Fillable Form Il-505-B - Automatic Extension Payment For 2008 printable pdf download

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Illinois Department of Revenue

IL-505-B

Automatic Extension Payment

required to ﬁ le Form IL-505-B to obtain this extension if no tentative tax

What is the purpose of Form IL-505-B?

is due.

Form IL-505-B, Automatic Extension Payment, provides taxpayers who

Additional federal extension beyond six months —

are unable to ﬁ le their return by the due date, a means of calculating

will grant you an additional extension to ﬁ le of more than six months

and remitting their tentative tax liability on or before the original due

(seven months for corporations) if the Internal Revenue Service (IRS)

date of the return (see “When should I ﬁ le and pay?”).

grants you an additional extension.

Who must ﬁ le Form IL-505-B?

If you do not owe any tentative tax, you are not required to ﬁ le Form

You must ﬁ le Form IL-505-B if all of the following apply to you:

IL-505-B. However, you must attach a copy of the approved federal

• you are a corporation, small business corporation, partnership,

extension to your annual return when you ﬁ le it.

ﬁ duciary, or an exempt organization and you cannot ﬁ le your Form

When should I ﬁ le and pay?

IL-1120, Form IL-1120-ST, Form IL-1065, Form IL-1023-C, Form

IL-1041, or Form IL-990-T by the due date, and

You must ﬁ le your completed form and pay any tentative tax amount

you owe by the original due date of your tax return or as soon as you

• you complete the Tax Payment Worksheet on the back of this

realize you owe tentative tax. This includes annual and short-year

page and determine that you will owe a tentative tax, and

returns. The due date depends on the type of tax return that you ﬁ le.

• you submit your payment by paper check or money order (i.e.,

Refer to the following list of return due dates.

you do not use any electronic means, such as electronic funds

All dates refer to the months following the close of the taxable year.

transfer, to make your payments).

For

Due date

If Line 8 of the worksheet shows you owe tentative tax, you must ﬁ le

• corporations, subchapter

this form and pay the full amount due. An extension of time to ﬁ le

S corporations

the 15th day of the 3rd month

does not extend the amount of time you have to make your

• partnerships, ﬁ duciaries,

payment.

composites, exempt organizations

Unitary group: If you are a member of a unitary business group that

(employee trusts only)

the 15th day of the 4th month

is ﬁ ling a combined return, your designated agent must complete one

• exempt organizations (all others) the 15th day of the 5th month

Form IL-505-B for the entire group as though it is one taxpayer.

• cooperatives

the 15th day of the 9th month

Federal consolidated group: If you are a member of a federal

If you ﬁ le federal Form 1120, U.S. Corporation Income Tax

consolidated group, you must ﬁ le a separate Form IL-505-B for each

Return, and the original due date is later than the 15th day of the 3rd

member that is required to ﬁ le an Illinois tax return. We will not grant

month, your Form IL-1120 and your payment will be due at the same

“blanket” or consolidated extensions.

time as your federal Form 1120.

Form IL-1023-C ﬁ lers: If you are ﬁ ling Form IL-505-B for an extension

Make your check or money order payable to “Illinois Department of

to ﬁ le your Form IL-1023-C, you must write “666” in the “Sequence

Revenue.” Be sure to write your FEIN, tax year, and “IL-505-B” on

no.” on this form.

your payment. Mail your Form IL-505-B, with your payment, to

Do not ﬁ le Form IL-505-B if:

ILLINOIS DEPARTMENT OF REVENUE

• after completing the Tax Payment Worksheet, you ﬁ nd that you do

PO BOX 19045

not owe additional tax, or

SPRINGFIELD IL 62794-9045

• you make your extension payment by Electronic Funds Transfer.

What are the penalties and interest?

Please be aware that if an unpaid liability is disclosed when

Penalties — You will owe

you ﬁ le your return, you may owe penalty and interest charges in

addition to the tax. See “What are the penalties and interest?”

• a late-ﬁ ling penalty if you do not ﬁ le a processable return by the

extended due date;

What are the extensions?

• a late-payment penalty if you do not pay the tax you owe by the

Automatic Illinois extension —

We grant you an automatic

original due date of the return;

six-month (seven-month for corporations) extension to ﬁ le your annual

• a bad check penalty if your remittance is not honored by your

return whether or not you request the automatic extension. You are not

ﬁ nancial institution.

IL-505-B front (R-12/08)

— — — — — — — — Return only the bottom portion with your payment. — — — — — — — —

Illinois Department of Revenue

IL-505-B

Automatic Extension Payment for 2008

If no payment is due or you make your payment by

Tax year ending

Electronic Funds Transfer, do not ﬁ le this form.

____ ___/___ ___ ___ ___

Month

Year

___ ___ - ___ ___ ___ ___ ___ ___ ___

___ ___ ___

Federal employer identiﬁ cation number

Sequence no.

_______________________________________________________

Write the amount of your payment here. __________________

____

Name of organization

Tentative tax due

_______________________________________________________

Street address

_______________________________________________________

City

State

ZIP

(_____)_________________________________________________

Make your check or money order payable to and mail this

Daytime phone number

voucher to:

ILLINOIS DEPARTMENT OF REVENUE

PO BOX 19045

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

SPRINGFIELD IL 62794-9045

by the Forms Management Center.

IL-492-0067

Form Il-505-B - Automatic Extension Payment For 2008

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