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State reminds residents to claim valuable tax benefits

Tax Documents (Photo Studstill Media)

CHICAGO – According to state officials, thousands of Illinois residents missed out on the federal Earned Income Tax Credit and State Earned Tax Credit in 2020. To be eligible for EITC, taxpayers must meet certain income and residency qualifications and file a tax return, even if they do not owe any tax or are not required to file. The Internal Revenue Service recommends that all workers who earned around $57,414, or less learn about eligibility and find out if they qualify.
“A family’s eligibility can change year to year, so we continue to urge all working taxpayers to check their eligibility status and be sure to claim both the state and federal credits to maximize savings,” said IDOR Director David Harris.
Taxpayers must be eligible for federal EITC to receive state EIC. Anyone eligible for the federal EITC also automatically qualifies for the Illinois EIC, which is a refundable tax credit worth up to 18 percent of a taxpayer’s federal claim. Despite that, in 2021, more than 74,800 Illinoisans claimed a federal EITC credit without also claiming the state EIC, leaving over $29.8 million unclaimed.

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