Enlarge image | 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-I Automatic Extension Payment 2022 for Individuals Filing Form IL-1040 What is the purpose of Form IL-505-I? Will I owe penalties and interest? The purpose of Form IL-505-I, Automatic Extension Payment, is to You will owe a provide taxpayers who are unable to file their tax return by the due late-filing penalty if you do not file a processable return by the date a means of calculating and remitting their tentative tax liability extended due date, (including any other taxes you will report on your Form IL-1040) on or late-payment penalty if you do not pay the tax you owe by the before the original due date of the return (see "When should I file and original due date of the return, and pay?"). bad check penaltyif your remittance is not honored by your financial institution. Who must file Form IL-505-I? You will owe interest on tax from the day after the original due date of your return through the date you pay the tax. We will bill you for You must file Form IL-505-I if all of the following apply to you: penalties and interest. you cannot file your tax return by the due date, and For more information about penalties and interest, see you will owe a tentative tax (complete the Tax Payment Worksheet Publication 103, Penalties and Interest for Illinois Taxes. To receive on the back of this page to determine this), and a copy of this publication, see "What if I need additional forms or you submit your payment by paper check or money order (i.e., assistance?" on the back of this form. you do not use any electronic means, such as electronic funds transfer, to make your payment). If Line 7 of the worksheet shows you owe tentative tax, you must What should I attach to my Form IL-1040? pay the full amount due by the original due date of the return. An If you file your return within the automatic six-month extension period, extension of time to file does not extend the amount of time you do not attach anything to your return to explain your delayed filing. have to make your payment. If you file your return after the automatic six-month extension period Do not file Form IL-505-I if: and the IRS grants you an extension of more than six months, you after you complete the Tax Payment Worksheet, you find that must attach a copy of the document granting your federal extension you do not owe additional tax, or to your tax return to avoid a late-filing penalty. you make your extension payment electronically by credit card, electronic funds transfer (EFT), or bank account debit. Be sure to claim any Form IL-505-I payments on your 2022 Form IL-1040, Line 26. If an unpaid liability is disclosed when you file your return, you may owe penalty and interest charges in addition to the tax. See What if I need additional forms or assistance? “Will I owe penalties and interest?” • Visit our website at tax.illinois.gov for assistance and forms What are the extensions? • Write to us at: ILLINOIS DEPARTMENT OF REVENUE Automatic Illinois six-month extension PO BOX 19001 We automatically grant you a six-month extension of time to file your SPRINGFIELD, ILLINOIS 62794-9001 tax return. For calendar year filers, the filing date is automatically extended to October 15. You are not required to file Form IL-505-I to • Call 1 800 732-8866 or 217 782-3336 (TDD, telecommunications obtain this automatic extension. However, you must pay any tentative device for the deaf, at 1 800 544-5304). tax due by the original due date of your return in order to avoid any • Visit a taxpayer assistance office - 8:00 a.m. to 5:00 p.m. (Spring- late-payment penalty and interest on unpaid tax. field office) and 8:30 a.m. to 5:00 p.m. (all other offices), Monday through Friday. Additional extension beyond six months If you cannot file your tax return within the automatic six-month extension period, we will grant you an extension of more than six What if I want to pay electronically? months to file only if the Internal Revenue Service (IRS) grants you Use one of the following electronic payment options: an additional extension. Online – Visit our website at mytax.illinois.gov to have your payment taken from your checking or savings account. You will When should I file and pay? need your IL-PIN (Illinois Personal Identification Number). If you owe any tentative tax, and you pay with a paper check or Credit Card – Use your MasterCard, Discover, American Express, money order, file Form IL-505-I along with your payment on or before or Visa. The credit card service provider will assess a convenience the original due date of your annual return, or as soon as you realize fee. Have your credit card ready and visit our website or call one of you owe tentative tax. the following: Official Payments Corporation at 1 833 747-1434. Value Payment Systems at 1 888 9-PAY-ILS (1 888 972-9457). Where should I file? Link2Gov/FIS at 1 877 57-TAXES (1 877 578-2937). Mail your Form IL-505-I to: Illinois Department of Revenue, P.O. Box 19005, Springfield, Illinois 62794-9005. Make your check or money order payable to “Illinois Department of Revenue.” Be sure to write your Social Security number, tax year, and “IL-505-I” on your payment. IL-505-I (R-12/22) This form is authorized as outlined under the Illinois Income Tax Act. Disclosure of Printed by authority of the State of Illinois, web only, 1. this information is required. Failure to provide information could result in a penalty. Page 1 of 3 |
Enlarge image | Instructions for Tax Payment Worksheet Line 1 – Income tax and other taxes Line 5 – Estimated allowable credits Enter the total amount of individual income tax you expect to owe Enter any estimated allowable income tax credits for and any other taxes you will report on your Form IL-1040. Use income tax paid to other states, Form IL-1040 as a worksheet and complete Lines 1 through 14 to Illinois Property Tax paid, determine the income tax you expect to owe and Lines 20, 21, and education expenses, 22 to determine any other taxes you will report on your Form IL-1040. earned income, Add your expected income tax due and other taxes from Form pass-through entity tax credit, and IL-1040 and enter the result here. credits from Schedule 1299-C, Income Tax Subtractions and Credits (for individuals). Line 2 – Withholding and pass-through withholding See instructions for Form IL-1040, Schedule CR, Credit for Tax Paid Enter the amount of Illinois Income Tax withheld from your wages or to Other States, Schedule ICR, Illinois Credits, Schedule IL-EIC, other income for the tax year and pass-through withholding made on your behalf for 2022 and reported to you on Schedule K-1-P or K-1-T. Illlinois Earned Income Credit, and Schedule 1299-C. Line 3 – Estimated income tax payments Line 6 – Total tax payments and credits Enter the total amount of Illinois estimated payments you made with Add Lines 2 through 5, and enter the total on Line 6. Form IL-1040-ES for the tax year. Include any overpayment credited Line 7 – Tentative tax due to your 2022 tax. Subtract Line 6 from Line 1. Round the result to whole dollars and enter it on Line 7 and on Form IL-505-I. This is your tentative tax due. Line 4 – Previous Form IL-505-I payment If the amount is $1 or more, you must pay this amount. You may pay Enter the amount of Illinois Income Tax you paid with any previous Form IL-505-I for this tax year. electronically (by credit card, EFT, or Electronic Funds Withdrawal) or file this form and attach your payment. If the tax due is less than $1, stop. Do not file this form. No payment is due. Tax Payment Worksheet for Your Records 1 Enter the total income and other taxes you expect to owe and report on Form IL-1040. 1 2 Enter your Illinois Income Tax withheld and pass-through withholding. 2 3 Enter your Illinois estimated payments and any overpayment credited to 2022. 3 4 Enter any tax payment made for tax year 2022 with a previous Form IL-505-I. 4 5 Enter the estimated allowable credits for income tax paid to other states, Illinois Property Tax paid, education expenses, earned income, pass-through entity tax credit, and credits from Schedule 1299-C. 5 6 Total tax payments and credits. Add Lines 2 through 5. 6 $ 0.00 7 Tentative tax due – Subtract Line 6 from Line 1. Round to whole dollars and enter here and on Form IL-505-I. 7 $ 0 IL-505-I (R-12/22) Page 2 of 3 |
Enlarge image | We encourage all taxpayers to pay electronically whenever possible. By paying electronically, you can . . . Avoid mailing delays. Save a trip to the post office and the price of a stamp. Get immediate confirmation of your payment. Visit mytax.illinois.gov to electronically pay. If you prefer to pay the amount of tentative tax you owe on your Form IL-1040, Individual Income Tax Return, by mail, complete the IL-505-I at the bottom of this page and send it, along with your payment, to the address on the voucher. Important: Do not redact Social Security Number(s) as this can cause processing delays. Do not file Form IL-505-I if no payment is due or if you make this payment electronically or by credit card. IL-505-I (R-12/22) Page 3 of 3 Return only the bottom portion with your payment. Illinois Department of Revenue IL-505-I 2022 Automatic Extension Payment for Individuals Official Use Enter your Social Security numbers in the order they appear on your federal return. Do not file this form if no payment is due or you pay - - - - electronically or by credit card. Your Social Security number Spouse’s Social Security number For calendar year ending 12/22 or fiscal year ending / Month and year Your first name & initial Spouse’s first name & initial Your last name Street address $ _____________ Tentative tax due (Whole dollars._____only) Make your check or money order payable to and mail to: ILLINOIS DEPARTMENT OF REVENUE City State ZIP PO BOX 19005 ( ) SPRINGFIELD IL 62794–9005 Daytime phone number IL-505-I (R-12/22) *71212221W* Reset Print |