Form Il-505-B - Automatic Extension Payment For 2016
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Illinois Department of Revenue
IL-505-B
Automatic Extension Payment
What is the purpose of Form IL-505-B?
If you do not owe any tentative tax, you are not required to file Form
IL-505-B. However, you must attach a copy of the approved federal
Form IL-505-B, Automatic Extension Payment, provides taxpayers who
extension to your annual return when you file it.
are unable to file their business income tax return by the due date a
When should I file and pay?
means of calculating and remitting their tentative tax liability on or before
the original due date of the return (see “When should I file and pay?”).
You must file your completed Form IL-505-B and pay any tentative tax
Who must file Form IL-505-B?
amount you owe by the original due date of your tax return or as soon
as you realize you owe tentative tax. This includes annual and short-year
You must file Form IL-505-B if all of the following apply to you:
returns. Refer to the following list of return due dates by tax type.
• you are required to file Form IL-1120, IL-1065, IL-1120-ST,
All dates refer to the months following the close of the taxable year.
IL-1041, or IL-990-T, and
Tax type
Due date
• you cannot file your annual tax return by the due date, and
• corporations (with a tax year
• you complete the Tax Payment Worksheet on the back of this
ending June 30), subchapter
page and determine that you will owe a tentative tax.
S corporations
the 15th day of the 3rd month
If Line 10 of the worksheet shows you owe tentative tax, pay the full
• corporations (with a tax year
amount due either by filing and paying with this form or by making your
ending other than June 30),
payment electronically. An extension of time to file does not extend
partnerships, fiduciaries, and
exempt organizations
the amount of time you have to make your payment.
(employee trusts only)
the 15th day of the 4th month
Do not file Form IL-505-B if:
• exempt organizations (all others) the 15th day of the 5th month
• after completing the Tax Payment Worksheet, you find that you do
• cooperatives
the 15th day of the 9th month
not owe additional tax, or
If you file federal Form 1120, U.S. Corporation Income Tax
• you make your extension payment electronically.
Return, and the federal original due date is later than the Illinois
Unitary group: If you are a member of a unitary business group that
original due date, your Form IL-1120 and your payment will be due at
is filing a combined return, your designated agent must complete one
the same time as your federal Form 1120.
Form IL-505-B for the entire group as though it is one taxpayer.
Make your check or money order payable to “Illinois Department
Federal consolidated group: If you are a member of a federal
of Revenue.” Be sure to write your FEIN, tax year ending, and
“IL-505-B” on your payment. Mail your Form IL-505-B, with your
consolidated group, you must file a separate Form IL-505-B for each
member that is required to file an Illinois tax return. We will not grant
payment, to the address shown on your voucher.
“blanket” or consolidated extensions.
You may be required to make your payments electronically.
Please be aware that if an unpaid liability is disclosed when
For more information, see Informational Bulletin FY 2011-01.
you file your return, you may owe penalty and interest charges in
What are the penalties and interest?
addition to the tax. See “What are the penalties and interest?”
Penalties — You will owe
What are the extensions?
• a late-filing penalty if you do not file a processable return by the
Automatic Illinois extension —
We grant an automatic extension
extended due date;
of time to file your annual return of
• a late-payment penalty if you do not pay the tax you owe by the
original due date of the return;
•
six months for taxpayers whose returns are due on the fifteenth day
• a bad check penalty if your remittance is not honored by your
of the fourth month following the close of their taxable year, and
financial institution.
•
seven months for all other taxpayers.
Interest is calculated on tax from the day after the original due date
The automatic extension of time to file is granted whether or not you
of your return through the date you pay the tax.
request it. You are not required to file Form IL-505-B to obtain this
We will bill you for penalties and interest. For more information about
extension if no tentative tax is due.
penalties and interest, see Publication 103, Penalties and Interest for
Additional federal extension —
We will grant you an additional
Illinois Taxes.
extension to file if the Internal Revenue Service (IRS) grants you
an additional extension. See the instructions of your return for more
information.
IL-505-B front (R-12/16)
Illinois Department of Revenue
IL-505-B
Automatic Extension Payment for 2016
ID: 110
(R-12/16)
Official use only
Mail to: Illinois Department of Revenue, P.O. Box 19045, Springfield, IL 62794-9045
If no payment is due or you make your payment electronically, do not file this form.
Tax year ending
FEIN:
Name:
Month
Year
00
$
C/O:
Payment Amount (Whole dollars only)
Mailing
address
Write your FEIN, tax year ending, and “IL-505-B” on
:
your check or money order and make it payable to
City:
State:
ZIP:
“Illinois Department of Revenue.”
Phone:
(
)
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