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Illinois just sent out a pleasant surprise: a rebate for those who claimed the property tax credit on their 1999 Illinois 1040.

But I know there must be strings. The letter states: "Please be advised federal law may subject this check to federal income taxes." I'm wondering what form that will take.

See the following statement, in an article copyright by the Associated Press <>:
  The state Revenue Department says some people will have
to pay federal taxes on the money they receive. People who
itemized their returns may have to pay taxes, while those
who took a standard deduction will not.
... the politicians would have been nuts to give out a rebate that makes everyone amend their 1999 1040s!

Correct -- it will affect your 2000 IL Form 1040, to be filed by April 16, 2001.

Phooley in Phoenix
(formerly in Wood Dale and Glen Ellyn)
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