Form Il-516-I And Form Il-516-B - Pass-Through Prepayment Voucher (For Withholding From Individuals And Estates)/ Pass-Through Prepayment Voucher (For Withholding From Corporations, Partnerships, And Trusts) - 2015
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7Illinois Department of Revenue
Form IL-516-I and Form IL-516-B
2015
What is the purpose of Form IL-516-I and
What are the voluntary prepayment due dates?
Form IL-516-B?
Prepayments using Form IL-516-I or Form IL-516-B are
entirely voluntary. There are no required due dates for making
Form IL-1023-C, Composite Income and Replacement Tax
prepayments. However, we do provide a suggested payment
Return, and Form IL-1000, Pass-through Entity Payment Income
schedule on Form IL-516-I and Form IL-516-B that you may
Tax Return, have been eliminated for tax years ending on or after
follow if you wish to make your prepayments in four equal
December 31, 2014. Amounts that would have been reported
installments during the course of a year.
on Form IL-1023-C and Form IL-1000 will be reported on Form
IL-1065, Partnership Replacement Tax Return, Form IL-1120-ST,
Can I use another voucher to make
Small Business Corporation Replacement Tax Return, or Form
prepayments?
IL-1041, Fiduciary Income and Replacement Tax Return. In
No. Using a voucher other than Form IL-516-I or Form IL-516-B
addition, these amounts will be paid with those returns, with Form
to make these voluntary prepayments may result in your funds
IL-505-B, Automatic Extension Payment, or voluntarily prepaid
being misapplied to other tax types, and result in processing
with Form IL-516-I or Form IL-516-B, Pass-through Prepayment
delays when you file your annual Illinois Income Tax return (i.e.,
Vouchers.
Form IL-1065, Form IL-1120-ST, or Form IL-1041).
Form IL-1023-CES, Composite Estimated Tax Payments for
Can I make my prepayments electronically?
Partners and Shareholders, and Form IL-1000-P, Prepayment
Voucher for Pass-through Entity Payments, also have been
Yes. If you prefer to make your payments electronically, use
eliminated and cannot be used for making prepayments for tax
MyTax Illinois or see Form EFT-1, Authorization Agreement for
years ending on or after December 31, 2014. These vouchers
Certain Electronic Payments. These options can be found on our
have been replaced by Form IL-516-I and Form IL-516-B. Form
website at tax.illinois.gov.
IL-516-I and Form IL-516-B allow taxpayers to voluntarily prepay
If you make your payments electronically, do not send us
their own tax liability from Form IL-1065, Form IL-1120-ST, or
your Form IL-516-I or Form IL-516-B.
Form IL-1041, as well as make voluntary pass-through entity
Where should I mail my prepayments?
prepayments on behalf of their partners, shareholders, or
beneficiaries for tax years ending on or after December 31, 2014.
You should mail your payment, with your voucher, to the address
Should I use Form IL-516-I or Form IL-516-B?
listed on the voucher you are using.
Attach each payment to the Form IL-516-I or Form IL-516-B
Form IL-516-I is used to voluntarily prepay pass-through
voucher. Do not send prepayments with your annual return.
withholding on behalf of your nonresident individual and estate
Make your check or money order payable to “Illinois Department
members only.
of Revenue.”
Form IL-516-B is used to voluntarily prepay your own estimated
What if I need additional assistance?
tax liability as well as to voluntarily prepay pass-through
withholding on behalf of your partnership or S corporation,
•
Visit our website at tax.illinois.gov;
nonresident trust, and corporation members.
•
Call our Taxpayer Assistance Division at 1 800 732-8866,
Depending on the types of your members and whether or not
217 782-3336; or
you wish to prepay your own estimated tax liability, you could file
•
Call our TDD (telecommunications device for the deaf) at
Form IL-516-I, Form IL-516-B, or both. Step 1 will assist you in
1 800 544-5304.
determining which voucher(s) you should use.
Our office hours are 8 a.m. to 5 p.m., Monday through Friday.
Different entity types use different calculations to
determine the amount of voluntary prepayment to be reported on
Form IL-516-I or Form IL-516-B. Follow the instructions on the
Form IL-516-I and Form IL-516-B worksheets to ensure you are
using the correct voucher for the entity type for which you wish to
make prepayments.
Am I required to make prepayments?
No. A partnership, S corporation, or fiduciary is not required to
make prepayments of its own estimated tax liability. It also is
not required to make pass-through withholding prepayments on
behalf of its partners, shareholders, or beneficiaries.
However, it may make voluntary prepayments of such amounts by
filing Form IL-516-I or Form IL-516-B.
Complete the worksheets for Form IL-516-I and Form IL-516-B,
as applicable, to figure your voluntary prepayment amounts.
Form IL-516 Instructions (R-12/14)
Page 1 of 7
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