Form Il-505-I - Automatic Extension Payment For Individuals

Illinois Department of Revenue

IL-505-I

1999

Automatic Extension Payment

for Individuals Filing Form IL-1040

Who must file Form IL-505-I?

You only have to file Form IL-505-I if tentative tax is due. However,

you must attach a copy of the approved federal extension to your

If you cannot complete and file your Form IL-1040 by the due date,

Form IL-1040 when you file your return to avoid late-filing penalty.

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

page to determine if you must file Form IL-505-I. If Line 7 of the

When should I file?

worksheet shows you owe tentative tax, you must file this form and

If you owe any tentative tax, file Form IL-505-I along with your

pay the full amount due by April 15, 2000, (or the fifteenth day of the

payment on or before the original due date of your annual return, or

fourth month following the close of the tax year) or as soon as you

as soon as you realize you owe tentative tax.

realize tentative tax is due.

Filing an extension does not extend the time for

Where should I file?

paying your taxes.

Mail your Form IL-505-I to: Illinois Department of Revenue, P.O. Box

Do not file this form if, after completing the Tax Payment

19005, Springfield, Illinois 62794-9005. Make your check or money

Worksheet, you find that you do not owe additional tax. However,

order payable to “Illinois Department of Revenue.” Be sure to write

please be aware that if an unpaid liability is disclosed when you file

your Social Security number, tax year, and “IL-505-I” on your

your return, you may owe penalty and interest charges in addition to

payment.

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

What are the penalties and interest?

What are the extensions?

Late-filing penalty — You owe this penalty if you do not file a

Automatic Illinois six-month extension

processable return by the extended due date. You will be penalized

even if your return is fully paid or shows an overpayment.

We grant you an automatic six-month extension of time to file your

Form IL-1040. You are not required to file Form IL-505-I in order to

Late-payment penalty — You owe this penalty if you do not pay the

obtain this automatic extension. However, you should use

tax you owe by the original due date of the return, even if you have

Form IL-505-I to pay any tentative tax due in order to avoid any

an extension of time to file. You also owe this penalty if you are

late-payment penalty and interest on tax not paid by April 15, 2000.

required to make estimated tax payments and fail to do so, or fail to

make your payments timely.

Due to the automatic six-month extension, any

Form IL-1040-X filed on or before October 15, 2000, (calendar year

Interest — You owe interest on any unpaid tax and penalties from

filers) will be considered a “corrected return” rather than an amended

the day after the original due date of your return through the date

return.

you pay the tax and penalties. Interest is simple interest figured

using a daily rate. The rate is reviewed twice each year – on January

Additional extension beyond six months

1 and July 1 – and adjusted according to the underpayment rate

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

established in the Internal Revenue Code.

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

We will bill you for penalties and interest. For more information, see

months if the Internal Revenue Service grants you an additional

Publication 103, Uniform Penalties and Interest. To receive a copy of

extension ( e.g., federal Form 2688, Application for Additional

this publication, refer to the back of this form for optional ways of

Extension of Time To File).

receiving this publication.

IL-505-I front (R-12/99)

Return only the bottom portion with your payment.

Illinois Department of Revenue

Voucher

IL-505-I 1999

Automatic Extension Payment

for Individuals

Official Use

(R-12/99)

For calendar year ending

12/99 or fiscal year ending

Month and year

Your Social Security number

Spouse’s Social Security number

$ _____________

_____

Tentative tax due

Your first name & initial

Spouse’s first name (& last name if different)

Your last name

Street address

City

State

ZIP

(

)

Make your check or money order

Daytime phone number

Official Use

payable to and mail this voucher to:

If no payment is due, do not file this form.

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

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

SPRINGFIELD IL 62794–9005

Form Il-505-I - Automatic Extension Payment For Individuals - 1999

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