Form Il-2220 - Computation Of Penalties For Businesses - 2013
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1
2
3Illinois Department of Revenue
IL-2220
2013
Computation of Penalties for Businesses
Attach to your Forms IL-1120, IL-1120-ST, IL-1065, IL-1041, IL-1023-C, or IL-990-T
IL Attachment No. 19
-
We encourage you to let us figure your penalties and send you a bill, instead of completing this form
Read this information first
yourself. You must complete this form if you are using the annualized income installment method for late-payment penalty for underpayment of
estimated tax in Step 6.
You do not owe the late-payment penalty for underpayment of estimated tax if you made timely estimated payments equaling at least 90 percent of
this year’s tax liability or 100 percent of the prior year’s tax liability (provided you reported a liability in the prior year and it was not a short taxable year).
The late-payment penalty for underpayment of estimated tax is based on the tax shown due on your original return. Do not use the tax shown on an
amended return filed after the extended due date of the return to compute your required installments in Step 2.
Step 1: Provide the following information
This form is for 2013 calendar year or fiscal year beginning __ __/__ __ 2013, and ending __ __/__ __/__ __ __ __.
1
Month
Day
Month
Day
Year
Write your FEIN as it appears on your annual return.
2
2
Write your name as it appears on your annual return.
3
3
4 If your prior year return was filed under a different FEIN
than the one shown on Line 2, 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 and surcharge 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.
00
00
You may be required to make installments even if you write “N/A” in Column B. See instructions. 5
00
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 the lesser
of Column A, Line 6, or Column B, Line 5. (If Column A, Line 5 is more than $400 and you
00
wrote “N/A” in Column B, Line 5, write the amount from Column A, Line 6.) See instructions. 7
8 Divide the amount on Line 7 by four. This is the amount of each required installment.
00
(If you used the annualized income installment method, see instructions for Line 10.)
8
9 Write in Quarters 1 through 4, the
Quarter 1
Quarter 2
Quarter 3
Quarter 4
installment date that corresponds
with the 15th day of the 4th, 6th, 9th,
and 12th month of your tax year.
__ __/__ __/__ __ __ __ __ __/__ __/__ __ __ __
__ __/__ __/__ __ __ __
__ __/__ __/__ __ __ __
9
10 Write the required installment.
00
00
00
00
See instructions.
10
11 Write the amount of credit carried
forward from the prior year, any
pass-through entity payment, and
any gambling withholding shown on
00
00
00
00
Form W-2G. See instructions.
11
12 Subtract Line 11 from Line 10.
00
00
00
00
If the amount is negative, use brackets. 12
13 If the amount on Line 14 of the
previous quarter is negative,
write that amount as a positive
Skip this line for Quarter 1.
00
00
00
here. Otherwise, write “0.”
13
14 Subtract Line 13 from Line 12.
00
00
00
00
If the amount is negative, use brackets. 14
Step 3: Figure your unpaid tax
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all taxpayers
00
15 Write your total net income and replacement tax (and surcharge, if applicable). See instructions.
15
16 a Write the total amount of all payments made on or before the original due date of your
tax return. Include your credit carryforward from the prior year, total estimated payments
made this year, 505-B payments, any pass-through entity payments made on your behalf,
annual payments made with your tax return or “V” vouchers, electronic payments, and
00
any gambling withholding shown on Form W-2G.
16a
00
b Form IL-1120 filers only: Write the total of all Columns, Line 10. All others, write zero. 16b
00
Write the greater of Line 16a or Line 16b here.
16
17 Subtract Line 16 from Line 15. If this amount is
—positive, write that amount here. Continue to Step 4 and write this
amount in Penalty Worksheet 2, Column C, Line 21.
00
—zero or negative, write that amount here and, if negative, use brackets.
*334201110*
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IL-2220 (R-12/13)
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