CHAMPAIGN, Ill. (WCIA) — Tax season is fast approaching, and you might be leaving money on the table. An Illinois tax professional said new tax code for 2024 filings will especially help people filing with dependents.

And he said you might need to keep a close eye on warnings you get from the IRS There’s a couple of things. The first is the earned income credit which the IRS gives for up to three dependents.

Illinois has expanded this for all dependents claimed on your tax return. Tax preparer Eric Chaney estimates someone making $40,000 with three dependents can get $4,000-5,000 through this change. But there are a couple benchmarks to meet to qualify.

“On wages like what you see on your W-2 or if you’re self-employed, that’s considered earned income,” Chaney said. “And if your income for the year is $66,000 or less, you may qualify. But it also depends on other factors, like how many dependents you have your filing status.”

Chaney said the most you can get from the earned income credit is around $7,000.

He also said they’re seeing more letters from the IRS this year. Chaney recommends looking at the mail soon as you get it, since some notices require your response within 30 days.