill on March 11th, millions of Americans will start seeing the third stimulus payments by mid-to-late March 2021 per the estimated IRS payment schedule and official Biden administration guidance. Comments below confirm these are going out now. You can also check the IRS Get May Payment tool for the latest status of your payment. See payment FAQs from the second round of payments, which will also apply for the most part this time around.
Due to the fact that payments are going out in the middle of tax season it may be very hard to get a hold of someone in the IRS to help with payment issues and you will likely have to wait until after April 15th to follow up on issues.
Injured Spouse Claim And Spousal Claims
The IRS also stated that If you are married filing jointly and you filed an injured spouse claim with your 2019 tax return , half of the total payment will be sent to each spouse and your spouses stimulus check payment will be offset only for past-due child support.
There is no need to file another injured spouse claim for the payment. I have received dozens of comments on this this, so hopefully this answers the questions many have had based on official IRS guidance.
Note that if you were current with your child support payments at the time of the stimulus eligibility determination but fell behind afterwards due to a COVID-19 related job loss, you would still be eligible to get the full stimulus payment.
Updating Direct Deposit Information
This question has come up a lot in the hundreds of comments to this article. The IRS has setup a portal for individuals to provide their updated banking information to receive payments via direct deposit as opposed to checks in the mail.
The IRS does recommend that 2018 Filers who need to change their account information or mailing address, file 2019 taxes electronically as soon as possible. That is the only way to let us know your new information..
You May Like: Was There Any Stimulus Checks In 2021
Basic Income In Virginia
The city of Alexandria, Virginia, opens its new no-strings-attached $500 monthly direct payment program on Monday.
The ARISE program plans to randomly select 170 people in a lottery system for the payments, which will continue for two years.
The first check is expected to be issued in January 2023.
To be eligible, residents must be 18 or older and have an income at or below 50 percent of the area median income.
For a household of one, thats $49,850.
Who Is Getting A Massachusetts Tax Refund
Under chapter 62F, excess revenueâwhich includes money received from sales, income and other taxesâmust be credited back to taxpayers. To do that, Massachusetts has settled on issuing payments to those who had an income tax liability for 2021.
âThat point is controversial,â according to McAnneny. She says some legislators would have liked to find a method to redistribute money in a way that would be more beneficial to lower-income residents.
However, section 6 of the law states: âThe credit shall be applied to the then current personal income tax liability of all taxpayers on a proportional basis to the personal income tax liability incurred by all taxpayers in the immediately preceding taxable year.â
In other words, a 2022 surplus needs to be sent back to taxpayers based on how much income tax they paid in 2021.
You May Like: Where’s My Stimulus California
Fourth Stimulus Check Approved In 14 States
As inflation continues to rise, many states have begun sending out aid to their taxpayers. Recently, over 14 states have approved a fourth stimulus check. However, this stimulus check will not follow the COVID-19 pandemic relief measures Americans have seen previously. These payments will exude a wide variety of monetary payouts and targeted locations. Government officials are aiming to ease the financial burdens brought on by COVID-19 and inflation.
Illinois Property Tax Rebates
The 2022 Illinois property tax rebate is equal to the property tax credit claimed on your 2021 Illinois tax return, up to a maximum of $300. To qualify for the rebate, you must be an Illinois resident who paid state property taxes in 2021 on your primary residence for 2020. In addition, the adjusted gross income reported on your 2021 Illinois tax return can’t exceed $250,000 .
You also had to file your 2021 Illinois income tax return ) with a claim for the property tax credit on Line 16 and Schedule ICR attached by October 17, 2022, to get an automatic property tax rebate. If you didn’t file Form IL-1040 and Schedule ICR, then you had to submit a property tax rebate form by October 17.
Read Also: What Was The Amount Of The Third Stimulus Check
Illinois Residents To Receive August Stimulus Check
It may come as no surprise that some residents are struggling to pay for common necessities due to the rise of inflation that continues to increase across the country. Though the price of gas has gone down in some states, the cost of housing and food still remain higher than average. Citizens of eight states across America can expect to receive a stimulus check in the near future to offset the cost of recent inflation prices. According to Newsweek, Georgia, Illinois, Minnesota, Hawaii, Delaware, Florida, Indiana, and New Mexico will receive checks to help cover the cost of housing, gas, and food.
Newsweek detailed that this is the “second consecutive quarter of economic contraction” that America has seen this year. The situation has not been labeled as a recession, though it represents similar analytical tendencies. Thankfully, Illinois is one of the few states that will receive inflation aid this month.
As part of the Illinois Family Relief Plan put in place by Governor J. B Pritzker on July 1, Illinois residents can receive income and property tax rebates this month. Qualifying residents can expect to receive up to $300 depending on information provided by their 2021 tax return.
“Amid historic rates of inflation, the people of our state deserve to know that they are not on their own. We are with them,” Lieutenant Governor shared. “When our residents are feeling the weight of buying food, gas, and making ends meet, Illinois acts to ease the burden.”
How Will Rebates Be Sent Out
Rebates will be distributed in the method that your original income tax refund was sent, according to the state of Illinois website. If you did not receive a refund, did not file an Illinois income tax return or are requesting the property tax rebate separately, then your rebate will be sent by paper check.
Recommended Reading: Stimulus Check For Ssi Recipients
Will You Have To Pay Back Money From A Previous Stimulus Check
You might. Heres why: Some people were sent stimulus checks by accident. Whoops! We knowimagine the government making a mistake, right? Heres why you might need to send your money back:
- You make more than the income limit required to receive the stimulus money.
- You were given a check for someone who has died.
- Youre a nonresident alien.
- You dont have a Social Security number.
- You were claimed as a dependent on someone elses tax return.
If you know one of these applies to you, the IRS expects you to find the error and send the money back to them.14 So go ahead and be honest . You dont want any surprises when you go to file your taxes.
Fourth Stimulus Check Coming Now
Lets start with the second half of that intro new checks going out now to California residents.
This new round of payments under Californias Golden State Stimulus II initiative will benefit millions of state residents. An estimated nine million Californians, to be exact. Taxpayers who have California adjusted gross income of $1 to $75,000 for the 2020 tax year and who their state tax return by October 15, 2021 are eligible for the Golden State Stimulus II, the website for the California Franchise Tax Board explains.
The states federal pandemic funds, as well as a $75.7 billion state budget surplus, are whats been funding these checks. The state has allocated $480 million to the Golden State Stimulus II effort. And the franchise tax board is the agency thats sending it all out.
You May Like: Status On 4th Stimulus Check
Maine Also Has Relief For Its Residents
States continue to deliver targeted help to their populations in the absence of federal stimulus funds. Maine is one of the states that has either sent or is in the process of delivering stimulus payments. Gov. Janet Mills is pushing for a $250 increase in the inflation stimulus check. After the state commission predicted an increase in state income, Mills decided to boost the amount of the inflation stimulus checks.
Following a meeting of the state’s revenue forecasting panel on Tuesday, Mills revealed her intention to increase the amount of the inflation stimulus checks. Through June 2023, the panel estimates an extra $411.6 million in revenue. The commission had previously estimated the state’s income to be $822 million.
Mills opted to increase the state’s inflation stimulus check to $750 by half of the expected gain in income. If the state legislature accepts Mills’ supplementary budget plan, the inflation stimulus check would begin to be sent in July to nearly 800,000 Maine citizens, as per Entrepreneur.
Illinois Income Tax Rebates
To qualify for the Illinois income tax rebate, you had to be an Illinois resident in 2021 and the adjusted gross income on your 2021 Illinois tax return must be under $200,000 . The size of your income tax rebate depends on your filing status and the number of dependents claimed on your 2021 Illinois tax return. Each qualifying person gets $50 , plus $100 per dependent for up to three dependents. So, for example, a qualified married couple with three children will get a $400 income tax rebate. If you add on a $300 property tax rebate, they could get as much as $700.
You also had to file your 2021 Illinois income tax return with Schedule IL-E/EIC if you have dependents by October 17.
Don’t Miss: When To Expect Stimulus Checks
Do You Need To Apply For The Rebates
If you filed your state taxes, primarily done through a 2021 IL-1040 form, then no further action is needed and the combined rebates will automatically be sent to you.
If you did not file a 2021 IL-1040, including those who were not required to, you have until October 17 to get it to the Illinois Department of Revenue .
- For the income tax rebate, if you have dependents, you must also complete / have completed a Schedule E/EIC.
- For the property tax rebate, you needed to have filed both the 2021 IL-1040 and a Schedule ICR. In lieu of those two documents, a special Property Tax Rebate form can be filed either electronically or through a paper submission. Instructions for the IL-1040-PTR can be found here.
What About On Social Security Or Ssdi
Social Security recipients, disability , Survivor Beneficiaries and Railroad Retirees who are not otherwise required to file a tax return will also be eligible for the stimulus payments, as long as their total income does not exceed the eligibility income limits above. The IRS in conjunction with the Treasury and Social Security Administration announced that recipients of Supplemental Security Income will automatically receive the $1200 Stimulus Check . See details here. This group of recipients will receive the stimulus check the same way they currently get their federal benefits in early May with no further action needed on their part.
However note that because the IRS has no information regarding dependent data for this group of recipients, the $500 kid dependent stimulus payment would not be automatically paid to this group. They need to use the non-filers tool on the IRS website to claim this.
Recommended Reading: How To Find Out If You Get Stimulus Check
Millions Owed $3600 From Unclaimed $37billion Continued
Americans must file their taxes within three years to claim refunds.
For those who arent required to file taxes because they dont make enough money, the GetCTC portal has reopened.
The portal is free to use and does not require any tax documents.
Additionally, the tool allows you to claim a third stimulus payment if you havent done so already, which is worth $1,400.
The form will take roughly 15 minutes to complete.
If Youve Moved Since You Filed Your 2019 Or 2020 Taxes
If youve moved since you filed your 2020 or 2019 taxes but the IRS has your bank account information for your refund, you should still get a direct deposit in your account.
If the IRS doesnt have your bank account on file and youve moved, your paper check may go to the wrong place. Be sure to change your address with the U.S. Postal Service.
Also Check: How To Look Up Stimulus Check
Fourth Stimulus Check Update: Illinois Maine May Get Direct Payments Soon
- Illinois could send out checks amounting to $100 per person by September
- Maine could distribute up to $850 in stimulus payments to most residents in June
- Maine plans to send the payments electronically instead of by paper checks
Americans living in Illinois and Maine could receive more direct payments as the U.S. Congress remains mum on plans for a possible fourth round of stimulus checks.
Senate Democrats in Illinois on Friday proposed $1.8 billion in tax cuts that included provisions for stimulus payments for most residents in the state. The proposed checks would be sent out by September and would largely be funded by the $8.1 billion federal pandemic relief package the state received last year. Part of the funding will also be taken from the state tax revenue surplus.
The bill proposed for most taxpayers to receive $100 per adult and $50 per child in their household. Additionally, property owners would receive up to $300 in property tax relief checks, according to Axios.
The proposal also included provisions that would suspend grocery taxes for six months and suspend gas tax increases. The state would also freeze taxes on school supplies for 10 days.
The Democrats proposal will be taken up by the Senate early this week.
The proposal would still need to pass the legislature with two-thirds support. The state said it will also evaluate whether electronic payment is the best option.
What Should You Do With Your Third Stimulus Check
Lets be real: Three stimulus checks in a year or so is not normal. This third payment can go a long way to help you catch up on bills, pay off debt, or build up your savings. And for a lot of folks, those stimulus checks have kept food on the table. In our State of Personal Finance study, we found that 41% of people who got a stimulus check used it to pay for necessities like food and bills.
So, based on your situation, heres where you start:
If youre out of work or missing a paycheck, use this stimulus money to protect your Four Walls:
Focus on the necessities so you can have peace of mind as you keep looking for work or get your income back up. That means if youre working the Baby Steps and youre out of work, pause your plan for now. Pile up cash until you have a steady income again. Then you can attack your debt. Theres nothing like fighting through a financial crisis to light your fire to be debt-free as soon as possible!
On the other hand, if your job is safe and you feel like itll stay that way, use your stimulus money to build momentum on whatever Baby Step youre on. Put your debt snowball into overdrive. Knock out your fully funded emergency fund . Or talk to your investment professional about giving your retirement a big boost !
No matter your situation, dont forget to budgetits the best way to make your money go further. EveryDollar is our free and simple budgeting app that will help you see exactly where you need to cut back on your spending.
Don’t Miss: Irs Didn’t Get Stimulus
Are 4th Stimulus Checks Really Happening
They arebut theyre not coming from the federal government like the last three stimulus checks did. This time, it all depends on what state you live in. Thats right, these fourth stimulus checks are being given out to some folks at the state and city levels now.
Back when the American Rescue Plan rolled out, all 50 states as a whole were given $195 billion to help fund their own economic recovery closer to home.1 Thats a lot of dough. But heres the catchthey dont have forever to spend that money. The states have to figure out what to spend the money on by the end of 2024, and then they have until the end of 2026 to use up all that cash.2 Those deadlines might sound super far away, but the clock is ticking here.
Get Free Individualized Tax Help
If you earn less than $66,000 and dont own rental property or a farm, you may be eligible for free tax help through Code for Americas Get Your Refund program: www.GetYourRefund.org. The website allows you to check EITC and CTC eligibility, as well as get connected to free online filing or a volunteer tax preparer for additional help. If you havent filed taxes any time in the last three years, the team can also help you claim past tax refunds.
You may also be eligible to have your taxes prepared for free by nonprofit organizations participating in the IRS Volunteer Income Tax Assistance program. To find your nearest VITA site, visit .
Don’t Miss: Irs Customer Service For Stimulus Check