•November 8, 2017•

The Illinois Department of Revenue (IDOR) is announcing that general information regarding the Invest in Kids Act (IIK) (Public Act 100-0465), the recently enacted Illinois tax-credit scholarship program, is now available through its website tax.illinois.gov.

Beginning January 2, 2018, MyTax Illinois will begin accepting applications from individuals and businesses who wish to participate in IIK. 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. Taxpayers can receive a tax credit equal to 75% of their approved SGO contribution. Those interested in applying are strongly encouraged to register for a MyTax Illinois account as soon as possible to avoid any processing delays when the application system goes live on January 2nd.      Login or Subscribe to read the rest of this story.