Form Il-2210 - Computation Of Penalties For Individuals - 2008 Page 3
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2
3Step 5: Figure your late-fi ling penalty and the amount you owe
Figure your late-fi ling penalty only if
you are fi ling your tax return after October 15, 2009; and
your tax was not paid by April 15, 2009.
Figure your late-fi ling penalty.
25
25
Write the amount from Form IL-1040, Line 16, minus any timely payments and credits.
26
26
Multiply the amount on Line 25 by 2% (.02).
27
27
Write the lesser of Line 26 or $250. This is your late-fi ling penalty.
Figure the amount you owe.
28
28
Write any late-payment penalty for unpaid tax from Line 21.
29
29
Write any late-fi ling penalty from Line 27.
30
If you have an overpayment on Form IL-1040, Line 32, write that amount as a <negative number>.
30
If you have an amount due on Form IL-1040, Line 36, write that amount as a positive number.
31
Add Lines 28 through 30.
If the result is a negative number, this is the amount you are overpaid (before any amount applied to next year’s estimated tax).
31
If the result is a positive number, this is the amount you owe. See Form IL-1040 instructions for your payment options.
Step 6: Complete the annualization worksheet for Step 2, Line 9
Complete this worksheet only if your income was not received evenly throughout the year and you choose to annualize your
income. Complete Lines 32 through 48 of one column before going to the next, beginning with Column A.
A
B
C
D
January 1, 2008
January 1, 2008
January 1, 2008
January 1, 2008
to March 31, 2008
to May 31, 2008
to August 31, 2008
to December 31, 2008
32
Write your Illinois base income
32
for each period. See instructions.
4
2.4
1.5
1
33
33
Annualization factors.
34
Multiply Line 32 by Line 33.
34
This is your annualized income.
35
35
Exemptions. See instructions.
36
Subtract Line 35 from Line 34.
36
This is your Illinois net income.
37
37
Multiply Line 36 by 3% (.03).
38
For each period, write the
amount you wrote on
38
Line 2, Column A.
39
39
Subtract Line 38 from Line 37.
22.5% (.225)
45% (.450)
67.5% (.675)
90%(.900)
40
40
Applicable percentage.
41
Multiply Line 39 by Line 40.
This is your annualized
41
installment.
42
Add the amounts on Line 48 of
each of the preceding columns
42
Skip this line for Column A.
and write the total here.
43
Subtract Line 42 from Line 41.
43
If less than zero, write “0.”
44
Write the amount from
44
Line 8 in each column.
45
Write the amount from Line 47
45
Skip this line for Column A.
of the preceding column.
46
46
Add Lines 44 and 45.
47
If Line 46 is greater than
Line 43, subtract Line 43 from
47
Skip this line for Column D.
Line 46. Otherwise, write “0.”
48
Write the lesser of Line 43 or
Line 46 here and on Line 9.
This is your required
48
installment.
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide
information could result in a penalty. This form has been approved by the Forms Management Center.
IL-492-0031
IL-2210 (R-12/08)
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