Form Il-505-B - Automatic Extension Payment For 2012
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1
2Illinois Department of Revenue
IL-505-B
Automatic Extension Payment
(seven months for corporations) if the Internal Revenue Service (IRS)
What is the purpose of Form IL-505-B?
grants you an additional extension.
Form IL-505-B, Automatic Extension Payment, provides taxpayers
If you do not owe any tentative tax, you are not required to file Form
who are unable to file their business income tax return by the due date
IL-505-B. However, you must attach a copy of the approved federal
a means of calculating and remitting their tentative tax liability on or
extension to your annual return when you file it.
before the original due date of the return (see “When should I file and
pay?”).
When should I file and pay?
Who must file Form IL-505-B?
You must file your completed Form IL-505-B, and pay any tentative
tax amount you owe by the original due date of your tax return or as
You must file Form IL-505-B if all of the following apply to you:
soon as you realize you owe tentative tax. This includes annual and
• you are required to file Form IL-1120, IL-990-T, IL-1041, IL-1065,
short-year returns. The due date depends on the type of tax return
IL-1120-ST, or Form IL-1023-C, and
that you file. Refer to the following list of return due dates.
• you cannot file your annual tax return by the due date, and
All dates refer to the months following the close of the taxable year.
• you complete the Tax Payment Worksheet on the back of this
For
Due date
page and determine that you will owe a tentative tax.
• corporations, subchapter
If Line 9 of the worksheet shows you owe tentative tax, pay the full
S corporations
the 15th day of the 3rd month
amount due either by filing and paying with this form or by making your
• partnerships, fiduciaries,
payment electronically. An extension of time to file does not extend
composites, exempt organizations
the amount of time you have to make your payment.
(employee trusts only)
the 15th day of the 4th month
Do not file Form IL-505-B if:
• exempt organizations (all others) the 15th day of the 5th month
• after completing the Tax Payment Worksheet, you find that you do
• cooperatives
the 15th day of the 9th month
not owe additional tax, or
If you file federal Form 1120, U.S. Corporation Income Tax
• you make your extension payment electronically.
Return, and the original due date is later than the 15th day of the 3rd
month, your Form IL-1120 and your payment will be due at the same
Unitary group: If you are a member of a unitary business group that
time as your federal Form 1120.
is filing a combined return, your designated agent must complete one
Form IL-505-B for the entire group as though it is one taxpayer.
Make your check or money order payable to “Illinois Department of
Revenue.” Be sure to write your FEIN, tax year, and “IL-505-B” on
Federal consolidated group: If you are a member of a federal
your payment. Mail your Form IL-505-B, with your payment, to
consolidated group, you must file a separate Form IL-505-B for each
member that is required to file an Illinois tax return. We will not grant
ILLINOIS DEPARTMENT OF REVENUE
“blanket” or consolidated extensions.
PO BOX 19045
SPRINGFIELD IL 62794-9045
Form IL-1023-C filers: If you are filing Form IL-505-B for an extension
to file your Form IL-1023-C, you must write “666” on the “SEQ” line
You may be required to make your payments
on this form.
electronically. For more information, see Informational
Please be aware that if an unpaid liability is disclosed when
Bulletin FY 2011-01.
you file your return, you may owe penalty and interest charges in
What are the penalties and interest?
addition to the tax. See “What are the penalties and interest?”
Penalties — You will owe
What are the extensions?
• a late-filing penalty if you do not file a processable return by the
Automatic Illinois extension —
We grant you an automatic
extended due date;
six-month (seven-month for corporations) extension to file your annual
• a late-payment penalty if you do not pay the tax you owe by the
return whether or not you request the automatic extension. You are not
original due date of the return;
required to file Form IL-505-B to obtain this extension if no tentative tax
• a bad check penalty if your remittance is not honored by your
is due.
financial institution.
Additional federal extension beyond six months —
We
Interest is calculated on tax from the day after the original due date
will grant you an additional extension to file of more than six months
of your return through the date you pay the tax.
IL-505-B front (R-12/12)
Illinois Department of Revenue
IL-505-B
Automatic Extension Payment for 2012
(R-12/12)
Official use only
If no payment is due or you make your payment
Tax year ending
Month
Year
electronically, do not file this form.
$
FEIN:
SEQ:
Print your payment amount on this line.
Name of
Make your check or money order payable to
Organization:
“Illinois Department of Revenue” and return the
voucher and payment to
C/O:
ILLINOIS DEPARTMENT OF REVENUE
Mailing
PO BOX 19045
address
:
SPRINGFIELD IL 62794-9045
Official use only
City:
State:
ZIP:
Phone:
(
)
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