Form Il-2210 - Computation Of Penalties For Individuals - 2005 Page 3
ADVERTISEMENT
1
2
3Step 5: Figure your late-filing penalty and the amount you owe
Figure your late-filing penalty only if
you are filing your Form IL-1040 after October 16, 2006; and
your tax was not paid by April 17, 2006.
Figure your late-filing penalty.
29
29
Write the amount from Form IL-1040, Step 6, Line 15, minus any timely payments and credits.
30
30
Multiply the amount on Line 29 by 2% (.02).
31
31
Write the lesser of Line 30 or $250. This is your late-filing penalty.
Figure the amount you owe.
32
32
Write any late-payment penalty for unpaid tax from Step 4, Line 25.
33
33
Write any late-filing penalty from Step 5, Line 31.
34
34
Write the amount you owe from your Form IL-1040, Step 11, Line 34.
35
Add Lines 32 through 34 and write the total here. This is your total tax and penalties.
35
Refer to Form IL-1040, Line 34 instructions for all your payment options.
Step 6: Complete the annualization worksheet for Step 2, Line 13
Complete this worksheet only if your income was not received evenly throughout the year and you choose to annualize your
income. Complete Lines 36 through 52 of one column before going to the next, beginning with Column A.
A
B
C
D
January 1, 2005
January 1, 2005
January 1, 2005
January 1, 2005
to March 31, 2005
to May 31, 2005
to August 31, 2005
to December 31, 2005
36
Write your Illinois base income
36
for each period. See instructions.
4
2.4
1.5
1
37
37
Annualization factors.
38
Multiply Line 36 by Line 37.
38
This is your annualized income.
39
39
Exemptions. See instructions.
40
Subtract Line 39 from Line 38.
40
This is your Illinois net income.
41
41
Multiply Line 40 by 3% (.03).
42
For each period, write the
amount you wrote in Step 2,
42
Column A, Line 6.
43
43
Subtract Line 42 from Line 41.
22.5% (.225)
45% (.450)
67.5% (.675)
90%(.900)
44
44
Applicable percentage.
45
Multiply Line 43 by Line 44.
This is your annualized
45
installment.
46
Add the amounts on Line 52 of
each of the preceding columns
46
and write the total here.
Skip this line for Column A.
47
Subtract Line 46 from Line 45.
47
If less than zero, write “0.”
48
Write the amount from Step 2,
48
Line 12, in each column.
49
Write the amount from Line 51
49
of the preceding column.
Skip this line for Column A.
50
50
Add Lines 48 and 49.
51
If Line 50 is greater than
Line 47, subtract Line 47 from
51
Line 50. Otherwise, write “0.”
Skip this line for Column D.
52
Write the lesser of Line 47 or
Line 50 here and on Step 2,
Line 13. This is your required
52
installment.
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide
information could result in a penalty. This form has been approved by the Forms Management Center.
IL-492-0031
IL-2210 (R-12/05)
Page 3 of 3
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial