Form Il-2220 Instructions - Illinois Department Of Revenue

Line 13 —

If you do not complete Penalty Worksheet 1, only enter

•

Gambling withholding: If you received a Form W-2G, Certain

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

tax return.

Gambling Winnings, enter the entire Illinois amount of withholding in

the quarter in which the gambling winnings were received.

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

withholding payments made on your behalf.

•

Pass-through withholding payments: If you received an Illinois

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

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

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

forward, refer to the instructions below.

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

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

For example, if your tax year ended on March 31, 2017, and your

against your 2016 tax was filed

Schedule K-1-P shows a tax year ending of June 30, 2016, you

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

‰

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

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

Line 14 —

Quarters 1 through 4 — Subtract Line 13 from Line 12 and

estimated tax installment for the current year.

enter that amount here. If this amount is negative, use brackets. If Line 13

If all or a portion of your overpayment results from

is blank or zero, enter the amount from Line 12.

payments made after the due date of your first estimated tax

Lines 15 and 16 —

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

Complete Lines 15 and 16 of each quarter before

the date you made the payment.

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

Step 3: Figure your unpaid tax

Example 1: You filed your 2015 Form IL-1120 calendar-year

return on or before the extended due date of that return

Line 17 —

Enter the total from:

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

• Form IL-1120, Step 8, Line 57;

payments were made before the original due date of your

• Form IL-1120-ST, Step 8, Line 59;

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

• Form IL-1065, Step 8, Line 60;

April 18, 2016.

• Form IL-1041, Step 7, Line 53; or

In this case, enter $500 and a date paid of April 18, 2016, on

• Form IL-990-T, Step 6, Line 27

Line 20.

Line 18a —

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

Example 2: You filed your 2015 Form IL-1120 calendar-year

original due date of your tax return.

return on or before the extended due date of that return

Include overpayment credit(s) carried forward to 2016 from a prior

requesting $500 be applied against estimated tax. Your

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

overpayment includes payments of $400 you made before

before the original due date of your 2016 return. You must also include

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

withholding (including gambling withholding), estimated payments

made on July 1, 2016. A credit of $400 will be considered to

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

be paid on April 18, 2016. The remaining $100 credit will be

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

considered to be paid on July 1, 2016.

withholding payments made on your behalf, payments made with a

In this case, you will enter two credits on Line 20. One for

voucher generated by a software program, electronic payments, and

$400 reporting a date paid of April 18, 2016, and another for

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

$100 reporting a date paid of July 1, 2016.

Line 18b —

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

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

Line 12, all Columns. Enter the result on Line 18b. All other filers, enter

‰

zero.

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

which you made the election.

Line 18 —

Enter the greater of 18a or 18b.

Example 3: You filed your 2015 Form IL-1120 calendar-year

Line 19 —

ubtract Line 18 from Line 17. If the amount is

return on December 1, 2016, requesting $500 be applied

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

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

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

to be paid on December 1, 2016, because you filed your

amount in Penalty Worksheet 2, Column C, Line 23.

return after the extended due date of your 2015 calendar-year

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

return.

use brackets.

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

Step 4: Figure your late-payment penalty

2016, on Line 20.

Use:

to figure your late payment penalty for:

• Penalty Worksheet 1

underpayment of estimated tax.

All other tax types

• Penalty Worksheet 2

unpaid tax.

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

You must follow the instructions in order to properly complete

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

the penalty worksheets.

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

Line 20 —

Follow the instructions below for your tax type.

forward from a prior year original or amended return.

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

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

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

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

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

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

instructions.

amended return.

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

against your 2016 tax was filed

IL-2220 Instructions (R-12/16)

Page 2 of 5

Form Il-2220 Instructions - Illinois Department Of Revenue - 2016 Page 2

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