Form Il-505-I Draft - Automatic Extension Payment For Individuals - 2010
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1
2Illinois Department of Revenue
IL-505-I
2010
Automatic Extension Payment
for Individuals Filing Form IL-1040
What is the purpose of Form IL-505-I?
months to fi le only if the Internal Revenue Service (IRS) grants you
an additional extension.
The purpose of Form IL-505-I, Automatic Extension Payment, is to
provide taxpayers who are unable to fi le their tax return by the due
When should I fi le and pay?
date a means of calculating and remitting their tentative tax liability
If you owe any tentative tax, and you pay with a paper check or
(including any use tax you will report on your IL-1040) on or before
money order, fi le Form IL-505-I along with your payment on or before
the original due date of the return (see "When should I fi le and
the original due date of your annual return, or as soon as you realize
pay?").
you owe tentative tax.
Who must fi le Form IL-505-I?
Where should I fi le?
You must fi le Form IL-505-I if all of the following apply to you:
Mail your Form IL-505-I to: Illinois Department of Revenue,
you cannot fi le your tax return by the due date, and
P.O. Box 19005, Springfi eld, Illinois 62794-9005. Make your check
you will owe a tentative tax (complete the Tax Payment Worksheet
or money order payable to “Illinois Department of Revenue.”
on the back of this page to determine this), and
Be sure to write your Social Security number, tax year, and
you submit your payment by paper check or money order (i.e.,
“IL-505-I” on your payment.
you do not use any electronic means, such as electronic funds
Will I owe penalties and interest?
transfer, to make your payment).
You will owe a
If Line 7 of the worksheet shows you owe tentative tax, you must
late-fi ling penalty if you do not fi le a processable return by the
pay the full amount due by the original due date of the return. An
extended due date,
extension of time to fi le does not extend the amount of time you
late-payment penalty if you do not pay the tax you owe by the
have to make your payment.
original due date of the return, and
Do not fi le Form IL-505-I if:
bad check penalty if your remittance is not honored by your
after you complete the Tax Payment Worksheet, you fi nd that
fi nancial institution.
you do not owe additional tax, or
You will owe interest on tax from the day after the original due date
you make your extension payment electronically by credit card,
of your return through the date you pay the tax. We will bill you for
electronic funds transfer (EFT), or bank account debit.
penalties and interest.
For more information about penalties and interest, see
If an unpaid liability is disclosed when you fi le your return,
Publication 103, Penalties and Interest for Illinois Taxes. To receive
you may owe penalty and interest charges in addition to the tax. See
a copy of this publication, see "What if I need additional forms or
“Will I owe penalties and interest?”
assistance?" on the back of this form.
What are the extensions?
What should I attach to my Form IL-1040?
Automatic Illinois six-month extension
If you fi le your return within the automatic six-month extension period,
We automatically grant you a six-month extension of time to fi le your
do not attach anything to your return to explain your delayed fi ling.
tax return. For calendar year fi lers, the fi ling date is automatically
If you fi le your return after the automatic six-month extension period
extended to October 15. You are not required to fi le Form IL-505-I in
and the IRS grants you an extension of more than six months, you
order to obtain this automatic extension. However, you must pay any
must attach a copy of the document granting your federal extension
tentative tax due by the original due date of your return in order to
to your tax return to avoid a late-fi ling penalty.
avoid any late-payment penalty and interest on unpaid tax.
Be sure to claim any Form IL-505-I payments on your 2010
Additional extension beyond six months
Form IL-1040, Line 25.
If you cannot fi le your tax return within the automatic six-month
extension period, we will grant you an extension of more than six
IL-505-I front (R-12/10)
Return only the bottom portion with your payment.
Illinois Department of Revenue
IL-505-I 2010
Automatic Extension Payment for Individuals
(R-12/10)
Offi cial Use
Write your Social Security numbers in the order they appear on your federal return.
Do not fi le this form if no payment is due or you pay
-
-
-
-
electronically or by credit card.
Your Social Security number
Spouse’s Social Security number
For calendar year ending
/
12/10 or fi scal year ending
Month and year
.
Your fi rst name & initial
Spouse’s fi rst name & initial
Your last name
$ _____________
_____
Street address
Tentative tax due
-
City
State
ZIP
Make your check or money order payable
Offi cial Use
to "Illinois Department of Revenue."
(
)
Mail to:
Daytime phone number
ILLINOIS DEPARTMENT OF REVENUE
*071201110*
PO BOX 19005
SPRINGFIELD IL 62794–9005
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