Applicants:
Click here for detailed information on how to apply.
Introduction
Individuals/couples can now choose how their IL taxes will be used, specifically in offering tuition assistance to families to attend a private school, such as St. Mary’s.
Background
The Illinois Legislature has passed the Invest in Kids Act. It is a five year program, which began January 2018 for school year 2018-2019. The program has currently been suspended by the state, but it is still important for as many people as possible to contact our state representatives to let them know how important it is to bring the program back into existence.
The Diocese of Peoria has partnered with Empower Illinois, an SGO (Scholarship Granting Organization), which will administer both the reception of funds from donors and the distribution of funds to the school selected by the applicants.
Donors:
Information on donating can be found at the Empower Illinois website.
Tutorial Video
Understanding the Tax Credit
5 Facts for Donors
How to Donate
- Obtain a Letter ID
+ Access mytax.illinois.gov
+ “Individuals” tab
+ “Miscellaneous” Section
+ Request a Letter ID
It will be mailed to you, based on your IL Tax forms address in 7-10 business days.
2. Activate your account anytime after you receive your Letter ID
+ Access mytax.illinois.gov
+ “Registration”
+ “Sign up for a MyTax Illinois Account”
+ Social Security Number
+ Individual Income Tax? – Answer YES
+ Letter ID; IL PIN or 2023 Adjusted Gross Income;
Contact information; Logon information; Email Address
3. Donation completion:
Access mytax.illinois.gov and reserve your tax credit.
Log in, then click on “Individual” under Accounts
Click on “Contribute to Invest in Kids”
The application will include:
+ Taxpayer’s name and address
+ Amount Taxpayer will contribute
+ Region (4) for which contribution will be made
+ SGO to which the contribution will be made (Empower Illinois)
+ An acknowledgment that no credit may be taken for any qualified contribution for which the taxpayer claims a federal tax deduction
NOTE: Multiple applications cannot be made on the same form.
Applications will be reviewed by the Department of Revenue and either approved or denied.
Contribution of Authorization Certificate Issued
Check for your letter under the Alerts section of My Tax Illinois website after you have logged in.
Be sure to save the Certificate on your computer for uploading later to the Empower Illinois website (after it is read it will be found under Correspondence/View Letters).
Each CAC issued includes:
+ Date Certificate was issued
+ Date by which the contribution listed must be made – within 60 days from date of issuance
+ Amount of authorized contribution
+ Region for which the CAC is issued
+ Name and unique identifier of the SGO designated
+ Statement that no federal tax deduction may be taken for the contribution
+ Unique identifier for each CAC issued
Each CAC will be sent to the taxpayer within 3 business days of issuance. A taxpayer may rescind all or part of an authorized contribution by providing notice to the Department. The Department will maintain a running total of credits by region on its website. This will be updated each business day.
4. Click here to make your donation after you have received your CAC
Note: You will designate which school you are donating to at this step.
Benefits for St. Mary’s Parish:
For each $100 donated
+ If donor uses Standard Deduction on 2023 Federal Tax Form
Individual/Couple pledges $100 from IL “Tax Total”
- Receives $75 of the $100 donated from State
- Reduces Sunday collection by $25
Result: Individual nets the same; receives $25 less from State tax return, but gives $25 less to Sunday collection.
St. Mary’s gains $75! $100 from State and $25 less in Sunday collection.
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+ If donor uses Itemized Deductions on 2023 Federal Tax Form
Individual/Couple pledges $100 from IL “Tax Total”
- Receives $75 of the $100 donated from State
- Reduces Sunday collection by $50
Result: Individual nets the same; receives $25 less from State tax return and $25 less in Itemized Deductions (25% tax bracket), but gives $50 less to Sunday collection.
St. Mary’s gains $50! $100 from State and $50 less in Sunday collection.