State Urges Taxpayers to Take Advantage of Expanded Illinois Earned Income Tax Credit

Lawndale News Chicago's Bilingual Newspaper - Business

The Illinois Department of Revenue (IDOR) is encouraging Illinoisans to take advantage of savings offered by the newly expanded Illinois Earned Income Tax Credit (EITC), a benefit that helps low to moderate income workers get a tax break. For tax year 2023, coverage has been expanded to include taxpayers with an IRS-issued Individual Taxpayer Identification Number (ITIN), as well as workers ages 18 to 24 and over 65 (without qualifying child). In addition to expanded coverage, those claiming Illinois EITC this year will see their amount of tax relief increased to a 20 percent (previously 18 percent) match of the amount given federally. Taxpayers eligible for the federal EITC automatically qualify for the Illinois EITC. Despite that, in 2023, more than 53,000 Illinoisans claimed a federal EITC credit without also claiming the state EITC, leaving over $24.6 million unclaimed. It is important to note that taxpayers may qualify for the Illinois EITC even if they did not qualify for the federal EITC. Additional information and promotional resources for Illinois EITC are available at tax.illinois.gov/EITC. For federal EITC information, visit www.irs.gov.

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