Be
Prepared: Register Today for January 2nd Invest in Kids Launch
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[December 22, 2017]
SPRINGFIELD
Taxpayers wishing to participate in Illinois’ income
tax credit scholarship program, Invest in Kids, on January 2nd are
strongly encouraged to register for a free MyTax Illinois account
today.
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The Invest in Kids (IIK) 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 7-10 days to complete setup of their MyTax
Illinois account.
“We cannot stress it enough, if you do not have a MyTax Illinois
account and want to participate in Invest in Kids on its opening
day, don’t delay in setting one up,” said Connie Beard, Illinois
Department of Revenue Director. “It’s the only way to ensure you
will be on the ground floor when this new program opens.”
Beginning January 2, 2018, MyTax Illinois will begin accepting
applications from individuals and businesses who wish to obtain an
income tax credit equal to 75% of their approved contribution.
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To apply, individuals and businesses must report their intention
to make an authorized contribution to an approved Scholarship Granting
Organization (SGO). 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 IIK tax credits
available each year.
For more information on the IIK income tax credits, including bulletins, FAQs,
and a list of approved SGO’s, please visit Investinkids.illinois.gov. A YouTube
video is available on the website to assist taxpayers with MyTax Illinois
registration. Questions may be emailed to: REV.PRD@illinois.gov.
[Terry Horstman] |