Form Il-1120-Es Draft - Estimated Income And Replacement Tax Payments For Corporations - 2010
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1
2
3Illinois Department of Revenue
Estimated Income and Replacement
IL-1120-ES
2010
Tax Payments for Corporations
Who must make estimated payments?
Do not send payments to commercial bank depositories as
designated by the Internal Revenue Service.
If you are a corporation (other than an S corporation), you must make
payments of estimated tax if you reasonably expect your income and
What if I am a unitary filer?
replacement tax liability to exceed the amount that will be credited
Unitary business groups must make estimated payments on a com-
against that liability by more than $400. You should complete the
bined basis (under the designated agent’s federal employer identifi-
worksheet in Step 1 to figure your estimated tax for 2010 and to
cation number (FEIN) only). For further information about designated
determine if you are required to make estimated tax payments.
agents or combined estimated payments, refer to Illinois Income Tax
Regulations, Sections 100.5220 and 100.5230, respectively.
It is your duty as a taxpayer to obtain forms. Failure to obtain
them is not an excuse for failure to file returns as required by law.
What if I do not make my payments?
When should I file and pay?
If you do not pay the required estimated payments on time, you may
be assessed a late-payment penalty. We will apply each payment
The due dates for filing your estimated payments are the 15th day
to the earliest due date until that liability is paid, unless you provide
of the 4th, 6th, 9th, and 12th month of your tax year. Attach each
specific instructions to apply it to another period.
payment to the voucher, Form IL-1120-ES. Do not send estimated
tax payments with your Form IL-1120, Corporation Income and
You may also be assessed a bad check penalty if your remittance is
Replacement Tax Return. Make your check or money order payable
not honored by your financial institution.
to “Illinois Department of Revenue.”
For more information about penalties and interest, see Publication
103, Penalties and Interest for Illinois Taxes. To receive a copy of this
If you prefer to make your payments electronically, see
publication, call 1 800 356-6302.
Form EFT-1, Authorization Agreement for Electronic Funds Transfer.
If you make your payments by EFT, do not send us your IL-1120-ES
What if I need additional assistance?
forms.
• visit our web site at tax.illinois.gov;
• call our Taxpayer Assistance Division at 1 800 732-8866 or
Where should I file?
217 782-3336; or
You should mail your vouchers, with your payment, to
• call our TDD (telecommunications device for the deaf) at
ILLINOIS DEPARTMENT OF REVENUE
1 800 544-5304.
PO BOX 19045
Our office hours are 8:00 a.m. to 5:00 p.m., Monday through Friday.
SPRINGFIELD IL 62794-9045
Step 1: Complete the estimated tax worksheet.
Complete this worksheet to compute your 2010 estimated tax. Keep this record for your files.
1
1
Write the amount of Illinois net income expected in 2010.
2
2
Multiply Line 1 by 7.3% (.073) and write the result.
3
3
Write the amount of Illinois tax credits and pass-through entity payments expected in 2010.
4
Subtract Line 3 from Line 2 and write the result. This is the amount of unpaid estimated tax for 2010.
If $400 or less, stop. You do not have to make estimated tax payments. If more than $400, continue
4
to Line 5.
If your income changes during the year, complete the Amended Estimated Tax
Worksheet on the back of this page.
5
5
Divide Line 4 by 4. This is the amount of each of your estimated tax payments.
Your 2009 overpayment credited to 2010 should be used to reduce the first estimated tax
payment and any subsequent tax payments until the entire credit is used.
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide
IL-1120-ES (R-12/09)
information could result in a penalty. This form has been approved by the Forms Management Center.
IL-492-0037
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