Form Il-2220 - Instructions - Illinois Department Of Revenue

•

Pass-through withholding payments: If you received an Illinois

To determine the correct date to enter for overpayment credit(s) carried

Schedule K-1-P or K-1-T showing pass-through withholding

forward, refer to instruction below.

payments made on your behalf, enter the entire amount in the quarter

If your prior year return that made the election to credit your overpayment

in which the pass-through entity’s tax year ended.

against your 2015 tax was filed

For example, if your tax year ended on March 31, 2016, and your

on or before the extended due date of that prior year return,

‰

Schedule K-1-P shows a tax year ending of June 30, 2015, you

your credit is considered to be paid on the due date of your first

would put the pass-through withholding payment amount in Quarter 1.

estimated tax installment for the current year.

Line 12 —

Quarters 1 through 4 — Subtract Line 11 from Line 10 and

If all or a portion of your overpayment results from

enter that amount here. If this amount is negative, use brackets. If Line 11

payments made after the due date of your first estimated tax

is blank or zero, enter the amount from Line 10.

installment, that portion of your credit is considered to be paid on

the date you made the payment.

Lines 13 and 14 —

Complete Lines 13 and 14 of each quarter before

Example 1: You filed your 2014 Form IL-1120 calendar-year

proceeding to the next quarter. Follow the instructions on the form.

return on or before the extended due date of that return

Step 3: Figure your unpaid tax

requesting $500 be applied against estimated tax. All of your

Line 15 —

Enter the total from:

payments were made before the original due date of your

• Form IL-1120, Step 8, Line 53;

return. Your credit of $500 will be considered to be paid on

• Form IL-1120-ST, Step 8, Line 59;

April 15, 2015.

• Form IL-1065, Step 8, Line 60;

In this case, enter $500 and a date paid of April 15, 2015, on

• Form IL-1041, Step 7, Line 53; or

Line 18.

• Form IL-990-T, Step 6, Line 27

Example 2: You filed your 2014 Form IL-1120 calendar-year

Line 16a —

Enter the total of all payments you made on or before the

return on or before the extended due date of that return

original due date of your tax return.

requesting $500 be applied against estimated tax. Your

Include overpayment credit(s) carried forward to 2015 from a prior

overpayment includes payments of $400 you made before

year original or amended return if the prior year return was filed on or

the original due date of your return, and a $100 payment you

before the original due date of your 2015 return. You must also include

made on July 1, 2015. A credit of $400 will be considered to

withholding (including gambling withholding), estimated payments

be paid on April 15, 2015. The remaining $100 credit will be

(Form IL-1120-ES) or voluntary prepayments (Form IL-516-I or

considered to be paid on July 1, 2015.

Form IL-516-B), extension payments (Form IL-505-B), pass-through

In this case, you will enter two credits on Line 18. One for

withholding payments made on your behalf, payments made with a

$400 reporting a date paid of April 15, 2015, and another for

voucher generated by a software program, electronic payments, and

$100 reporting a date paid of July 1, 2015.

payments made with your tax return or “V” vouchers.

after the extended due date of that prior year return, your

‰

Line 16b —

Form IL-1120 filers only: Add the amounts from Step 2,

credit is considered to be paid on the date you filed the return on

Line 10, all Columns. Enter the result on Line 16b. All other filers, enter

which you made the election.

zero.

Example 3: You filed your 2014 Form IL-1120 calendar-year

Line 16 —

Enter the greater of 16a or 16b.

return on December 1, 2015, requesting $500 be applied

Line 17 —

ubtract Line 16 from Line 15. If the amount is

against estimated tax. Your credit of $500 will be considered

• positive, enter the amount here. You owe a late-payment

to be paid on December 1, 2015, because you filed your

penalty for unpaid tax. Continue to Step 4 and enter this

return after the extended due date of your 2014 calendar-year

amount in Penalty Worksheet 2, Column C, Line 21.

return.

• zero or negative, enter the amount here. If the result is negative,

In this case, enter $500 and a date paid of December 1,

use brackets.

2015, on Line 18.

Step 4: Figure your late-payment penalty

Use:

to figure your late payment penalty for:

All other tax types

• Penalty Worksheet 1

underpayment of estimated tax.

Enter any payments made after the original due date of your tax return,

• Penalty Worksheet 2

unpaid tax.

regardless of the type of payment, and the date you made the payment.

You must follow the instructions in order to properly complete

List the payments in date order. Include any overpayment credit(s) carried

the penalty worksheets.

forward from a prior year original or amended return.

Line 18 —

Follow the instructions below for your tax type.

Do not include income tax credits, withholding, or pass-through

withholding payments made on your behalf.

Corporations (excluding S corporations)

Only include overpayment credit(s) which are considered to be paid after

the original due date of your current year tax return. To determine when

Enter your payments, regardless of the type of payment, and the date

the overpayment credit(s) are considered to be paid, refer to the following

you made the payment. List the payments in date order. Include any

instructions.

overpayment credit(s) carried forward from a prior year original or

If your prior year return that made the election to credit your overpayment

amended return.

against your 2015 tax was filed

If you do not complete Penalty Worksheet 1, only enter

on or before the extended due date of that prior year return,

‰

payments made and credits received after the original due date of your

do not include the credit(s) on Line 18. Your credit(s) will be

tax return.

considered to be paid before the original due date of the current

Do not include income tax credits, withholding, or pass-through

year tax return. See the instructions for your return for details.

withholding payments made on your behalf.

IL-2220 Instructions (R-12/15)

Page 2 of 5

Form Il-2220 - Instructions - Illinois Department Of Revenue - 2015 Page 2

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