With thousands of Illinoisans missing out on the federal Earned Income Tax Credit (EITC) and state Earned Income Credit (EIC) each tax season, the Illinois Department of Revenue is reminding qualifying taxpayers to take advantage of these valuable benefits.
The Earned Income Tax Credit can result in refunds of:
up to a $6,935 federal refund when a taxpayer files a return and has qualifying children.
up to $560 federal refund for workers with no qualifying children.
up to 18 percent of the federal EITC included in the Illinois income tax refund, claimed on Form IL-1040, Illinois Individual Income Tax Return, and Schedule IL-E/EIC, Illinois Exemption and Earned Income Credit (for tax years on or after Jan 1, 2018).
The Internal Revenue Service (IRS) recommends that all workers who earned around $59,187, or less learn about EITC eligibility and use the EITC Assistant to find out if they qualify.
To be eligible for federal EITC and state EIC, taxpayers must:
meet certain income and residency qualifications.
file a tax return, even if no tax is owed or they are not required to file.
Did you know?
Taxpayers must be eligible for federal EITC to receive state EIC.
Taxpayers who are eligible for federal EITC automatically qualify for Illinois EIC.
According to the IRS, the average EITC credited for 2022 was $2,043.
In 2022, more than 70,000 Illinoisans claimed a federal EITC credit without also claiming the state EIC, leaving over $25.3 million unclaimed.
