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February 3, 2004

Governor announces more than 107,000 Illinois families cashed in on Earned Income Credit
New tax law leads to higher refunds for Illinois working families

SPRINGFIELD – Governor Rod R. Blagojevich announced today that so far this tax season, more than 107,000 Illinois taxpayers have received larger Illinois tax refund payments as a result of new legislation that made the Illinois Earned Income Credit refundable.
“The new refundable credit has provided, as intended, additional funds to Illinois working families,” said Governor Rod Blagojevich. “I’m pleased to see increases in both the number and the amount of the credits.”
The Illinois Earned Income Credit is equal to 5 percent of the federal EIC and was made refundable for the current tax year under legislation signed by Gov. Blagojevich.  As a refundable credit, working families can receive a refund larger than the amount of Illinois tax they owe. The state EIC refunds are paid for by federal Temporary Assistance for Needy Families (TANF) dollars.  Families with children under age 18 qualify for the refundable state credit.  For all others who qualify for the federal EIC, the state credit cannot exceed the tax owed.  Together, these benefits put money back into the pockets of Illinois’ working families.
Revenue Director Brian Hamer said that to date his agency has paid 121,700 taxpayers EICs totaling $13,968,744.  Included in that number were 107,437 taxpayers who received an additional $2,770,207 because the credit was refundable. 
Director Hamer urged taxpayers claiming the Illinois EIC to use one of the department’s electronic filing methods to assure that they get their refunds in a week.  The Department of Revenue has a list of sites offering free assistance in filing federal and state tax forms, including the EIC, on its web site at www.Iltax.com.


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