Illinoisans respond to new family tax relief plan
SILVIS, Ill. (KWQC) - Starting July 1 the state of Illinois rolled out their new Family Relief Plan, intending to cut taxes and send rebates back to residents in need.
TV6 asked residents how they felt about the new plan.
“I think it’s a good idea,” said Geraldine Bruce, a resident of the state.
DeShon Smith, a father of one, responded, “With the price of milk at $4, taking taxes off, that’s going to be amazing.”
One resident, however, wasn’t so sure. “I have two boys and groceries just cost me almost 200 bucks,” said Matt Coons, “that’ll maybe last me a week or two, so it’s still high.”
The Pritzker Administration says they made the decision due to skyrocketing inflation rates and a healthy state budget. They are able to grant about $1.8 billion in relief to Illinois families due to the elimination of backlogs, the state says.
The state also says it will be giving tax holidays, or temporary tax cuts, to essential items, meaning the state sales tax on groceries will be suspended from July 1 until June 30, 2023.
The state’s gas tax, which was scheduled to be increased in July, will not be increased until January of 2023.
Finally, the sales tax for all school supplies will be cut from 6.25% to 1.25%, which will start on August 5 and end August 14.
Clothing and footwear also qualify for that tax decrease so long as the items are less than $125 a piece.
If you earn low to moderate income in Illinois your tax credit will go from 18% to 20% permanently. Homeowners who made less than $500,000 last year with their spouse, or less than $250,000 individually are eligible for property tax rebates of up to $300, or the same amount as what they qualified for on their 2021 tax returns.
If you made less than $200,000 individually in 2021, you will also receive $50 income tax rebates, while married couples who received less than $400,000 will get $100 in rebates.
All rebates will be sent via direct deposit or in the mail automatically. Whichever method you put down in your 2021 tax returns is the method you will receive it.
Finally, if you didn’t file your tax returns last year you might still be eligible.
More information can be found at their website.
AND FINALLY ALL THOSE REBATES WILL BE SENT VIA DIRECT DEPOSIT OR IN THE MAIL, AUTOMATICALLY....
WHICHEVER METHOD YOU PUT DOWN IN YOUR 2021 TAX RETURNS IS THE METHOD IN WHICH YOU WILL RECIEVE IT.
IF YOU DIDNT FILE YOUR TAX RETURNS LAST YEAR, YOU MIGHT STILL BE ELIGIBLE. WE HAVE MORE INFORMATION ON OUR WEBSITE AND NEWS APP—INCLUDING THE LINK WHERE YOU CAN SIGN UP
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