Wednesday, June 19, 2024
HomenewsIn an Effort to Encourage Taxpayers to Claim the Earned Income Tax...

In an Effort to Encourage Taxpayers to Claim the Earned Income Tax Credit, the Governor Has Issued a Reminder.

CHICAGO- Every year, thousands of Illinois residents miss out on refunds they are entitled to receive thanks to the federal Earned Income Tax Credit and the state Earned Income Tax Credit, so Governor Pritzker is sending out a reminder to those who are eligible to apply for these programmes.

In 2022, the taxpayer must have had “earned income,” meet certain income and residency requirements, and file a tax return, even if the taxpayer does not owe tax and is not required to do so.

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Workers with annual incomes of $59,187 or less are encouraged by the IRS to investigate EITC qualification. All taxpayers who are qualified to receive the federal EITC are also eligible to receive the Illinois EIC, a refundable tax credit worth up to 18% of their federal claim.

When asked about his administration’s priorities, Illinois Governor JB Pritzker said, “My administration’s first focus will always be supporting Illinois’ working families—and that means putting money back into the pockets of those who need it most.”

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Over $25.3 million in state EIC was unclaimed because over 70,000 Illinoisans only applied for the federal EITC.

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