Form Il-2220 (Draft) - Computation Of Penalties For Businesses - 2006
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1
2
3Illinois Department of Revenue
IL-2220
2006
Computation of Penalties for Businesses
For original returns only filed on Forms IL-1120, IL-1120-ST, IL-1065, IL-1041, IL-1023-C, or IL-990-T.
Do not use this form with any amended return. See instructions for more information.
IL Attachment No. 19
Step 1: Complete the following information
1
This form is for 2006 calendar year or for fiscal year beginning __ __/__ __/ __ __ __ __, and ending __ __/__ __/__ __ __ __.
Month Day
Year
Month Day
Year
2
2
Write your name as it appears on your annual return.
____________________________________
3
3
Write your FEIN as it appears on your annual return.
___ ___ - ___ ___ ___ ___ ___ ___ ___
4
If your prior year return was filed under a different FEIN
than the one shown on Line 3, write that number here.
4
___ ___ - ___ ___ ___ ___ ___ ___ ___
Step 2: Figure your required installments -
Form IL-1120 filers only
A
B
This year
Last year
5
Write the total net income and replacement tax from Form IL-1120. See instructions.
If prior year’s tax was zero or you filed a short year return, write “N/A” in Column B.
5
________________
________________
6
Multiply Column A, Line 5, by 90% (.9).
6
________________
7
If Column A, Line 5, is $400 or less, write “0” and go to Step 3. Otherwise, write
7
the lesser of Column A, Line 6, or Column B, Line 5. See instructions.
________________
8
Divide the amount on Line 7 by four. This is the amount of each required
installment.
8
________________
( If you used the annualized income installment method, see instructions. )
Quarter 1
Quarter 2
Quarter 3
Quarter 4
9
Write in Quarters 1 through 4, the
installment date that corresponds
with the 15th day of the 4th, 6th, 9th,
9
and 12th month of your tax year.
__ __/__ __/__ __ __ __
__ __/__ __/__ __ __ __
__ __/__ __/__ __ __ __
__ __/__ __/__ __ __ __
10
Write the required installment.
10
________________
________________
________________
________________
See instructions.
11
Write the amount of credit carried
11
forward from the prior year.
________________
________________
Do not write on this line.
________________
Do not write on this line.
________________
Do not write on this line.
12
Subtract Line 11 from Line 10. If
the amount is negative, use brackets.
Write in Quarters 2 through 4,
12
________________
________________
________________
________________
the amount from Line 10.
13
If the amount on Line 14 of the
previous quarter is negative,
write that amount as a positive
13
________________
________________
________________
________________
here. Otherwise, write “0.”
Skip this line for Quarter 1.
14
Subtract Line 13 from Line 12.
If the amount is negative,
14
use brackets.
________________
________________
________________
________________
Step 3: Figure your unpaid tax
15
Write your total net income and replacement tax. See instructions.
15
________________
16 a
Write the amount of your credit carryforward from the prior year and your
16a
total estimated tax payments made this year.
________________
b
Form IL-1120 filers only: Write the amount from Line 7, or, if you
16b
annualized, the total of Line 10. All other filers, write zero.
________________
Write the greater of Line 16a or Line 16b here.
16
________________
17
Write other payments made on or before your original due date.
a
17a
Write the amount and the date of your Form IL-505-B.
___________ __ __/__ __/__ __ __ __
b
17b
Write the amount and the date of any other payment.
___________ __ __/__ __/__ __ __ __
17
Add Lines 17a and 17b.
________________
18
Add Lines 16 and 17.
18
________________
19
Subtract Line 18 from Line 15. If this amount is
—positive , write that amount here. Continue to Step 4 and write this amount in
Penalty Worksheet 1, Line 21, Column C.
—zero or negative, write that amount here and, if negative, use brackets. Continue to Step 4,
skip Penalty Worksheet 1, and go to Penalty Worksheet 2. You may apply this overpayment
to any underpayment when figuring your Penalty Worksheet 2. See instructions.
19
________________
IL-2220 (R-12/06)
Page 1 of 3
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