The May 17 tax filing deadline has passed, but it’s not too late for many Illinoisans to file their taxes to receive funds from missing stimulus checks and other available tax credits. To help make the process easier, the Get My Payment IL Coalition is continuing to connect Illinoisans to free tax-filing resources and working with them to understand which credits they are eligible for. The three main tax credits that Illinoisans may be able to claim to receive these funds include:
• 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) – Every year a little over one in five eligible Illinoisans don’t claim the EITC, leaving millions of dollars in tax credits unclaimed. The EITC is a credit for workers, including those with children and those without children. Eligible low-income workers can qualify for tax credits ranging from $538 to $6,660 through the 2020 EITC. Workers without children must be between the ages of 25 and 64 to claim this credit this year. However, next year it will be available to childless workers age 18 and higher.
• Child Tax Credit (CTC) – For the 2020 CTC, individuals who earned more than $2,500 and who have children under age 17 may be eligible to receive up to $2,000 per child. In 2021, the CTC will be expanding, increasing the amount of money per eligible child and removing the $2,500 earnings minimum.
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.
