Form Il-2220 Instructions - 2000
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4Illinois Department of Revenue
IL-2220 Instructions
2000
General Information
We will figure the penalties for you and, if you owe any, we will
send you a notice. However, you must complete this form if
What is the purpose of this form?
you are using the annualized income installment method for
late-payment penalty for underpayment of estimated tax in
The purpose of this form is to calculate penalties you may owe
Step 6.
if you did not
If you prefer to calculate your penalties, complete this form.
• make timely estimated payments,
For more information, see Publication 103. To receive a copy
• pay the tax you owe by the original due date, or
of this publication, visit our Web site at
• file a processable return by the extended due date.
call our Illinois Tax Fax at
217 785-3400; call our 24-hour Forms Order Line at
What is late-payment penalty?
1 800 356-6302; or call our TDD (telecommunications device
for the deaf) at 1 800 544-5304.
Late-payment penalty is a penalty assessed for failure to pay
the tax you owe by the due date. This penalty could result
Specific Instructions
from two different underpayment situations and is assessed at
increased rates, based on the number of days the payment is
The late-payment penalty is figured differently for
late. This method of figuring penalties is for returns due on or
returns due on or after January 1, 2001. Previously, this
after January 1, 2001.
penalty was figured on the required estimated tax payment at
For returns due before January 1, 2001, see Publication 103,
a flat rate. Now, this penalty is figured on the amount of the
Uniform Penalties and Interest.
payment and number of days the payment is late.
You will be assessed late-payment penalty for unpaid tax if
Step 1: Complete the following information
you do not pay the total tax you owe by the original due date
of the return, even if you have an extension of time to file.
Lines 1 through 4 — Follow the instructions on the form.
You will be assessed late-payment penalty for underpay-
Step 2: Figure your required installments
ment of estimated tax if you were required to make esti-
(Form IL-1120 filers only)
mated tax payments and failed to do so, or failed to pay the
required amount by the payment due date.
Line 5 — Write in Column A the total net income and replace-
You do not owe the late-payment penalty for underpayment
ment tax written on your 2000 Form IL-1120, Part II, Line 3.
of estimated taxes if
Write in Column B the total net income and replacement tax
written on your 1999 Form IL-1120, Part II, Line 3.
• you are not filing Form IL-1120;
If the preceding year's return was for a short tax year, or you
• you were not required to file Form IL-1120 for 1999; or
reported zero total net tax, write “N/A” in Column B.
• your 2000 net tax liability (Form IL-1120, Part II, Line 3)
For Columns A and B, if a corrected return was filed
is $400 or less.
for either year on or before the automatic extension date, the
What is late-filing or nonfiling penalty?
corrected tax should be used. If an amended return was filed
after the automatic extension date for either year, use the
Late-filing or nonfiling penalty is a penalty assessed for failure
most current tax reported prior to that date.
to file a processable return by the extended due date. The
Line 6 — Follow the instructions on the form.
penalty is the lesser of $250 or 2 percent of the tax amount
required to be shown due on your return, reduced by any
Line 7 — If Column A, Line 5 is $400 or less, write “0” and go
payments made by the original due date and any credits
to Step 3. Otherwise, write the lesser of Column A, Line 6, or
allowed on your return.
Column B, Line 5. If you wrote “N/A” in Column B, write
the amount from Column A, Line 6.
An additional penalty will be assessed if you do not file a
processable return within 30 days of the date we notify you
Lines 8 and 9 — Follow the instructions on the form.
that we are not able to process your return. This additional
Line 10 — Write the amount of your required installment for
penalty is equal to the greater of $250 or 2 percent of the tax
each due date. For most taxpayers, this is the amount shown
shown due on your return, determined without regard to
on Line 8. However, if you are annualizing your income, write
payments and credits, and may be assessed up to a maxi-
the amounts from Step 6, Line 47.
mum of $5,000.
Annualized income installment method: If your
income was not received evenly throughout the year, you may
Do I need to complete this form if I owe
be able to lower or eliminate the amount of your required
penalties?
installment by using the annualized income installment
No, you do not need to complete this form if you owe penal-
method in Step 6.
ties. You may choose to have us figure your penalties and
If you choose to annualize your income in Step 6, you must
send you a bill instead of completing and filing this form
use this method for all installments. When completing the
yourself. If you choose to have us figure your penalties,
worksheet, select the lesser of the annualized income install-
complete your return as usual and do not attach Form
ment or the regular installment to arrive at the amount of each
IL-2220.
required installment.
IL-2220 instructions (N-12/00)
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