Tax Refunds/Credits and Stimulus Checks
You could be eligible for thousands of dollars in tax refunds by filing your taxes. Even if you don’t normally file taxes, you can still file. There is no penalty for filing late if you don’t owe the IRS any money. File as soon as possible to get your refund. Most programs to help people file taxes for free are available from January to October.
If you received monthly, advance payments of your Child Tax Credit in 2021, you are probably eligible for the Child Tax Credit in 2022, which you can receive by filing your 2021 income taxes. If you did not enroll in the monthly advance payments of the Child Tax Credit, you can still claim the full amount that you qualify for by filing your 2021 income taxes.
If you haven’t received one or more stimulus checks that were issued in 2020-2021, you may claim the Recovery Rebate Credit on your taxes to receive it. Many low-income people are also eligible to receive money from the Earned Income Tax Credit (EITC). Learn if you are eligible for the EITC.
Filing your current year taxes online and using a bank account number for direct deposit will help you get the money much more quickly. If you didn’t file taxes in the last two years but think you might be eligible for these tax credits, you can still file a paper return for those years to receive your past refunds.
- Many Americans are eligible for free, online tax-preparation services.
- Visit GetMyPaymentIL.org to learn more about how to file your taxes for free and get your Recovery Rebate Credit. They have a hotline (888-553-9777) for people without computer access or more complicated tax questions.
In Chicago, Ladder Up offers free tax assistance to eligible families. Ladder Up also has pro bono attorneys available for more complicated tax situations.