Fillable Form Il-505-B - Automatic Extension Payment For 2014 printable pdf download

Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes.

Illinois Department of Revenue

IL-505-B

Automatic Extension Payment

What is the purpose of Form IL-505-B?

If you do not owe any tentative tax, you are not required to file Form

IL-505-B. However, you must attach a copy of the approved federal

Form IL-505-B, Automatic Extension Payment, provides taxpayers

extension to your annual return when you file it.

who are unable to file their business income tax return by the due date

When should I file and pay?

a means of calculating and remitting their tentative tax liability on or

before the original due date of the return (see “When should I file and

You must file your completed Form IL-505-B and pay any tentative

pay?”).

tax amount you owe by the original due date of your tax return or as

Who must file Form IL-505-B?

soon as you realize you owe tentative tax. This includes annual and

short-year returns. The due date depends on the type of tax return

You must file Form IL-505-B if all of the following apply to you:

that you file. Refer to the following list of return due dates.

• you are required to file Form IL-1120, IL-1065, IL-1120-ST,

All dates refer to the months following the close of the taxable year.

IL-1041, or IL-990-T, and

For

Due date

• you cannot file your annual tax return by the due date, and

• corporations, subchapter

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

S corporations

the 15th day of the 3rd month

page and determine that you will owe a tentative tax.

• partnerships, fiduciaries,

If Line 10 of the worksheet shows you owe tentative tax, pay the full

exempt organizations

amount due either by filing and paying with this form or by making your

(employee trusts only)

the 15th day of the 4th month

payment electronically. An extension of time to file does not extend

• exempt organizations (all others) the 15th day of the 5th month

the amount of time you have to make your payment.

• cooperatives

the 15th day of the 9th month

Do not file Form IL-505-B if:

If you file federal Form 1120, U.S. Corporation Income Tax

• after completing the Tax Payment Worksheet, you find that you do

Return, and the original due date is later than the 15th day of the 3rd

not owe additional tax, or

month, your Form IL-1120 and your payment will be due at the same

time as your federal Form 1120.

• you make your extension payment electronically.

Make your check or money order payable to “Illinois Department of

Unitary group: If you are a member of a unitary business group that

Revenue.” Be sure to write your FEIN, tax year, and “IL-505-B” on

is filing a combined return, your designated agent must complete one

your payment. Mail your Form IL-505-B, with your payment, to

Form IL-505-B for the entire group as though it is one taxpayer.

ILLINOIS DEPARTMENT OF REVENUE

Federal consolidated group: If you are a member of a federal

PO BOX 19045

consolidated group, you must file a separate Form IL-505-B for each

SPRINGFIELD IL 62794-9045

member that is required to file an Illinois tax return. We will not grant

“blanket” or consolidated extensions.

You may be required to make your payments

electronically. For more information, see Informational

Please be aware that if an unpaid liability is disclosed when

you file your return, you may owe penalty and interest charges in

Bulletin FY 2011-01.

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

What are the penalties and interest?

What are the extensions?

Penalties — You will owe

Automatic Illinois extension —

We grant you an automatic

• a late-filing penalty if you do not file a processable return by the

six-month (seven-month for corporations) extension to file your annual

extended due date;

return whether or not you request the automatic extension. You are not

• a late-payment penalty if you do not pay the tax you owe by the

required to file Form IL-505-B to obtain this extension if no tentative tax

original due date of the return;

is due.

• a bad check penalty if your remittance is not honored by your

Additional federal extension beyond six months —

financial institution.

will grant you an additional extension to file of more than six months

Interest is calculated on tax from the day after the original due date

(seven months for corporations) if the Internal Revenue Service (IRS)

of your return through the date you pay the tax.

grants you an additional extension.

IL-505-B front (R-12/14)

Illinois Department of Revenue

IL-505-B

Automatic Extension Payment for 2014

(R-12/14)

Official use only

Tax year ending

If no payment is due or you make your payment electronically, do not file this form.

Month

Year

FEIN:

Name of

Amount of payment (Whole dollars only)

Organization:

Make your check or money order payable to

C/O:

“Illinois Department of Revenue” and return the

voucher and payment to

Mailing

ILLINOIS DEPARTMENT OF REVENUE

address

PO BOX 19045

SPRINGFIELD IL 62794-9045

City:

State:

ZIP:

Reset

Phone:

(

)

Form Il-505-B - Automatic Extension Payment For 2014

Related Articles

Related forms

Related Categories