Lake County Gazette

Time is running out to file state and federal income tax returns for Illinois taxpayers. The filing deadline is Tuesday, April 15. This year, Illinois is participating in the IRS Direct File Program, allowing eligible taxpayers to complete their 2024 federal returns electronically for free. The Illinois Department of Revenue offers several online programs to assist with tax preparation, and filing extensions can also be requested.

While many taxpayers use fee-based services for filing their returns, millions are eligible to utilize free services. These services may have income and age restrictions and include VITA (Volunteer Income Tax Preparation) and TCE (Tax Counseling for the Elderly), provided by the Internal Revenue Service (IRS). The IRS also provides links to other resources.

There are five filing statuses for income taxes: single, head of household, married filing jointly, married filing separately, and qualifying surviving spouse. People who do not reach a certain income threshold are not required to file a tax return but may be encouraged to do so as they might still receive money back. Individuals who are self-employed must file a tax return if they had net earnings of $400 or more. Illinois taxpayers can find more filing options here.

Taxpayers can claim various tax credits, which can be claimed when filing returns to lower the amount of tax owed. There are also standard and itemized deductions that taxpayers may qualify for to help reduce tax payments.

Taxes can be filed traditionally through mail; however, most returns are filed electronically. For those expecting a refund, the standard turnaround time is 21 days for federal returns, though this period can vary depending on several factors. Those who file electronically and opt for direct deposit into a bank account will receive their refund fastest, while paper returns will take longer to process (four to six weeks).

As a quick resource, the AARP website at aarp.orgprovides a list of “10 Things You Need to Know Before Filing Your Tax Return,” an especially helpful tool for seniors aimed at avoiding fraud. These tips assist with deductions, special tax forms for seniors, and more free tax preparation services.

Federal tax return status information can be accessed on the IRS2Go app, while Illinois state income tax return status information can be found here.