Informational Bulletin - Illinois Department Of Revenue - 2007 Page 2
Download a blank fillable Informational Bulletin - Illinois Department Of Revenue - 2007 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Informational Bulletin - Illinois Department Of Revenue - 2007 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2Informational Bulletin - Illinois Begins Implementation of New Tax Computer System
FY 2008-??
What if I have questions about
The following describes more specific
Business income and replacement
tax filers will also see —
my accounts?
changes for the tax types that will be
included in the first phase:
u
Form changes — Forms IL-1041,
We intend to make this transition as
IL-990-T, and IL-1023-C have been
seamless as possible. However, if you
Form ST-1 filers will also see —
extensively revised for tax year 2007
receive something from us you believe
u
Form changes — Form ST-1, Sales
to make them more consistent with
to be in error or you do not understand,
and Use Tax Return, will reference
please call us at 1 800 732-8866.
other Illinois business income tax
your number as Account ID rather
returns. Also, each will have its own
than IBT. You may continue to use
amended return, e.g., IL-1041-X, IL-
the tax returns you have until you
990-T-X, and IL-1023-C-X, replacing
are provided tax returns reflecting
Form IL-843.
the change. For most taxpayers, your
number will not change - just the
Withholding tax filers will also see —
label for it will change.
u
Form changes — Form IL-941 has
u
Other notice and bill changes —
had minor changes (including the
To report corrections to a notice
size of the form).
or bill you receive, you are now
u
Other notice and bill changes —
required to file an ST-1-X, Amended
More notices will be generated
Sales and Use Tax Return.
systemically replacing an inefficient
manual process.
Credit memoranda will
automatically offset sales tax
Note: Beginning January 1, 2008,
outstanding balances. This will be
you now will be penalized for
shown on your Taxpayer Statement.
underpayment or late payment of
withholding tax payments based
Note: If you file other related sales
on changes made by Public Act
tax returns (e.g., MPEA, County
95-0008. See FY-2008-05 for more
Motor Fuel Tax), you will continue
information.
to receive the existing combined
Statement of Account when
necessary for these taxes. As these
When will other taxes be
tax types are phased into the new
included in the new system?
system, they will be included on the
u
By the end of 2008, the system will
new Taxpayer Statement.
expand to include
u
Payment application changes—
•
individual income tax, and
Accelerated (“quarter-monthly”)
•
motor fuel use tax.
payments now will be applied to the
oldest accelerated payment due.
u
Other taxes scheduled to be added
over the next four years include
•
excise taxes,
•
all other related sales taxes, and
•
other miscellaneous taxes.
2
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial