Form Il-2220 - Instructions - Illinois Department Of Revenue

For example, if your tax year ended on March 31, 2012, and your

Continue applying payments in date order until all unpaid amounts in

Schedule K-1-P shows a tax year ending of June 30, 2011, you

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

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

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

Line 12 —

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

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

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

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

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

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

current quarter.

Lines 13 and 14 —

Complete Lines 13 and 14 of each quarter before

See the example on Page 4.

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

Column E —

Subtract the payment in Column D from the unpaid

Step 3: Figure your unpaid tax

amount in Column C.

Line 15 —

Write your total net income and replacement tax from:

If this amount is

• Form IL-1120, Step 8, Line 52;

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

• Form IL-1120-ST, Step 8, Line 56;

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

• Form IL-1065, Step 8, Line 58;

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

• Form IL-1041, Step 7, Line 49;

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

• Form IL-1023-C, Step 4, Line 15; or

Column D).

• Form IL-990-T, Step 6, Line 26

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

Line 16a —

Add the total of all payments you made on or before

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

the original due date of your tax return. Include credit carryforwards

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

from the prior tax year, withholding (including gambling withholding),

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

estimated payments, extension payments (Form IL-505-B), pass-

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

through entity payments made on your behalf, payments made with a

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

voucher generated by a software program (“V” vouchers), electronic

the instructions for Penalty Worksheet 2, Column D.

payments, and payments made with your tax return.

Line 16b —

If you wrote “0” in Column D, write the amount from Column C here, and

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

complete Columns F through I.

Line 10, all Columns. Write the result on Line 16b. All other filers, write

zero.

Column F —

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

Line 16 —

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

Write the greater of 16a or 16b.

Column G —

Line 17 —

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

ubtract Line 16 from Line 15. If the amount is

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

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

days the payment was late.

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

Column H —

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

Write the penalty rate that applies to the number of days

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

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

Page 2, below Step 4.

use brackets.

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

Step 4: Figure your late-payment penalty

Column I —

Figure this amount using the payment portion in either

Use:

to figure your late payment penalty for:

Column C or Column D.

• Penalty Worksheet 1

underpayment of estimated tax.

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

• Penalty Worksheet 2

unpaid tax.

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

You must follow the instructions in order to properly complete

Column D by Column H and write the amount here.

the penalty worksheets.

Line 20 —

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

Line 18 —

Write your payments, regardless of the type of payment, and

payment penalty for underpayment of estimated tax. Write the total

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

amount here and on Form IL-1120, Step 8, Line 53.

Do not include credits, withholding, or pass-through entity

Penalty Worksheet 2 — Late-payment penalty for

payments made on your behalf.

unpaid tax

Penalty Worksheet 1 — Late-payment penalty for

Line 21 —

underpayment of estimated tax

Column B —

Write the original due date of your return.

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

Column C —

Write the amount from Line 17.

you may owe a late payment penalty for underpayment of estimated

Column D —

If you completed Penalty Worksheet 1, and you have a

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

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

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

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

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

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

first available payment for Line 21, Column D.

Line 19 — Columns B —

Follow the instructions on the form.

Continue applying unused payments received after the original due date

Column C —

rite the underpaid amount from Line 14 on the first

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

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

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

column.

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

Column D —

Apply to the first unpaid quarter, the payment from

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

Line 18 with the earliest payment date.

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

zero or a negative figure).

IL-2220 Instructions (R-12//11)

Page 2 of 4

Form Il-2220 - Instructions - Illinois Department Of Revenue - 2011 Page 2

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