Form Il-2220 - Computation Of Penalties For Businesses - 2015 Page 2
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3Step 4: Figure your late-payment penalty
*534202110*
Use Penalty Worksheet 1 to figure your late-payment penalty for underpayment of estimated tax.
Use Penalty Worksheet 2 to figure your late-payment penalty for unpaid tax.
You must follow the instructions in order to properly complete the penalty worksheets.
18
Enter the amount and the date of each payment you made. Include any credit(s) carried forward from a prior year. See instructions.
Amount
Date paid
Amount
Date paid
Amount
Date paid
a
_ _/_ _/_ _ _ _
e
_ _/_ _/_ _ _ _
i
_ _/_ _/_ _ _ _
b
_ _/_ _/_ _ _ _
f
_ _/_ _/_ _ _ _
j
_ _/_ _/_ _ _ _
c
g
k
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
d
h
l
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
Number of days late
Penalty rate
Penalty rates
1 - 30 ........................... .02
31 or more ...................... .10
Penalty Worksheet 1 —
-
Late-payment penalty for underpayment of estimated tax
Form IL-1120 filers only
If you paid the required amount from Line 14 by the payment due date on Line 9 for each quarter, do not complete this worksheet.
19
Enter the unpaid amounts from Line 14, Quarters 1 through 4, on the first line of the appropriate quarters in Column C below.
A
B
C
D
E
F
G
H
I
Due
Unpaid
Payment
Balance due
Payment
No. of
Penalty rate
Period
date
amount
applied
(Col. C - Col. D)
date
days late (see above)
Penalty
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
Qtr. 1
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
Qtr. 2
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
Qtr. 3
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
Qtr. 4
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
20
Add Column I, Quarters 1 through 4. This is your late-payment penalty for underpayment of estimated tax.
20
Enter the total amount here and on Form IL-1120, Step 8, Line 54.
You may apply any remaining overpayment from the 4th quarter in Column E above to any underpayment when figuring
Penalty Worksheet 2, only if the payment date in Column F is after the original due date of the return.
Penalty Worksheet 2 —
Late-payment penalty for unpaid tax
21
Enter any positive amount from Line 17 on the first line of Column C below.
A
B
C
D
E
F
G
H
I
Due
Unpaid
Payment
Balance due
Payment
No. of
Penalty rate
date
amount
applied
(Col. C - Col. D)
date
days late (see above)
Penalty
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
Return
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
_ _/_ _/_ _ _ _
22
Add Column I. This is your late-payment penalty for unpaid tax.
22
Enter the total amount here and on Step 5, Line 26.
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
information is REQUIRED. Failure to provide information could result in a penalty.
IL-2220 (R-12/15)
Page 2 of 3
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