Illinois residents, make the most of the IL Gives Tax Credit to reduce your state income tax.
Claim 25% of your donations to registered Illinois organizations as a state tax credit and reduce your federal taxable income if you’re itemizing your deductions.
Example: Donate $1,000 and receive a $250 state tax credit, along with a federal deduction of up to $750 if itemizing.
Act Fast: This credit is first-come, first-served. Verify eligible organizations on the Illinois Department of Revenue’s website (https://mytax.illinois.gov/?link=ILGIVESRPT) and maximize your tax savings today!
Take Action Now: Visit the Illinois Department of Revenue’s website to find eligible organizations and start saving on your taxes!
Tax laws are complex, and the rules discussed here are particularly nuanced. We strongly recommend consulting with us for personalized advice tailored to your specific situation. We
can help you understand your eligibility and optimize your tax situation.
Please contact your Brown CPA Group professional team with any questions at 847.509.4100.