Attention Illinois Teachers—You May be Eligible for a New Tax Credit

Teachers will now have more resources to put into their classrooms, and not just because of Illinois lawmakers’ recent passing of a new school funding formula. Thanks to new bill sponsored by Representative Sue Scherer (Dem.), Illinois educators may be eligible for a new $250 state tax credit in addition to the existing federal deduction.

Teachers and aides often spend hundreds of dollars each year to improve their classroom experience at their own expense. The federal government already allowed teachers to claim tax deductions on supplies they bring to school, up to $250. Now, the state of Illinois will also allow them to claim up to $250 in deductions for instructional materials and supplies on their state income tax returns. The new state credit is available to all teachers, principals or aides in Illinois qualified schools who work at least 900 hours during a school year. Teachers in both private and public schools can apply for the credit.

This new credit went into effect this school year. While the state credit will provide some additional relief to teachers, the hope is that it may also help students of families who might not be able to afford the entire school supply list.

Please keep in mind, as with almost every rule there are exceptions and limitations and John Kasperek Co., Inc. strongly recommends you consult a tax professional to best determine how the law affects your unique situation.

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