Form Il-941 Draft - Illinois Quarterly Withholding Income Tax Return And Instructions - 2007
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1
2Illinois Department of Revenue
Form IL-941
Illinois Quarterly Withholding Income Tax Return and Instructions
General Information
Due Date Schedules
File Form IL-941 every quarter even if no
tax was withheld during that quarter (e.g.,
What’s new for 2008?
employees who are seasonal workers).
Semi-weekly (frequent)
Public Act 95-8 made significant changes to
Tax is considered to be withheld on the
the Illinois Income Tax withholding law, which
You must
By
day you pay the wages from which the
become effective January 1, 2008.
tax is withheld.
File
using TaxNet,
The last day of April, July,
Under the new law, all taxpayers will be as-
FSET, or Form IL-941
October, and January
signed to one of three due date schedules:
How do I pay my withholding
semi-weekly, monthly, or annual. Return due
tax?
dates remain quarterly and annually. Each
Monthly
If we assign you to the monthly or semi-
year, we will tell you when your Payment
You must
By
weekly due date schedule, you must make
Coupons (Form IL-501) are due and when to
your payments by the appropriate due date,
file your returns (Form IL-941 or IL-941-A) for
File
using TaxNet,
The last day of April, July,
using a Payment Coupon. If you owe any
the new tax year. You must use the due date
FSET, or Form IL-941
October, and January
additional withholding tax for a quarter, you
schedule we assign to you.
should make your payment with Form IL-941.
Taxpayers who are assigned to the
Annual
annual due date schedule should use
If your annual tax liability meets
the new Form IL-941-A, Illinois Yearly
or exceeds $200,000, you must use an
You must
By
Withholding Income Tax Return, to file
electronic payment method.
File and pay
January 31
using
of the
and pay their withholding tax.
EFTPS, TaxNet, FSET,
following year for
May I file my return
The payment and return due dates are
EFT, or Form IL-941-A
amounts withheld the
determined by the total tax withheld during
electronically?
entire preceding year
the “look-back” period, which is the one-year
Yes, you may file your return electronically
period ending on June 30 of the immediately
Who must file Form IL-941?
using Direct Debit, which is a payment option
preceding calendar year. For this first year,
available when you file electronically using
You must file Form IL-941 if you paid wages,
the look-back period is July 1, 2006, through
TaxNet or Federal State Employment Tax
salaries, and gambling winnings (including
June 30, 2007.
(FSET).
Illinois lottery) that are subject to withholding
Taxpayers who, during the look-back period,
and we assigned you to the monthly or semi-
For additional electronic payment information,
reported
weekly due date schedule. If you have chosen
visit our web site at tax.illinois.gov; call our
• more than $12,000, are assigned to the
the household employer’s method, see Publi-
EFT staff at 217 782-6257; send a fax to
semi-weekly due date schedule.
cation 121, Illinois Income Tax Withholding for
them at 217 524-8282; or write to Electronic
• more than $1,000, but no more than
Household Employees, for filing requirements.
Funds Transfer Division, Illinois Department
$12,000, are assigned to the monthly due
of Revenue, PO Box 19015, Springfield, IL
date schedule.
When must I file and pay?
62794-9015.
• $1,000 or less, are assigned to the annual
If we assigned you to the annual due date
due date schedule.
What if I do not file my returns
schedule, do not file Form IL-941. You must
There are exceptions. New taxpayers
or pay the taxes I owe by the
use Form IL-941-A to file and pay.
are automatically assigned to the month-
ly due date schedule, as are those who
If we assigned you to the monthly or semi-
due dates?
would qualify for the annual due date
weekly due date schedule, you must file your
You will owe a late-filing penalty if you do
schedule, but are not in good standing
return every quarter. They are due on or
not file a processable return by the due date,
with the department.
before the last day of April, July, October, and
and a late-payment penalty if you do not
The size of the coupon has changed. If you
January.
pay the tax you owe by the date the tax is
use a software package, check to make sure
updates have been made.
IL-941
We encourage you to use TaxNet or FSET. Visit tax.illinois.gov
Illinois Department of Revenue
Illinois Quarterly Withholding
Income Tax Return
Complete Lines 1 through 5, reporting the totals for the quarter.
Complete all lines. ___ ___/ ___ ___/ ___ ___ ___ ___
1
Total compensation and gambling winnings (including
Quarter ending
1
Illinois Lottery winnings) subject to withholding.
___________________
2
2
Illinois Income Tax required to be withheld.
___________________
___ ___ - ___ ___ ___ ___ ___ ___ ___
___ ___ ___
Federal employer identification number
Seq. number
3
Withholding payments (electronic and IL-501 payment
3
coupons) plus any overpayment from the previous Form IL-941.
___________________
_______________________________________________
Business name
4
If Line 2 is greater than Line 3, subtract Line 3
from Line 2. This is your balance due. Make your remittance
_______________________________________________
4
Number and street address
payable to “Illinois Department of Revenue.”
___________________
5
If Line 2 is less than Line 3, subtract Line 2 from Line 3.
_______________________________________________
5
City
State
ZIP
This is your overpayment. Claim it on your next Form IL-941.
___________________
Check this box if you have permanently stopped withholding.
(_______)_______________________________________
Daytime phone
Under penalties of perjury, I state that, to the best of my knowledge, this return is true, correct, and complete.
____________________________________ __________________________ ________________
Signature
Daytime telephone number
Date
IL-941 (R-12/07) IL-492-0018
Mail to ILLINOIS DEPARTMENT OF REVENUE, PO BOX 19447, SPRINGFIELD IL 62794-9447
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