Illinois to launch Invest in Kids scholarship program

SPRINGFIELD – Taxpayers wishing to participate in Illinois’ income tax credit scholarship program, Invest in Kids, are encouraged to register for a free MyTax Illinois account.

investinkidslogoThe Invest in Kids application process for taxpayers seeking to make a qualified contribution is only available online through MyTax Illinois. Completion of MyTax Illinois registration requires security authentication via mail, so applicants should allow seven to 10 days to complete setup of their MyTax Illinois account.

Beginning Jan. 2, MyTax Illinois will begin accepting applications from individuals and businesses who wish to obtain an income tax credit equal to 75 percent of their approved contribution. To apply, individuals and businesses must report their intention to make an authorized contribution to an approved Scholarship Granting Organization. The SGOs, in turn, provide scholarships for eligible Illinois students to attend qualified non-public schools in Illinois. The application process ensures equal access to the $75 million in tax credits available each year.

For more information on the IIK income tax credits, including bulletins, FAQs, and a list of approved SGO’s, visit Investinkids.illinois.gov. A YouTube video is available on the website to assist taxpayers with MyTax Illinois registration. Questions may be emailed to: [email protected]

 

Leave a Comment