Form Il-2220 - Computation Of Penalties For Businesses - 2008
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Illinois Department of Revenue
IL-2220
2008
Computation of Penalties for Businesses
IL Attachment No. 19
Attach to your Forms IL-1120, IL-1120-ST, IL-1065, IL-1041, IL-1023-C, or IL-990-T.
-
Read this information fi rst
For original returns only. Do not use this form with any amended return fi led after the extended
due date of the return. We encourage you to let us fi gure your penalties and send you a bill, instead of completing this form yourself.
Step 1: Provide the following information
1
This form is for 2008 calendar year or for fi scal year beginning __ __/__ __/ __ __ __ __, and ending __ __/__ __/__ __ __ __.
Month Day
Year
Month Day
Year
2
Write your name as it appears on your annual return.
2 ____________________________________
3 Write your FEIN as it appears on your annual return.
3 ___ ___ - ___ ___ ___ ___ ___ ___ ___
4 If your prior year return was fi led under a different FEIN
than the one shown on Line 3, write that number here.
4 ___ ___ - ___ ___ ___ ___ ___ ___ ___
Step 2: Figure your required installments -
Form IL-1120 fi lers only
A
B
This year
Last year
5 Write the total net income and replacement tax from Form IL-1120. See instructions.
If prior year’s tax was zero or you fi led a short year return, write “N/A” in Column B.
5 ________________
________________
6 Multiply Column A, Line 5, by 90% (.9).
6 ________________
7 If Column A, Line 5, is $400 or less, write “0” and go to Step 3. Otherwise, write
the lesser of Column A, Line 6, or Column B, Line 5. See instructions.
7 ________________
8 Divide the amount on Line 7 by four. This is the amount of each required
installment. (If you used the annualized income installment method, see instructions.)
8 ________________
9 Write in Quarters 1 through 4, the
Quarter 1
Quarter 2
Quarter 3
Quarter 4
installment date that corresponds
with the 15th day of the 4th, 6th, 9th,
and 12th month of your tax year.
9
__ __/__ __/__ __ __ __ __ __/__ __/__ __ __ __
__ __/__ __/__ __ __ __
__ __/__ __/__ __ __ __
10 Write the required installment.
See instructions.
10 ________________
________________
________________
_______________
11 Write the amount of credit carried
forward from the prior year and any
pass-through entity payment.
See instructions.
11 ________________
________________
________________
_______________
12 Subtract Line 11 from Line 10.
If the amount is negative,
use brackets.
12 ________________
________________
________________
_______________
13 If the amount on Line 14 of the
previous quarter is negative,
write that amount as a positive
here. Otherwise, write “0.”
13 ________________
________________
________________
_______________
Skip this line for Quarter 1.
14 Subtract Line 13 from Line 12.
If the amount is negative,
use brackets.
14 ________________
________________
________________
_______________
Step 3: Figure your unpaid tax
-
all taxpayers
15 Write your total net income and replacement tax. See instructions.
15 ________________
16 a Write the amount of your credit carryforward from the prior year, your
total estimated tax payments made this year, and any pass-through
entity payments made on your behalf.
16a ________________
b Form IL-1120 fi lers only: Write the amount from Line 7, or, if you
annualized, the total of Line 10. All other fi lers, write zero.
16b ________________
Write the greater of Line 16a or Line 16b here.
16 ________________
17 Write other payments made on or before your original due date.
a Write the amount and the date of your Form IL-505-B.
17a ___________
__ __/__ __/__ __ __ __
b Write the amount and the date of any other payment.
17b ___________
__ __/__ __/__ __ __ __
Add Lines 17a and 17b.
17 ________________
18 Add Lines 16 and 17.
18 ________________
19 Subtract Line 18 from Line 15. If this amount is
—positive, write that amount here. Continue to Step 4 and write this amount in
Penalty Worksheet 1, Line 21, Column C.
—zero or negative, write that amount here and, if negative, use brackets. Continue to Step 4,
skip Penalty Worksheet 1, and go to Penalty Worksheet 2. You may apply this overpayment
to any underpayment when fi guring your Penalty Worksheet 2. See instructions.
19 ________________
IL-2220 (R-12/08)
Page 1 of 3
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