Form Il-2220 - Instructions - Illinois Department Of Revenue

Column F —

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

‰

Enter the date the payment in Column D was made. If

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

Column D is “0,” do not enter a date and skip to Column H.

which you made the election. If you filed the return on which you

Column G —

Figure the number of days from the date in Column B to

made the election after the original due date of the current year

the date in Column F and enter that number here. This is the number of

tax return, include the credit amount on Line 18.

days the payment was late.

Example 1: You filed your 2014 Form IL-1120-ST

Column H —

Enter the penalty rate that applies to the number of days

calendar-year return late on December 1, 2015, requesting

you entered in Column G. See the penalty rates listed on Form IL-2220,

$500 be applied against estimated tax. Your credit of $500

Page 2, above Penalty Worksheet 1.

will be considered to be paid on December 1, 2015, because

If Column D is “0,” enter 10 percent (.10).

you filed your return after the extended due date of your 2014

calendar-year return.

Column I —

Figure this amount using the payment portion in either

Column C or Column D.

In this case, this credit is considered to be paid before the

original due date of your 2015 Form IL-1120-ST, March 15,

If Column D is “0” or if Column E is “0” or a negative figure, multiply

2016, and would not be included on Line 18.

Column C by Column H and enter the amount here. Otherwise, multiply

Column D by Column H and enter the amount here.

Example 2: You filed your 2014 Form IL-1120-ST

calendar-year return late on July 1, 2016, requesting $500

Line 20 —

Add Column I, Quarters 1 through 4. This is your late-

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

payment penalty for underpayment of estimated tax. Enter the total

considered to be paid on July 1, 2016, because you filed your

amount here and on Form IL-1120, Step 8, Line 54.

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

Penalty Worksheet 2 — Late-payment penalty for

return.

unpaid tax

In this case, enter $500 and a date paid of July 1, 2016, on

Line 21 —

Line 18.

Column B —

Enter the original due date of your return.

Penalty Worksheet 1 — Late-payment penalty for

Column C —

Enter any positive amount from Line 17 on the first line of

underpayment of estimated tax

(Form IL-1120 filers only)

Column C.

If the amount on Line 14 is positive (greater than zero) for any quarter,

Column D —

If you completed Penalty Worksheet 1, and you have

you may owe a late payment penalty for underpayment of estimated

a negative amount (overpayment ) in Column E of the 4th quarter, and

tax. Use this worksheet to figure the penalty for any unpaid quarter.

the payment date in Column F is after the original due date of your tax

return, you may apply the overpayment from Line 19, Column E, as the

If you paid the required amount from Line 14 by the due date on

first available payment for Line 21, Column D.

Line 9 for each quarter, do not complete Penalty Worksheet 1.

Line 19 —

Continue applying unused payments received after the original due date

of your tax return from Line 18, in date order until the unpaid amount in

Column C —

Enter

the underpaid amount from Line 14 on the first

Column C has been satisfied (Column E is zero or a negative figure).

line of the appropriate quarter. Do not enter any overpaid amounts in this

If you did not complete Penalty Worksheet 1, apply payments received

column.

after the original due date of your tax return from Line 18, in date order

Column D —

Apply to the first unpaid quarter, the payment from

until the unpaid amount in Column C has been satisfied (Column E is

Line 18 with the earliest payment date.

zero or a negative figure).

Continue applying payments in date order until all unpaid amounts in

If you have no more payments to apply and Column C remains unpaid,

Column C have been satisfied (Column E is zero or a negative figure for

enter “0” in Column D and complete Columns E through I.

all unpaid quarters) or you have no more payments to apply.

See the example on the final page of these instructions.

For quarters two through four: If you have an overpayment available

Complete Columns E through I

from the previous quarter (quarters one through three, respectively) in

Column E, you may use that amount for the first available payment in the

Column E —

Subtract the payment in Column D from the unpaid

current quarter.

amount in Column C.

See the example on the final page of these instructions.

If this amount is

Column E —

Subtract the payment in Column D from the unpaid

• positive, complete Columns F through I. Enter this positive (unpaid)

amount in Column C.

amount on the next line in Column C. Continue applying payments

in date order until Column E is an overpayment, zero, or you have

If this amount is

entered “0” in Column D.

• positive, complete Columns F through I. Enter this positive (unpaid)

• zero or negative, you have paid your tax. Enter the amount

amount on the next line in Column C. Continue applying payments

here and, if negative, use brackets. Complete Columns F through I.

in date order until the unpaid amount in Column C has been

If you entered “0” in Column D, enter the amount from Column C here,

satisfied (Column E is a negative figure, zero, or you entered “0” in

and complete Columns F through I.

Column D).

Column F —

Enter the date of the payment you applied in Column D. If

• zero or negative, you have paid your tax. Enter the amount here

and, if negative, use brackets. Complete columns F through I.

• you are applying an overpayment from Penalty Worksheet 1,

Column E, enter the date that corresponds to that payment, shown

If this amount is negative in the 4th quarter, and the payment

on Line 18.

date in Column F is after the original due date of the return, apply

this overpayment to any unpaid tax shown on Penalty Worksheet 2,

• Column D is “0,” do not enter a date in Column F and skip to

Column H.

Line 21 when figuring your late payment penalty for unpaid tax. See

the instructions for Penalty Worksheet 2, Column D.

Column G —

Figure the number of days from the date in Column B to

If you entered “0” in Column D, enter the amount from Column C here,

the date in Column F and enter that number here. This is the number of

days the payment was late.

and complete Columns F through I.

Page 3 of 5

IL-2220 Instructions (R-12/15)

Form Il-2220 - Instructions - Illinois Department Of Revenue - 2015 Page 3

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