The Illinois Department of Revenue is reminding eligible taxpayers to claim available tax credits when filing their 2024 income tax returns to reduce their tax liability or increase refunds.

Senate Republicans encourage all Illinoisans to take advantage of the available tax credits when filing their 2024 returns. With many families facing financial challenges, these credits provide important relief by reducing tax burdens or increasing refunds. We emphasizes the importance of reviewing eligibility for these credits, as they can significantly benefit individuals and families across the state.

Key Tax Credits for 2024:

• Illinois Earned Income Tax Credit (EITC): Available for low-to-moderate-income working individuals. To qualify, taxpayers must file a return and meet income and age requirements.
• Illinois Child Tax Credit (CTC): A new credit for 2024, worth 20% of the Illinois EITC, for taxpayers who qualify for EITC and have a child under 12. The credit will increase to 40% in 2025.
• Volunteer Emergency Worker Credit (VEW): Available for qualified volunteer emergency workers with a certificate from MyTax Illinois.
• Education Expense Credit: Offers a 25% credit on qualifying educational expenses over $250 for parents or guardians of full-time K-12 students.
• Illinois Property Tax Credit: A 5% credit for property taxes paid on a principal residence.

For more details, visit HERE or call 1-800-732-8866.