Fillable Form Il-505-I - Automatic Extension Payment

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Illinois Department of Revenue

IL-505-I

2007

Automatic Extension Payment

for Individuals Filing Form IL-1040

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

months to ﬁ le your return 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 Form IL-1040,

When should I ﬁ le and pay?

Individual Income Tax Return, by the due date a means of calculating

If you owe any tentative tax, and you pay with a paper check or

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

money order, ﬁ le Form IL-505-I along with your payment on or before

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

the original due date of your annual return, or as soon as you realize

you owe tentative tax.

Who must ﬁ le Form IL-505-I?

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

Where should I ﬁ le?

you cannot ﬁ le your Form IL-1040 by the due date, and

Mail your Form IL-505-I to: Illinois Department of Revenue,

you will owe a tentative tax (complete the Tax Payment Worksheet

P.O. Box 19005, Springﬁ eld, Illinois 62794-9005. Make your check

on the back of this page to determine this), and

or money order payable to “Illinois Department of Revenue.”

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

Be sure to write your Social Security number, tax year, and

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

“IL-505-I” on your payment.

transfer, to make your payment).

Will I owe penalties and interest?

If Line 7 of the worksheet shows you owe tentative tax, you must

You will owe a

pay the full amount due by the original due date of the return. An

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

extension of time to ﬁ le does not extend the amount of time you

extended due date,

have to make your payment.

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

Do not ﬁ le Form IL-505-I if:

original due date of the return, and

after you complete the Tax Payment Worksheet, you ﬁ nd that

bad check penalty if your remittance is not honored by your

you do not owe additional tax, or

ﬁ nancial institution.

you make your extension payment electronically by credit card,

You will owe interest on tax from the day after the original due date

electronic funds transfer (EFT), or bank account debit.

of your return through the date you pay the tax. We will bill you for

penalties and interest.

If an unpaid liability is disclosed when you ﬁ le your return,

For more information about penalties and interest, see

you may owe penalty and interest charges in addition to the tax. See

Publication 103, Penalties and Interest for Illinois Taxes. To receive

“Will I owe penalties and interest?”

a copy of this publication, see "What if I need additional forms or

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 all taxpayers a six-month extension of time

do not attach anything to your return to explain your delayed ﬁ ling.

to ﬁ le Form IL-1040. For calendar year ﬁ lers, the ﬁ ling date is

If you ﬁ le your return after the automatic six-month extension period

automatically extended to October 15. You are not required to ﬁ le

and the IRS grants you an extension of more than six months, you

Form IL-505-I in order to obtain this automatic extension. However,

must attach a copy of the document granting your federal extension

you must pay any tentative tax due by the original due date of your

to your Form IL-1040 to avoid a late-ﬁ ling penalty.

return in order to avoid any late-payment penalty and interest on

unpaid tax.

Be sure to claim any Form IL-505-I payments on your 2007

Additional extension beyond six months

Form IL-1040, Line 18.

If you cannot ﬁ le your Form IL-1040 within the automatic six-month

extension period, we will grant you an extension of more than six

IL-505-I front (R-12/07)

Return only the bottom portion with your payment.

Illinois Department of Revenue

IL-505-I 2007

Automatic Extension Payment for Individuals

(R-12/07)

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

12/07 or ﬁ scal year ending

Month and year

Your ﬁ rst name & initial

Spouse’s ﬁ rst name (& last name if different)

Your last name

$ _____________

_____

Tentative tax due

Street address

Make your check or money order payable

City

State

ZIP

Ofﬁ cial Use

to "Illinois Department of Revenue."

(

)

Mail to:

Daytime phone number

ILLINOIS DEPARTMENT OF REVENUE

PO BOX 19005

This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to

SPRINGFIELD IL 62794–9005

provide information could result in a penalty. This form has been approved by the Forms Management Center. IL-492-0068

Form Il-505-I - Automatic Extension Payment - 2007

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