We have updated 46 results for 2020 illinois income tax deadline

vystates.com updates the latest breaking news and information across all of the US. 

Below are 46 results for 2020 illinois income tax deadline.

wkms.org

Illinois Gov. J.B. Pritzker on Wednesday delayed the deadline for filing state income tax returns by three months as officials reported the state’s…

cbsnews.com

Coronavirus In Illinois: Gov. JB Pritzker Extends Income Tax Filing Deadline Until July 15; 330 New COVID-19 Cases, 3 More Deaths March 25, 2020 / 4:34 PM / CBS Chicago

portebrown.com

Illinois Governor J.B. Pritzker announced the state’s income tax filing and payment extension would be pushed back three months to accommodate families...

People also ask
  • What is the federal income tax rate in Illinois?

    Your 2020 Federal Income Tax ComparisonYour marginal federal income tax rate remained at 22.00%.Your effective federal income tax rate changed from 12.96% to 12.81%.Your federal income taxes changed from ,787 to ,675.


    climbing up the corporate ladder
    • Statutory - 35 ILCS 5/101 to 5/1701
    • Regulations - Part 100

    Definitions

    The Illinois Income Tax is imposed on every taxpayer earning or receiving income in Illinois. The tax is calculated by multiplying net income by a flat rate. The Illinois Income Tax is based, to a large extent, on the federal income tax code.

    Replacement Tax, also known as Personal Property Replacement Tax, is a tax on the net income of corporations, subchapter S corporations, partnerships, and trusts. This tax replaces money lost by local governments when their power to impose personal property taxes was taken away. Replacement tax is collected from corporations, subchapter S corporations, partnerships, and trusts by the State of Illinois and paid to local governments.

    Tax rate

    Use the Tax Rate Database to determine the corporation income and replacement tax rates.

    Tax base

    The starting point for the Illinois Corporate Income and Replacement Tax Return is federal taxable income, which is income minus deductions. Next, the federal taxable income is changed by adding back certain items (e.g., state, municipal, and other interest income excluded from federal taxable income) and subtracting others (e.g., interest income from U.S. Treasury obligations). The result is “base income.”

    See the Illinois Department of Revenue Income Tax Credits and Expirations spreadsheet for information about income tax credits. 

    Filing requirements

    You must file Form IL-1120, Corporation Income and Replacement Tax Return, if you are a corporation that

    • has net income or loss as defined under the Illinois Income Tax Act (IITA); or
    • is qualified to do business in the state of Illinois and is required to file a federal income tax return (regardless of net income or loss).

    Due dates

    For tax years beginning on or after January 1, 2016 -
    Determine the date your tax year ends. If your tax year ends on
    • a date other than June 30, Form IL-1120 is due on or before the 15th day of the 4th month following the close of the tax year.
    • June 30, Form IL-1120 is due on or before the 15th day of the 3rd month following the close of the tax year.

    Note: If you are a cooperative, Form IL-1120 is due on the 15th day of the 9th month following the close of the tax year regardless of when your tax year ends.

    For tax years beginning before January 1, 2016 -
    • Form IL-1120 is due on or before the 15th day of the 3rd month following the close of the tax year.
    • Automatic filing extension
    You are not required to file a form  to obtain this automatic extension. However, if you expect tax to be due, you must  pay any tentative tax due by the original due date of the returto avoid interest and penalty on tax not paid. An extension of time to file your Form IL-1120 does not extend the amount of time you have to pay your Illinois tax liabilitySee Make a Payment for payment options.
    For tax years beginning on or after January 1, 2016 -
    Determine the date your tax year ends. If your tax year ends on
    • a date other than June 30, we grant you an automatic six-month extension of time to file your corporate tax return.
    • June 30, we grant you an automatic seven-month extension of time to file your corporate tax return.

    Note: If you are a cooperative, we grant you an automatic six-month extension of time to file your corporate return regardless of when your tax year ends.

    For tax years beginning before January 1, 2016 -
    • We grant you an automatic seven-month extension of time to file your corporate tax return.

    Note: If you are a cooperative, we grant you an automatic seven-month extension of time to file your corporate return.

    For amended returns claiming a credit or refund filed on or after June 25, 2021, IDOR has an automatic six month extension of time to issue an assessment of additional tax due if the amended return is filed within six months of the original expiration of the statute of limitations.

    State Change
    • If your change creates or increases the Illinois net loss for the year, you must file Form IL-1120-X showing the increase in order to carry the increased loss amount to another year.
    • If your change increases the tax due to Illinois, you should file Form IL-1120-X and pay the tax, penalty, and interest promptly.
    • If your change decreases the tax due to Illinois and you are entitled to a refund or credit carryforward, you must file Form IL-1120-X within
      • three years after the due date of the return (including extensions),
      • three years after the date your original return was filed, or
      • one year after the date your Illinois tax was paid, whichever is latest.
    Federal Change
    • If your federal change decreases the tax due to Illinois and you are entitled to a refund or credit carryforward, you must file Form IL-1120-X within two years plus 120 days of federal finalization.
    • If your federal change increases the tax due to Illinois, you must file Form IL-1120-X and pay any additional tax within 120 days of IRS partial agreement or finalization. To avoid late payment penalties, you must attach proof of the federal finalization date, showing the change was reported to Illinois within 120 days of IRS acceptance, or you may be assessed a late-payment penalty.

    Note: You should not file Form IL-1120-X until you receive a federal finalization notification from the IRS stating that they have accepted your change, either by paying a refund, or by final assessment, agreement, or judgment. Acknowledgement that the IRS received your amended return is not acceptable proof of federal finalization.

    Estimated payments

    Corporations (other than S corporations) who can reasonably expect their income and replacement tax liability to be more than 0 must make quarterly estimated payments. Estimated Payments are due on the 15th day of the 4th, 6th, 9th, and 12th months of the tax year. Corporations are encouraged to use an electronic method to make estimated payments. Corporations who mail estimated tax payments must complete Form IL-1120-V, Payment Voucher for Corporation Income and Replacement Tax.

    What if I need to correct or change my return?

    If you need to correct or change your return after it has been filed, you must file Form IL-1120-X, Amended Corporation Income and Replacement Tax Return. Returns filed before the extended due date of the return are treated as your original return for all purposes. You should file Form IL-1120-X only after you have filed a processable Illinois Income Tax return. You must file a separate Form IL-1120-X for each tax year you wish to change. For more information see Form IL-1120-X Instructions. 

    Note: Do not file another Form IL-1120 with "amended" figures to change your originally filed Form IL-1120. 

    Illinois Income Tax Calculator
  • How do I file my Illinois tax return?

    an Illinois resident, you must file Form IL-1040 if. you were required to file a federal income tax return, or. you were not required to file a federal income tax return, but your Illinois base income from Line 9 is greater than your Illinois exemption allowance. an Illinois resident who worked in Iowa, Kentucky, Michigan, or Wisconsin, you must file Form IL-1040 and include as Illinois income any compensation you received from an employer in these states.

    Use MyTax Illinois to electronically file your original Individual Income Tax Return. It’s easy, free, and you will get your refund faster.

    You are eligible to file an original IL-1040 via MyTax Illinois if you

    • have not filed an individual income tax return for this tax year;
    • are an established Illinois taxpayer or have a valid Illinois Driver’s License or Illinois State Identification Card;
    • have a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN); and
    • have a valid email address.

    Some common documents, records, or receipts you may need to help you file are

    • a copy of your federal income tax return and schedules;
    • copies of all W-2 and 1099 forms;
    • tax returns you filed with other states;
    • your property number and amount of property tax paid;
    • receipts for qualified education or moving expenses; and
    • your routing and account number if you are due a refund and choose to deposit your refund directly into your checking or savings account.

    What if I already filed Form IL-1040?

    DO NOT mail a copy of your return. Submitting multiple original returns will cause processing delays.

    What about my refund?
    You can check the status of your refund here: Where’s my refund?

    Made an error, forgot something, or need to amend?
    If you discover that you made an error or forgot to include income, withholding, or another credit on your original return, you must file Form IL-1040-X, Amended Individual Income Tax Return. Learn more about filing Form IL-1040-X on MyTax Illinois.

    I received a Return Correction Notice (RCN). What should I do?
    DO NOT file another Form IL-1040. Please respond to the RCN as directed.

    Filing Requirements
  • What are the filing requirements for Illinois?

    Illinois employers with more than 100 employees in the state (“covered employers”) which file an EEO-1 with the federal government ... Given the breadth of the applicable EPRC application requirements, Illinois employers are advised to take action ...
    Significant Equal Pay Reporting Requirements to Take Effect for Illinois …
  • Who has to file Illinois tax return?

    • an Illinois resident who worked in Iowa, Kentucky, Michigan, or Wisconsin,you must file Form IL-1040 and include as Illinois income any compensation you received from an employer in these states. Compensation paid to Illinois residents working in these states is taxed by Illinois.

    Use MyTax Illinois to electronically file your original Individual Income Tax Return. It’s easy, free, and you will get your refund faster.

    You are eligible to file an original IL-1040 via MyTax Illinois if you

    • have not filed an individual income tax return for this tax year;
    • are an established Illinois taxpayer or have a valid Illinois Driver’s License or Illinois State Identification Card;
    • have a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN); and
    • have a valid email address.

    Some common documents, records, or receipts you may need to help you file are

    • a copy of your federal income tax return and schedules;
    • copies of all W-2 and 1099 forms;
    • tax returns you filed with other states;
    • your property number and amount of property tax paid;
    • receipts for qualified education or moving expenses; and
    • your routing and account number if you are due a refund and choose to deposit your refund directly into your checking or savings account.

    What if I already filed Form IL-1040?

    DO NOT mail a copy of your return. Submitting multiple original returns will cause processing delays.

    What about my refund?
    You can check the status of your refund here: Where’s my refund?

    Made an error, forgot something, or need to amend?
    If you discover that you made an error or forgot to include income, withholding, or another credit on your original return, you must file Form IL-1040-X, Amended Individual Income Tax Return. Learn more about filing Form IL-1040-X on MyTax Illinois.

    I received a Return Correction Notice (RCN). What should I do?
    DO NOT file another Form IL-1040. Please respond to the RCN as directed.

    Filing Requirements - Filing Requirements - Illinois
repweber.com

The filing deadline for Illinois income tax returns has been extended from April 15, 2020, to July 15, 2020. Read More. District Office. 74 E. Grand Ave., Suite 104 Fox Lake, IL 60020 847-629-5439. Springfield Office. 209-N Stratton Building Springfield, IL 62706 217-782-1664.

drakesoftware.com

Individual Income Tax Deadline: July 15, 2020. Colorado. " The income tax payment deadline has been extended for all Colorado taxpayers by 90 days until July 15, 2020. All income tax returns that were required to be filed by April 15, 2020 are granted a six-month extension, and are due on or before October 15, 2020."

www2.illinois.gov

The due date for calendar year filers is April 15 of the year following the tax year of your return, unless April 15 falls on a weekend or holiday. We grant an automatic six-month extension of time to file your return. If you receive a federal extension of more than six months, you are automatically allowed that extension for Illinois.

www2.illinois.gov

These extensions do not grant you an extension of time to pay any tax you owe. If you determine that you will owe tax, you must use Form IL-505-I, Automatic Extension Payment for Individuals, to pay any tax you owe to avoid penalty and interest on tax not paid by April 18, 2022. MyTax Illinois is an easy way to pay your IL-505-I payment. If you do not expect to owe tax, …

Individual Federal and Illinois Income Tax Deadline for ...

The Internal Revenue Service and the State of Illinois have officially moved the 2020 income tax filing deadline for individuals to May 17, 2021 from April 15, 2021. Individual taxpayers can also postpone Federal and Illinois income tax payments due for the 2020 tax year to May 17, 2021 without incurring additional penalties or interest.

The Internal Revenue Service and the State of Illinois have officially moved the 2020 income tax filing deadline for individuals to May 17, 2021 from April 15, 2021. Individual taxpayers can also postpone Federal and Illinois income tax payments due for the 2020 tax year to May 17, 2021 without incurring additional penalties or interest.  

While this is welcome news for some taxpayers, there are a number of concerns that this limited extension does not address. The IRS extension does not:

  • Extend the time for paying first quarter estimated income taxes for the 2021 tax year. These payments remain due on April 15, 2021. It is difficult for taxpayers to determine the amount of the estimated tax required without, at least, a reasonable estimate of their 2020 tax situation. Without an extension of these payments, the filing extension to May 17, 2021 has minimal value for many taxpayers.
  • Extend other tax filings and payments that are currently due on April 15, 2021, including: • Federal and Illinois income tax filings and tax payments for the calendar year 2020 trust returns; and

    • Federal and Illinois income tax filings and tax payments for the calendar year 2020 corporate returns.

The state and local tax authorities are not obligated to match the Federal extension either. While several states like Illinois have independently extended their due dates, the vast majority have not and we await separate guidance on a jurisdiction-by-jurisdiction basis.

We will keep you informed as additional guidance becomes available.

If you have questions or concerns regarding this Client Alert, please contact Frank Washelesky at [email protected] or your ORBA advisor.

Forward Thinking

2020 IRS and Illinois Income Tax Filing Season Extended to ...

22-03-2021 · In the event a taxpayer does not make sufficient quarterly estimated tax payments, the IRS may assess estimated tax penalties. 2020 Illinois Income Tax Extension. On March 18, 2021, Governor Pritzker announced that the 2020 Illinois tax filing and payment deadline would be extended from April 15 to May 17, 2021, giving all Illinois taxpayers an ...

22-03-2021

2020 Federal Income Tax Extension

On March 17, 2021, the IRS announced that the due date for individuals to file their 2020 federal income tax returns (e.g., Form 1040, 1040-EZ) will be automatically extended from April 15, 2021 to May 17, 2021. Individual taxpayers do not need to do anything to qualify for the extension. The extension includes both filing and non-estimated payment obligations, which means that interest and delinquency penalties will not accrue for payments made on or before May 17, 2021.

Any taxpayers needing additional time to prepare and file their 2020 tax returns can submit a Form 4868 extension of time to file, which will extend the filing deadline to October 15, 2021. However, the Form 4868 will not extend the payment deadline, so all income taxes must be paid by May 17th to avoid interest and penalties.

While the extension includes individuals who report self-employment income through Schedule C or flow-through income on Schedule E, it does not presently include partnerships, limited liability companies, or S corporations filing Forms 1065 or 1120S which were due March 15, 2021. The extension also does not presently cover C corporations filing Form 1120 which are due by April 15, 2021.

Finally, the extension does not apply to first quarter 2021 estimated tax payments which are due April 15, 2021. In general, estimated tax payments must be paid for independent contractors, self-employed individuals, and other individuals who do not have taxes withheld from their income. The amount of estimated taxes is generally based on the lesser of: (i) 90% of the tax estimated for 2021, or (ii) 100% of the tax shown on the 2020 tax return. Estimated tax payments are made by filing Form 1040-ES with payment each quarter. In the event a taxpayer does not make sufficient quarterly estimated tax payments, the IRS may assess estimated tax penalties.

2020 Illinois Income Tax Extension

On March 18, 2021, Governor Pritzker announced that the 2020 Illinois tax filing and payment deadline would be extended from April 15 to May 17, 2021, giving all Illinois taxpayers an extra month to file and pay their 2020 income tax liabilities. Taxpayers expecting liabilities may benefit by this extension by deferring payment. Taxpayers expecting refunds can still file at any time to receive their refund ahead of the deadline.

However, first quarter 2021 estimated tax payments are still due on April 15, 2021. The amount is the estimated payment should either be: (i) 100% of the estimated liability for 2021, (ii) 90% of the actual liability for 2021, or (iii) 100% of actual liabilities for 2019 or 2020.

Similar to the federal extension, the Illinois extension only applies to individuals, and does not cover businesses.

Sandra Mertens
[email protected]

nbcchicago.com

Illinois Extends Income Tax Filing Deadline, Pritzker Announces The extension does not apply to estimated tax payments due on April 15, 2021, according to Pritzker's office. Published March 18 ...

Illinois Estimated Tax Payment Rules for 2020

As we previously reported, Illinois extended the filing and payment deadline for 2019 income tax returns to July 15, 2020. However, Illinois did not extend the due date for taxpayers who need to remit estimated tax payments for calendar year 2020. The first Illinois estimated tax payment for individual’s 2020 returns remains due April 15, 2020.

As we previously reported, Illinois extended the filing and payment deadline for 2019 income tax returns to July 15, 2020. However, Illinois did not extend the due date for taxpayers who need to remit estimated tax payments for calendar year 2020.

The first Illinois estimated tax payment for individual’s 2020 returns remains due April 15, 2020.

WHAT ARE THE NEW RULES?

You now have a few more choices for determining the amount of your 2020 Illinois individual estimates sufficient to avoid penalties for late payment of estimated taxes.

  • Pay the lesser of 90% of the tax liability for the tax year 2020 in four equal installments;
  • Pay 100% of the tax liability for the year 2019 in four equal installments; or
  • Pay 100% of the tax liability for the year 2018 in four equal installments.

Illinois also modified the rules regarding the treatment of a 2019 overpayment applied to 2020 estimated taxes. The 2020 estimated tax period that the overpayment can be applied to will depend on when it was originally received. If the overpayment is the result of 2019 tax payments received on or before April 15, 2020, it will be applied against the 2020 first quarter required estimated tax installment due on April 15, 2020.  If the overpayment results from a tax payment made with the extension on or around July 15, 2020, it would apply to the third quarter required estimated tax payment for 2020.

Taxpayers who do not receive their income evenly throughout the year can still annualize their estimated tax payments to match when they earn their income.

Related Read:  Illinois Income Tax Filing and Payment Extension Not Perfect

If you have questions or concerns regarding this Client Alert, please contact Joseph Odzer at [email protected] or your ORBA advisor.

Forward Thinking

tax.illinois.gov

The Illinois Department of Revenue is taking proactive measures to prevent the spread of COVID-19. At this time, a limited number of taxpayer phone system agents are available. Due to the reduced number of agents taking calls, wait times may be longer than normal. Taxpayers can save time and avoid the wait by contacting the department by email.

404 image
404 image
404 image
404 image

404 image

404 image

404 image

container--> /soi-body-->

/s4-bodyContainer-->
msn.com

The change in the state’s income tax filing deadline won’t apply to estimated tax payments that are due on April 15, which are based on either 100% of estimated or 90% of actual liability for 2021,...

Illinois income tax deadline: Filing extended to May 17 ...

Illinois is following the lead of the Internal Revenue Service and extending the filing deadline for individual income taxes to May 17.. The Illinois Department of Revenue reports of …

An online tax software will calculate your adjusted gross income (AGI) for you.

Illinois is following the lead of the Internal Revenue Service and extending the filing deadline for individual income taxes to May 17. 

The Illinois Department of Revenue reports of 2.4 million people in Illinois have already filed their income taxes for the past year. Seventy-nine percent of those who have already filed are expecting a refund from the state this year. 

April 15 is typically the required deadline for filing individual income taxes. 

"The filing extension for individual income tax takes effect automatically, so no further action is required by taxpayers to take advantage. For taxpayers awaiting a refund, utilize IDOR’s Where’s My Refund? to locate specific information about the status of any refund due,” IDOR director David Harris said in a statement. 

Harris also said the fastest and most secure way to receive a refund on a tax return is to file electronically and request a direct deposit to a bank account.

More:Pritzker paves way for COVID vaccines for all Illinoisans 16 and older starting in April

Estimated tax payments will still be due on April 15.

Last year, over 6.4 million individual income tax returns were filed and 87% filed them online. 

This is the second year in a row the IRS and state have moved the filing deadline back to accommodate complications related to the COVID-19 pandemic. In 2020, the income tax filing deadline was pushed back to July 15. 

July 15 Tax Deadline: 5 Things To Know In Illinois ...

01-07-2020 · July 15 Tax Deadline: 5 Things To Know In Illinois - Across Illinois, IL - After being extended three months because of the coronavirus crisis, the 2019 tax deadline is …

01-07-2020

ILLINOIS — The Treasury Department and the IRS announced Monday that they would not extend the July 15 deadline for Americans, including residents in Illinois to file 2019 income tax returns and pay taxes owed for that year.

The Treasury and IRS previously extended tax filing and payment deadlines from April 15 to July 15 due to the coronavirus pandemic. That applies to both state and federal taxes in Illinois.

The commitment to July 15 comes less than a week after Treasury Secretary Steven Mnuchin said that pushing the deadline back even further was "something we may consider."

"After consulting with various external stakeholders, we have decided to have taxpayers request an extension if more time is needed," Mnuchin said in a news release late Monday. "I would encourage Americans to file their taxes as soon as possible, so those who are due refunds can receive them quickly."

Here are five things to know about filing and paying your taxes by July 15 in Illinois:

  1. You can still receive an extension to file your taxes.

As Mnuchin mentioned on Monday, extensions past the July 15 date are still available for some aspects of your taxes. If you are unable to submit your paperwork by the given deadline, you can get an extension until Oct. 15.

However, this is only an extension to file, not an extension to pay.

The form to apply for an extension to file is available on the IRS website.

  1. Failure to pay or properly file for an extension will result in penalties.

The possibility of penalties means that taking the extension to file your taxes is most likely the smart move, if you don't have your paperwork ready to go by July 15.

The penalty for not filing is 5 percent of the unpaid tax you owe, tallied for each month you're late for up to five months. Additionally, the underpayment penalty is 0.5 percent per month.

The standard deduction is a dollar amount that reduces the amount of income on which you are taxed and varies according to your filing status.

  • Single: ,200 — up from ,000 for 2018.
  • Married filing jointly or qualifying widow: ,400 — up from ,000 for 2018.
  • Married filing separately: ,200 — up from ,000 for 2018.
  • Head of household: ,350 — up from ,000 for 2018.

IRS Commissioner Charles Rettig said in a news release that "the IRS understands that those affected by the coronavirus may not be able to pay their balances in full by July 15, but we have many payment options to help taxpayers."

As part of the IRS' "The People First Initiative," the federal agency is offering a variety of relief options to taxpayers experiencing hardships related to the COVID-19 crisis.

The options include postponing certain payments related to Installment Agreements and Offers in Compromise, to collection and limiting certain enforcement actions.

You can find more information about the "People First Initiative" on the IRS website.

  1. Statistics show that fewer people are filing their taxes in 2020.

The coronavirus pandemic is affecting the number of people filing their tax returns.

According to IRS data, the number of processed tax returns on a year-over-year basis was down 11.4 percent as of June 19. Additionally, the number of refunds was down 10.8 percent.

People preparing for taxes were "stymied because of working from home and not being able to access all of the resources they had while in their offices," Craig Richard, the director of tax services at Fiduciary Trust International, said in an interview with USA Today.

support.taxslayer.com

The filing deadline for 2021 tax returns is April 18, 2022 The payment deadline is also April 18, 2022. Penalties and interest on underpayments will be calculated from that date If you receive a federal extension of more than six months, you are automatically allowed that …

Gov. Pritzker moves Illinois income tax filing deadline as ...

25-03-2020 · The Treasury Department and Internal Revenue Service announced on Saturday that the federal income tax filing due date will be automatically extended from April 15, 2020, to …

25-03-2020

Gov. J.B. Pritzker on Wednesday said he’s heeding the many calls from Illinois residents worried about paying their taxes amid job losses and instability caused by the coronavirus outbreak and will delay next month’s state income tax filing deadline.

Illinois Republicans were also pressuring the Democratic governor for a delay after the federal government pushed back its deadline over the weekend.

“I am proud to announce an important new measure to support our residents and most small businesses, and to soften the immediate economic impact of this moment,” Pritzker said at his Wednesday briefing. “Illinois will delay our tax deadline from April 15 to July 15, aligning our tax day with the federal government’s and giving our millions of taxpayers three additional months to file their individual returns.”

Pritzker’s delay also includes tax payments. About 3.4 million Illinoisans have already filed their tax returns, and the state is still processing refunds for those who file ahead of the new deadline.

The U.S. Treasury Department and Internal Revenue Service announced on Saturday that the federal income tax filing due date will be automatically extended from April 15 to July 15.

Illinois officials also on Wednesday announced the deaths of three more people from the coronavirus. So far, 19 people have died from the outbreak in Illinois.

An additional 330 cases have been added to the state’s total, bringing the Illinois tally to 1,865 cases in 35 counties. Ages of those afflicted range from an infant to 99 years. Those cases include two correctional officers and one man incarcerated at Stateville Correctional Center, as well as a contractual worker at Sheridan Correctional Center. The two correctional officers are in isolation at home, while the inmate is in a hospital, the department said.

Both Stateville and Sheridan have been placed on a 14-day lockdown, with anyone who may have been exposed at Stateville being quarantined, the department said.

The governor also announced three programs for small businesses to access a share of million in state emergency assistance, beginning on Friday. Additionally, Pritzker said he’s reached out to national mortgage companies to ask for a multi-month forbearance. The governor also has reached out to the three national credit bureaus, asking them not to lower residents’ credit ratings during this time.

A small business emergency loan fund will include million in low-interest loans of up to ,000 for small businesses in every industry outside of Chicago. Businesses with less than 50 employees and less than million in revenue last year are eligible, and would owe nothing for six months and then pay fixed payments at 3% interest, the governor’s office said.

Another million program will be used to support small businesses in suburban and rural counties across Illinois, providing grants of up to ,000 to small businesses. And a million grant program will help small hospitality businesses make ends meet, providing up to ,000 to eligible bars and restaurants and up to ,000 for eligible hotels.

Speaking at the daily briefing, Michael Jacobson, president of the Illinois Hotel and Lodging Association, said hotels over the past month were projected to have an occupancy rate of 70%. They’re now in the teens or single digits.

“The damage is worse than the impacts of 9/11 and the 2008 recession combined,” Jacobson said.

But Jacobson encouraged small hotel owners to explore eligibility for relief funds that Pritzker is offering for small businesses. Jacobson said, so far, 20,000 hotel rooms in Illinois are being used for housing healthcare workers, first responders and for hospital overflow.

The White House and U.S. Senate on Wednesday struck a major deal on a trillion package, making it the largest emergency aid package the nation has seen. It includes direct payment to Americans and help with unemployment and to small businesses.

Pritzker — who has been critical of the federal response to coronavirus — said he hopes to see passage of the package as soon as possible.

“My expectation is that people at the federal government level want to do the right thing,” Pritzker said. “We’re continuing to protect the people of the state of Illinois, and I’m going to do whatever it takes, frankly, to get that job done. And sometimes, when I have to be critical in order to get something done, I’m going to be doing that.”

Also on Wednesday. Democratic U.S. Senators Dick Durbin and Tammy Duckworth sent a letter to President Donald Trump to try to bolster Pritzker’s request for a federal disaster declaration in the wake of the coronavirus pandemic.

Illinois has requested assistance for all 102 counties in the state. The federal declaration would give Illinois access to more federal benefits.

Beyond the financial and health impact of the pandemic, Pritzker on Wednesday was asked about the emotional toll the outbreak is taking on his own administration.

A day prior, Dr. Ngozi Ezike, who has appeared next to Pritzker for 17 consecutive daily briefings, became emotional when announcing the latest fatalities — noting that many families can’t mourn their loved ones in a world of social distancing.

”It is hard. I’m a doctor. I’m a mother, and I just buried my father last month,” the Illinois Public Health Department chief responded with tears in her eyes. “And so when I think about people who can’t do what I did for my father last month, I feel it very real, as to what people are going through and the sacrifices they are making.”

Pritzker, himself, said, “We’re all holding up just fine.” He detailed that a close friend and members of the friend’s family all have fevers and symptoms of coronavirus.

”All of us, I think, are aware of how serious this situation is and are touched by somebody, somebody at work, somebody at home, somebody in your life, no doubt, that has contracted this or is affected by it,” Pritzker said. “So I appreciate the concern.”

efile.com

Late Filing Penalty: You will be assessed a penalty of 0 or 2% of the tax owed (whatever is less) per month you file your return after the tax return deadline. The penalty is reduced by timely payments or credits. In the event you file your return on time but the return cannot be processed, you will have 30 days to correct the return before any penalty is due. If you do not file your return within 30 days after you …

Illinois Pushes Back Income Tax Deadline

25-03-2020 · Published March 25, 2020 at 5:28 PM CDT Frankeleon/flickr / Illinois is extending its income tax filing period, days after the federal government did the same. Both Illinois and federal income taxes will have the same deadline – July 15. Governor J.B. Pritzker says it will soften the economic impact of the current COVID-19 crisis.

25-03-2020

Illinois is extending its income tax filing period, days after the federal government did the same. 

Both Illinois and federal income taxes will have the same deadline – July 15.

Governor J.B. Pritzker says it will soften the economic impact of the current COVID-19 crisis. 

“Aligning our tax day with the federal government’s and giving our millions of taxpayers three additional months to file their individual returns,” Pritzker said.  

Those who owe money will get a temporary reprieve, and those who are working long hours in response to pandemic will get extra time to complete their returns.   

Other states, including Missouri, Iowa, Wisconsin and Indiana have taken similar action after the federal change was announced last week.  

While pushing back the deadline might help some filers, it comes at a cost to the state's finances. This time of year typically brings in more money as people pony up, allowing Illinois to pay more outstanding bills.  

Illinois Comptroller Susana Mendoza admitted the filing extension will create cash management challenges. 

“We will continue to make critical payments for debt service, state payrolls, K-12 schools, our social and human service providers and required pension payments,” she said in a news release.  “We will prioritize state payments to our hospitals, doctors and everyday heroes on the front lines fighting COVID-19.”

Still, Mendoza warned that beyond the short-term revenue delay, the current crisis will mean lower payroll and sales tax receipts in the current fiscal year.

“It is too early to measure the financial impact,” said Mendoza.

Federal officials have said those who anticipate a tax refund should file sooner to get their money more quickly. 

As for the state, Pritzker said tax refunds will continue to be paid promptly.

Illinois Pushing Back Income Tax Filing Deadline To May 17 ...

March 19, 2021 / 12:00 PM / CBS Chicago. CHICAGO (CBS) -- Illinois is giving taxpayers extra time to file their income taxes this year, pushing back the filing deadline from April 15 to May 17 ...

chicago

/ CBS Chicago

CHICAGO (CBS) -- Illinois is giving taxpayers extra time to file their income taxes this year, pushing back the filing deadline from April 15 to May 17, mirroring a change by the IRS for filing federal returns.

Gov. JB Pritzker's office announced the change on Thursday, after the Internal Revenue Service announced it was moving the deadline for filing federal income taxes until May 17.

The change in the state's income tax filing deadline won't apply to estimated tax payments that are due on April 15, which are based on either 100% of estimated or 90% of actual liability for 2021, or 100% of actual liabilities for 2019 or 2020.

State officials said the fastest way to receive any tax refund you might be owed is to file your return electronically, and sign up for direct deposit into your bank account.

"The filing extension for individual income tax takes effect automatically, so no further action is required by taxpayers to take advantage. For taxpayers awaiting a refund, utilize IDOR's Where's My Refund? to locate specific information about the status of any refund due," Illinois Department of Revenue Director David Harris said in a statement.

You can file Illinois income tax returns for free at the state's MyTax Illinois website.

Accountants had asked the IRS to push back the federal deadline given the ongoing challenges of the coronavirus pandemic for taxpayers and the IRS, which is still dealing with a backlog of tax returns from last year.

The American Institute of CPAs this week had urged the IRS to delay the filing deadline, citing the impact of the pandemic on U.S. taxpayers as well as the tax agency itself, which is still trying to dig out of a backlog of returns from the last tax filing season. Lawmakers on Wednesday applauded the tax agency for the extension, calling it "absolutely necessary."

"The practitioners have been saying, 'We're here, but there aren't enough hours in the day to get everything done that has been put in front of us,'" said Meredith Tucker, tax principal at accounting firm Kaufman Rossin. "It's tough to think we will be under tax season for another month, but we need more time."

Tax preparers have been assessing changes to the tax code, including last week's

.9 trillion American Rescue Plan, which will impact issues ranging from taxes on unemployment aid to the Child Tax Credit, as well as loans from the Paycheck Protection Program.

The extra time applies to individual taxpayers, including those who pay self-employment taxes, such as sole proprietors and gig-economy workers, the IRS said. It added that individual taxpayers don't need to file any forms or call the IRS to qualify for the May 17 deadline.

Given previous tax seasons, it's likely that half of taxpayers have yet to file their returns, said Curtis Campbell, president of TaxAct. He added that even with the extra breathing room, taxpayers should still plan on getting their returns to the IRS sooner rather than later.

"I would advise folks to still file as soon as they can, especially if they are in need of their tax refund," Campbell said. "The IRS is doing all they can to help deliver quickly for consumers and getting them their latest updated information may help tax filers get their return and potential other future economic payments faster."

First published on March 19, 2021 / 12:00 PM

© 2021 CBS Broadcasting Inc. All Rights Reserved.

charliemeier.net

The filing deadline for Illinois income tax returns has been extended from April 15, 2020, to July 15, 2020. This filing and payment relief includes: The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Illinois income taxes on April 15, 2020, are automatically extended until July 15, 2020.

Federal Tax Deadline Moved; Illinois Deadline Also ...

18-03-2021 · Posted Thu, Mar 18, 2021 at 12:57 pm CT | Updated Thu, Mar 18, 2021 at 6:37 pm CT Replies (16) The IRS has moved the deadline for filing federal income tax …

18-03-2021

ILLINOIS — Illinois residents will once again get some breathing room for filing their federal income tax returns.

The Internal Revenue Service said Wednesday the due date for the 2020 tax year for individuals was being moved by about a month: from April 15 to May 17. The agency said it would provide formal guidance in the coming days.

On Thursday, Gov. J.B. Pritzker announced that the state tax filing deadline has also been extended until May 17.

Here's what else the IRS said taxpayers need to know about the extended deadline:

  • Taxpayers can postpone federal income tax payments that would be due April 15 to May 17 without any penalties or interest regardless of the amount owed
  • The postponement is for individual taxpayers, including those who pay self-employment tax
  • Penalties or interest in unpaid balances will begin to accrue May 17
  • Taxes paid by May 17 will automatically avoid interests and penalties
  • Taxpayers will automatically qualify for this relief and don't need to file any forms

Anyone who needs an extension beyond May 17 can file to request an extension until October 15 but any taxes due would still need to be paid by May 17.

The agency also clarified that the extension doesn't extend to estimated tax payments; the money withheld in paychecks or the estimated tax payments people make if their income isn't withheld automatically.

efile.com

If you do owe taxes, in many cases, you can pay your state taxes online. This payment will serve as extension. Ongoing. IRS Tax Amendment State Tax Amendment(s) You can prepare your amendment on eFile.com for Tax Year 2021, then print, sign, and mail in the forms. There are plans to e-File amendment Form 1040X by mid 2022. State tax amendments follow a similar procedure, but do not use the IRS ...

Illinois 2021 tax deadline extended to match IRS federal ...

19-03-2021 · The Illinois Department of Revenue said 2.4 million people have already filed their state taxes, and more than 79% of taxpayers who have already filed are expecting a refund.

19-03-2021
SPRINGFIELD, Ill. (WLS) -- Illinois has pushed back its state tax filing deadline to May 17, matching the change by the IRS.Governor JB Pritzker announced Thursday the state has extended the individual income tax filing deadline from April 15 to May 17. There is no change to how the state processes taxes filed before the deadline.The extension does not apply to estimated tax payments due on April 15, which are based on either 100% of estimated or 90% of actual liability for 2021, or 100% of actual liabilities for 2019 or 2020.The IRS announced an extension of the federal tax filing deadline to May 17 on Wednesday, saying it would allow more breathing room for taxpayers and the IRS alike to cope with changes brought on by the pandemic. Those who need more time beyond May 17 to complete their federal taxes can request an extension until October 15.

RELATED: IRS will delay tax filing due date until May 17

The decision to extend the deadline comes after an intense year for the chronically underfunded IRS. The pandemic hit in the middle of last year's tax filing season, setting the agency back in terms of processing. The IRS has also been a key player in doling out government relief payments, and is currently helping to send out the third round of payments in the middle of the current tax filing season.Additionally, the extension gives the IRS time to issue guidance on recent tax law changes. The American Rescue Plan excludes the first ,200 of unemployment benefits from federal taxes for those making less than 0,000."Never before has the law changed so substantially in the middle of tax filing season," Patrick Thomas, director of Notre Dame Law School's Tax Clinic, said in a statement.The Illinois Department of Revenue said 2.4 million people have already filed their state taxes, and more than 79% of taxpayers who have already filed are expecting a refund.

The Associated Press contributed to this report.

Report a correction or typo
Illinois taxes deadlines extended due to COVID-19

Illinois is extending the 2019 tax year filing and payment due date for C corporations who file Form IL-1120 from April 15, 2020 to July 15, 2020. Illinois is not extending the filing or payment due dates for tax year 2019 returns for partnerships, including nonresident withholding (Form IL-1065), which still falls on April 15, 2020.

The Illinois Department of Revenue announced in Informational Bulletin FY 2020-24 (“Bulletin 2020-24”) that the tax filing and income tax payment deadlines for 2019 “individual returns, trusts, and corporations” were being automatically extended from April 15, 2020 to July 15, 2020. 

The department has not yet formally confirmed whether the July 15, 2020 deadline for filing and paying tax also applies to either replacement tax or pass-through withholding tax, given that the language of Bulletin 2020-24 refers exclusively to “income tax” payments.  However, in response to questions from practitioners, the department has informally made the following clarifications:

  • Illinois is extending the 2019 tax year filing and payment due date for C corporations who file Form IL-1120 from April 15, 2020 to July 15, 2020.
  • Illinois is not extending the filing or payment due dates for tax year 2019 returns for partnerships, including nonresident withholding (Form IL-1065), which still falls on April 15, 2020.
  • Illinois is not extending the due date of an already extended income tax return tax return and payment for fiscal year taxpayers whose extended due date would otherwise be April 15, 2020 must still file and pay on that date).

Illinois’ 2020 quarterly estimated tax payment

Bulletin 2020-24 explains that its’ relief “does NOT impact the first and second installments of estimated payments for 2020 taxes that are due April 15 and June 15.”

On April 2, 2020 Illinois published Informational Bulletin FY 2020-26 (“Bulletin 2020-26”) to explain the relief that Illinois would provide.

In Bulletin 2020-26, Illinois authorized taxpayers to base their 2020 estimated tax payments upon 100% of the taxpayers’ estimated 2020 liability or 100% of their actual 2018 or 2019 liability. 

In addition, taxpayers who timely pay in four equal installments  will avoid late payment penalties if they base their installments upon the lesser of (1) 90% of their 2020 estimated liability or (2) 100% of their actual 2018 or 2019 liability.

  • Calculating 2020 quarterly estimates based on 100% of 2018 liability for taxpayers who have not filed for 2019

According to Bulletin 2020-26, individuals who want to compute their 2020 estimated tax payments using 100% of their 2018 liability should use Form IL-1040-ES and base their 2020 estimated tax on the amount of tax they owed on 2018 Form IL-1040.

Businesses who want to compute their 2020 estimated tax payments using 100% of their 2018 liability should use the Form IL-1120 instructions, Appendix B, or IL-990-T instructions, Appendix A, to calculate their estimated payment amount and base their 2020 estimated tax on the amount of tax they owed on their 2018 return.

Taxpayers who wish to base their 2020 Illinois quarterly estimates upon 100% of their 2018 or 2019 liability should keep in mind that their expected 2020 payroll tax withholdings should be netted against their gross tax liability in order to compute the quarterly estimates.

  • Applying 2019 overpayments towards 2020 quarterly estimated taxes

Many Illinois taxpayers and practitioners have asked whether they could defer payment of their Illinois 2020 Q1 or Q2 estimates until July 15 by overpaying their Illinois extension payment on July 15, 2020, and retroactively applying that overpayment back to the April 15 and June 15 estimates in a way that would cause those estimates to have been timely paid. According to Bulletin 2020-26, however, overpayments shown on a 2019 return filed on July 15, 2020 will not be considered timely applied to a taxpayer’s 2020 Q1 or Q2 estimates to the extent the overpayment was comprised of payments received after April 15, 2020.

What’s next

Illinois is one of a minority of states who that has not followed the IRS’ approach of extending the due date of 2020 Q1 estimates to July 15, 2020.  In addition, its’ guidance regarding allowances for computing 2020 quarterly estimates was published less than two weeks before the due date of Illinois’ Q1 2020 estimate.  Even though this combination of factors is sure to raise questions, the department is unlikely to significantly clarify these issues prior to April 15. 

With the April 15, 2020 deadline coming up soon for all taxpayers’ 2020 Q1 estimates, as well as for the 2019 returns for partnerships, taxpayers should consult with their Wipfli tax advisor to evaluate the best approach for filing and paying these taxes.

Related content:

taxuni.com

Ali Gray Last Updated: March 19, 2021 The state of Illinois residents is subject to state income taxes. The tax deadline has been extended for the 2021 tax season due to COVID-19. Since thousands of Illinois residents earned their income during 2020 from different sources such as freelancing jobs, unemployment compensation, or similar.

hfchronicle.com

Illinois taxpayers have until Wednesday, July 15, to pay their outstanding 2019 income taxes. The Illinois Department of Revenue (IDOR) is reminding taxpayers of the state individual income tax filing and payment deadline. The traditional April 15 deadline was extended three months by Gov. J.B. Pritzker in response to the COVID-19 pandemic.

Illinois taxpayers have until Wednesday, July 15, to pay their outstanding 2019 income taxes. 

The Illinois Department of Revenue (IDOR) is reminding taxpayers of the state individual income tax filing and payment deadline. The traditional April 15 deadline was extended three months by Gov. J.B. Pritzker in response to the COVID-19 pandemic. 

Both state and federal returns are due on July 15.

“It is time to file your taxes if you have not already done so and we stand ready to assist,” said IDOR Director David Harris. “While the COVID-19 pandemic unfolded, the Department of Revenue worked hard to ensure taxpayer access to services and timely processing of refunds.”  

To date, 5.3 million Illinois taxpayers have filed their 2019 Illinois individual income tax returns, which is approximately 85 percent of expected returns. Of those, 3.3 million taxpayers have received refunds totaling

.4 billion. The fastest way to receive a refund is to file electronically and select the direct deposit option.

Individuals needing support may call IDOR's telephone assistance hotline at 1-800-732-8866. All Illinois taxpayers can file their Form IL-1040 free using the MyTax Illinois website. 

Taxpayers can also use the MyTax portal to check on the status of their refund, make a payment, retrieve their PIN, or look up their estimated/extension payments. Some lower-income taxpayers can also file their federal returns for free through the Internal Revenue Service’s FreeFile program; visit irs.gov for more information.

repcaulkins.com

In light of the recent Disaster Proclamation, the Illinois Department of Revenue (IDOR) is following the federal government in providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for Illinois income tax returns has been extended from April 15, 2020, to July 15 ...

Illinois income tax deadline extended to May 17, following ...

This is the second year in a row the IRS and state have moved the filing deadline back to accommodate complications related to the COVID-19 pandemic. In 2020, the income tax filing deadline was ...

SPRINGFIELD — Illinois is following the lead of the Internal Revenue Service and extending the filing deadline for individual income taxes to May 17.

The Illinois Department of Revenue reports of 2.4 million people in Illinois have already filed their income taxes for the past year. Seventy-nine percent of those who have already filed are expecting a refund from the state this year.

April 15 is typically the required deadline for filing individual income taxes.

"The filing extension for individual income tax takes effect automatically, so no further action is required by taxpayers to take advantage. For taxpayers awaiting a refund, utilize IDOR's Where's My Refund? to locate specific information about the status of any refund due," IDOR director David Harris said in a statement.

Harris also said the fastest and most secure way to receive a refund on a tax return is to file electronically and request a direct deposit to a bank account.

Estimated tax payments will still be due on April 15.

Last year, over 6.4 million individual income tax returns were filed and 87% filed them online.

This is the second year in a row the IRS and state have moved the filing deadline back to accommodate complications related to the COVID-19 pandemic. In 2020, the income tax filing deadline was pushed back to July 15.

Illinois reopening plan: What to know about the latest updates

Pritzker said all Illinois residents 16 and older would be eligible for the vaccine on April 12, ending the state's phased-in priority distribution. 

On that day, all state-supported mass vaccination sites, local health departments, pharmacy partners — every jurisdiction that receives vaccine from the state's allocation — will be instructed to move to widespread eligibility.

Photo by Mary Altaffer, Associated Press

Officials in Chicago might not follow the state's lead on expanded vaccine eligibility April 12. The city gets its own pool of vaccine directly from the federal government and sets its own rules.

Mayor Lori Lightfoot said Wednesday that the city would expand the vaccine pool on March 29 to include people with additional health concerns and people in essential industries such as food service and construction. There's no decision on when the city might open vaccination appointments to all.

Photo by Ashlee Rezin Garcia, Chicago Sun-Times via AP

All of Illinois is currently in Phase 4 of the state's reopening plan.

On Thursday, Pritzker introduced a new “bridge phase” for expanding capacity limits while remaining short of Phase 5, when the state will fully reopen.

This transitional period will start after 70% of residents 65 and over have received at least one dose of the vaccine. Pritzker said the state is now at 58% for that age group.

Photo by Pat Nabong, Chicago Sun-Times via AP

Under the bridge guidelines:

  • Social events could be held with 250 people attending indoors or 500 people outdoors. 
  • Spectator events and theater productions could be held at 60% capacity. 
  • Meetings, conferences and conventions could be held at 60% capacity or 1,000 people, whichever is less. 
  • Zoos, museums and amusement parks could open at 60% capacity, up from the current 25%. 
  • For restaurants, standing areas would change from 25% capacity to 30% capacity indoors and 50% capacity outdoors. In seated areas, customers would still need to be seated 6 feet apart and in groups of 10 or less.
  • Health and fitness facilities, retail stores, offices and personal care businesses would increase from 50% capacity to 60% capacity. 

Click here for a full breakdown of bridge capacity changes. 

Photo by Pat Nabong, Chicago Sun-Times via AP

All local governments, including Chicago, have the option of keeping stricter conditions than the state.

Pritzker said he hoped Chicago would follow the state's guidance on reopening and move quickly to reduce restrictions. 

Photo by Pat Nabong, Chicago Sun-Times via AP

Normal business operations will be reintroduced during Phase 5 of the Restore Illinois plan.

This will begin after half of all residents 16 and older are vaccinated, and if there are no significant setbacks in terms of cases, hospitalizations or deaths after 28 days in the bridge program.

Currently, 28% of all residents 16 and older have had at least one dose of the vaccine, Pritzker said. 

Pritzker would not guess at dates when the transitions might occur. 

Photo by Pat Nabong, Chicago Sun Times via AP

Pritzker said mask requirements will remain in place until the Centers for Disease Control and Prevention recommends lifting them. 

"Masks have been one of our best ways to reduce risk in this pandemic and we won't be foolish in throwing away our best weapon heading into the last lap of this fight," he said.

The Chicago Tribune and Associated Press contributed. 

Photo by Pat Nabong, Chicago Sun-Times via AP

Get local news delivered to your inbox!

natlawreview.com

The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Illinois income taxes on April 15, 2020, have …

scheffelboyle.com

Governor Pritzker announced today, March 25th, that the State of Illinois income tax filing and balance due payment deadline has been extended for 2019 returns to July 15th, 2020.. However, for Illinois, 1st quarter estimates are still due on April 15th, 2020, and 2nd quarter estimates are still due on June 15th, 2020.This decision does not mirror Federal, …

Governor Pritzker announced today, March 25th, that the State of Illinois income tax filing and balance due payment deadline has been extended for 2019 returns to July 15th, 2020.

However, for Illinois, 1st quarter estimates are still due on April 15th, 2020, and 2nd quarter estimates are still due on June 15th, 2020. This decision does not mirror Federal, Missouri, and a number of other states, as Federal and Missouri 1st quarter estimates are not due until July 15th, 2020.

Although the IRS, Illinois, Missouri, and others have extended SOME filing due dates, it’s important to note that you can still file your return, process payment, and/or receive your refund now, if you so wish.

If you have Illinois estimates due April 15th, 2020, we need to either prepare your 2019 return or estimate your 2020 taxable income. Penalties for underpayment of Illinois taxes can be substantial in relation to the tax due. We suggest that you still get your tax information to us as soon as possible.

Our team will continue to monitor this situation and communicate with our clients as regulatory updates are announced. Please reach out to us with any questions you may have. We are always here to help.

To read the official release from the Illinois Department of Revenue, click here.

  • Facebook
  • Twitter
  • LinkedIn
  • Email
  • Print
  • More
chicagotribune.com

18-03-2021 · Illinois residents will now have until May 17 to file their individual state income taxes and to make any payments, Gov. J.B. Pritzker announced Thursday.

18-03-2021
Skip to content

Illinois residents will now have until May 17 to file their individual state income taxes and to make any payments, Gov. J.B. Pritzker announced Thursday.

The announcement comes one day after the Internal Revenue Service’s decision to extend the federal filing due date to the same day, saying it “wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic.”

The state income tax extension does not apply to estimated tax payments that are due April 15, the traditional tax filing deadline.

Illinois Department of Revenue Director David Harris said the fastest way to receive a refund is to file electronically and request a direct deposit.

Gov. J.B. Pritzker speaks at the Thompson Center in Chicago on March 18, 2021.
Gov. J.B. Pritzker speaks at the Thompson Center in Chicago on March 18, 2021. (Jose M. Osorio / Chicago Tribune)

“The filing extension for individual income tax takes effect automatically, so no further action is required by taxpayers to take advantage,” Harris said in a statement. “For taxpayers awaiting a refund, utilize IDOR’s Where’s My Refund? to locate specific information about the status of any refund due.”

[Most read] Salir a vender o morir de hambre en casa, dilema para peruana »

The Illinois Department of Revenue continues to process refunds for those filing prior to the deadline. The department reported 2.4 million people have already filed their returns, 79% of whom are expecting a refund.

Officials from the governor’s office said free filing of Form IL-1040 is available through the MyTax Illinois website, where tax filers can also make payments, respond to department inquiries and look up IL-PINs.

honkamp.com

Illinois has extended the income tax filing and payment deadline to July 15, 2020, to match the federal postponement in light of COVID-19. Important to note: Applies to all individual returns, trusts and corporations No extensions need to be filed, and interest and penalties are waived for the period Penalties and interest begins to accrue

Illinois tax filing deadline should move to July 15 so it ...

24-03-2020 · Illinois should move state tax filing deadline to July 15 so it matches the feds’ With the coronavirus outbreak wreaking havoc, the state deadline should be the same as the federal government ...

24-03-2020

At a time when almost everything in our daily lives has become unexpectedly complicated, Illinois should not keep its income tax deadline set at April 15 now that the federal government has moved back its deadline by 90 days.

U.S. Treasury Secretary Steven Mnuchin said on Friday that the federal government will move the tax deadline to July 15 because of the COVID-19 pandemic. That puts the ball in Illinois’ court to find a way to do the same.

We urge the state to move quickly to resolve this. It’s clearly doable.

Arizona, Connecticut, New York, Pennsylvania and Wisconsin have already changed their deadlines to conform with the federal date. Even before the federal government acted, Maryland had moved its deadline for some business filings to June 1, and California had bumped its tax day back to June 15.

On Sunday, Pritzker said his administration is “working hard to figure out how” to push back the filing date but also needs to figure out how to deal with the changes in its cash flow. Other states, he pointed out, are in the same fix.

We get that the sudden loss of the usual influx of cash in April can leave the state scratching its head about how to pay its bills, including the paychecks for state workers.

But we hope the Pritzker administration is also fully taking into account that no matter what the state decides, the distinction between federal and state filing dates will be lost on many tax filers. To them, tax day is tax day, whether it comes on April 15 or July 15. What’s more, people generally have to calculate their federal taxes before they file with the state, so if they put off wrestling with the IRS’ Form 1040, they will rack up painful and unnecessary late fees.

If Illinois is anything like Wisconsin, about half of all state taxpayers have already filed their returns, so the state won’t lose all of its revenue even if it moves the deadline. Illinois also needs to waive any penalties and interest on 2019 personal income tax payments as part of moving tax day to July 15, just as the feds have done.

Pritzker was right when he said, “We think that’s an important thing for us to evaluate and then do something about.”

But because April 15 is less a month away, the governor also needs to remember it’s important to do something sooner rather than later.

Illinoisans are going through enough. They don’t need another complication in their lives.

Send letters to [email protected].

money.com

The state tax filing and payment deadline has been moved to May 17, 2021. Pennsylvania. The state tax filing and payment deadline has been moved to May 17, 2021. Rhode Island. The state tax filing and payment deadline has been moved to May 17, 2021. South Carolina. The state tax filing and payment deadline has been moved to May 17, 2021. …

Illinois tax deadline extended to July 15

(WSIL) — Governor JB Pritzker is extending Illinois' income tax return deadline to July 15. That matches the extension announced last week by …

(WSIL) — Governor JB Pritzker is extending Illinois' income tax return deadline to July 15. That matches the extension announced last week by the federal government.

Originally, residents and businesses had to have their returns filed by April 15.

Gov. Pritzker, along with President Trump, says the current COVID-19 pandemic is creating hardships, which is why the extension is needed.

"I applaud the Governor for recognizing that many Illinois residents are facing serious economic hardships during this time and taking action to extend the state's income tax deadline to provide a small measure of relief to Illinois taxpayers," said State Sen. Dale Fowler of Harrisburg.

“Postponing the state tax filing deadline will be a challenge to the state and our office’s cash-management duties, but it is a responsibility we are prepared to meet. Over the last three years, the Illinois Office of Comptroller has proven itself to be well-experienced in managing fiscal crises, and we are prepared for the demanding times ahead," added Illinois State Comptroller Susana Mendoza.

The governor's office says the Illinois Department of Revenue (IDOR) will continue to process tax refunds for those filing ahead of the new deadline.

According to IDOR, 3.4 million Illinoisans have already filed their income taxes.

  • Follow WSIL's full Coronavirus coverage HERE
  • Latest closures and cancellations HERE
  • Sign up for COVID-19 updates HERE
Payment Deadline Extended to July 15, 2020 - IRS tax forms

The filing deadline for tax returns has been extended from April 15 to July 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can't file by the July 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request an extension to file their return.

March 21, 2020

The Treasury Department and the Internal Revenue Service are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns has been extended from April 15 to July 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can't file by the July 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request an extension to file their return.

This filing and payment relief includes:

The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Federal income taxes on April 15, 2020, are automatically extended until July 15, 2020. This relief applies to all individual returns, trusts, and corporations. This relief is automatic, taxpayers do not need to file any additional forms or call the IRS to qualify.

This relief also includes estimated tax payments for tax year 2020 that are due on April 15, 2020.

Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020. You will automatically avoid interest and penalties on the taxes paid by July 15.

Individual taxpayers who need additional time to file beyond the July 15 deadline can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Businesses who need additional time must file Form 7004.

State tax returns

This relief only applies to federal income returns and tax (including tax on self-employment income) payments otherwise due April 15, 2020, not state tax payments or deposits or payments of any other type of federal tax. Taxpayers also will need to file income tax returns in 42 states plus the District of Columbia. State filing and payment deadlines vary and are not always the same as the federal filing deadline. The IRS urges taxpayers to check with their state tax agencies for those details. More information is available at https://www.taxadmin.org/state-tax-agencies.

Page Last Reviewed or Updated: 23-Nov-2021

irs.gov

Form 4868 2020 Application for Automatic Extension of Time To File U.S. Individual Income Tax Return Department of the Treasury Internal Revenue Service (99) Go to www.irs.gov/Form4868 for the latest information. OMB No. 1545-0074. There are three ways to request an automatic extension of time to file a U.S. individual income tax return. 1.

mondaq.com

Illinois also modified the rules regarding the treatment of a 2019 overpayment applied to 2020 estimated taxes. The 2020 estimated tax period that the overpayment can be applied to will depend on when it was originally received. If the overpayment is the result of 2019 tax payments received on or before April 15, 2020, it will be applied ...

63p.com

Workers without a qualifying child could be eligible for a smaller credit up to 8. Return due dates are not extended. State officials announced late last week the Illinois is extending the …

IRS extends filing and payment deadlines for tax year 2020 ...

18-03-2021 · Tax professionals should know that the U.S. Treasury Department and IRS have extended the federal income tax year 2020 filing due date for individuals from April 15, 2021, to May 17, 2021. Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest, regardless of the amount owed.

18-03-2021

Tax professionals should know that the U.S. Treasury Department and IRS have extended the federal income tax year 2020 filing due date for individuals from April 15, 2021, to May 17, 2021.

Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest, regardless of the amount owed. This postponement applies to individual taxpayers, including individuals who pay self-employment tax. Penalties, interest, and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021. Individual taxpayers will automatically avoid interest and penalties on the taxes paid by May 17.

Individual taxpayers do not need to file any forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file beyond the May 17 deadline can request a filing extension until Oct. 15 by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. Filing Form 4868 gives taxpayers until Oct. 15 to file their 2020 tax return but does not grant an extension of time to pay taxes due. Taxpayers should pay their federal income tax due by May 17, 2021, to avoid interest and penalties.

In addition, the IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds associated with e-filed returns are issued within 21 days.

This relief does not apply to estimated tax payments that are due on April 15, 2021. These payments are still due on April 15. Taxes must be paid as taxpayers earn or receive income during the year, either through withholding or estimated tax payments. In general, estimated tax payments are made quarterly to the IRS by people whose income isn’t subject to income tax withholding, including self-employment income, interest, dividends, alimony or rental income. Most taxpayers automatically have their taxes withheld from their paychecks and submitted to the IRS by their employer.

State tax returns

The federal tax filing deadline postponement to May 17, 2021, only applies to individual federal income returns and tax (including tax on self-employment income) payments otherwise due April 15, 2021, not state tax payments or deposits or payments of any other type of federal tax. Taxpayers also will need to file income tax returns in 42 states, plus the District of Columbia. State filing and payment deadlines vary and are not always the same as the federal filing deadline. The IRS urges taxpayers to check with their state tax agencies for those details. In addition, click here to see the complete list of state deadlines below.

Winter storm disaster relief for Louisiana, Oklahoma, and Texas

Earlier this year, following the disaster declarations issued by the Federal Emergency Management Agency, the IRS announced relief for victims of the February winter storms in Texas, Oklahoma and Louisiana. These states have until June 15, 2021, to file various individual and business tax returns and make tax payments. This extension to May 17 does not affect the June deadline.

State Tax Deadline Updates (Last Update: 3/23/21)

Many state tax deadlines will likely also change to May 17th. Get the latest on tax deadlines and guidance for your state below.

Alabama – May 17

Alabama has announced that the tax filing deadline for individual returns will be May 17, 2021. The state will waive late-payment penalties for payments made by May 17th. However, interest will accrue on any payments paid after April 15, 2021. This extension does not apply to estimated tax payments due on April 15, 2021.

Arizona

As of today, there have been no changes to the 2020 AZ state tax deadlines. We will continue to keep you updated. Please check back here later for more details.

Arkansas – May 17 

Arkansas will follow the federal deadline for filing and payment for individuals until May 17, 2021. This deadline does not apply to estimated payments or business returns.

California – May 17

California has extended the state filing and payment deadline for individuals to May 17, 2021. This extension does not apply to estimated tax payments due on April 15, 2021 or business tax returns.

Colorado – May 17

Colorado has extended its individual state income tax payment and filing deadline to May 17, 2021. Individuals will have the option to pay any 2020 income tax payments by May 17, 2021 without penalty or interest. This extension does not apply to estimated payments for the 2021 income tax year due for individuals and corporations on April 15, 2021.  This extension does not apply to business tax returns.

Connecticut – May 17

Connecticut has extended the filing and payment deadline for Connecticut individual income tax returns to Monday, May 17th, 2021. This extension does not apply to estimated tax payments or business tax returns.

Delaware – May 17

Delaware has extended the filing and payment deadline for Delaware individual income tax returns to May 17, 2021. This extension does not apply to estimated tax payments or business tax returns.

Georgia – May 17 

Georgia has announced that they have extended the individual filing and payment deadline for the tax year 2020. This extension only applies to the 2020 tax year  individual state income tax payments and state individual income tax returns. This extension does not apply to state estimated tax payments due on April 15, 2021. These estimated tax payments are still due on April 15th. No extension has been provided for any other type of state tax (including employee withholding, sales tax, and business tax returns).

Hawaii 

As of today, there have been no changes to the 2020 HI state tax deadlines. We will continue to keep you updated. Please check back here later for more details.

Idaho 

As of today, there have been no changes to the 2020 ID state tax deadlines. We will continue to keep you updated. Please check back here later for more details.

Illinois – May 17 

Illinois has extended the individual income tax filing and payment deadline to May 17, 2021. The filing extension does not apply to estimated tax payments that are due on April 15, 2021. This extension does not apply to business tax returns.

Indiana – May 17 

Indiana has extended the deadline for individual income tax filing and payments to May 17, 2021. All other tax return filings and payment due dates remain unchanged.

Iowa

As of today, there have been no changes to the 2020 IA state tax deadlines. We will continue to keep you updated. Please check back here later for more details.

Kansas – May 17 

Kansas has announced that Kansas 2020 individual income tax, fiduciary income tax, and Homestead or Property tax relief refund claim filings are extended to May 17, 2021. This extension does not apply to estimated tax payments or business tax returns.

Kentucky – May 17

Kentucky has extended the deadline for individual income tax filing and payments to May 17, 2021. Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021. This extension only applies to individual taxpayers and does not apply to estimated tax payments or business returns.

Louisiana – June 15

The Louisiana state tax deadline has been extended to June 15. This extended due date is for individual income, corporation income and franchise, fiduciary income, partnership and partnership composite tax returns and payments with original or extended due dates on or after February 11, 2021 and before June 14, 2021. For excise, sales, severance and withholding tax returns and payments due on or after February 11, 2021 and on or before February 28, 2021 have a due date of March 31, 2021. The IRS has extended the federal tax deadline for Louisiana residents to June 15 due to the severe winter storms.

Maine – May 17 

Maine has moved the deadline for Maine individual income tax return and individual tax payments to May 17, 2021. This extension does not apply to corporate tax returns and payments and does not apply to individual and corporate estimated tax payments. These estimated payments will remain due on April 15, 2021.

Maryland  – July 15

The new tax deadline for Maryland state residents is now July 15, 2021. The extension applies to 2020 individual, corporate, pass-through entity, and fiduciary tax returns. It also includes 1st and 2nd quarter estimated payments that are typically due one April 15, 2021 and 2nd quarter estimated payments that are typically due on June 15, 2021 now have a deadline of July 15, 2021.

Massachusetts – May 17 

Massachusetts has determined that individual personal income tax returns and payments for the 2020 tax year otherwise due on April 15, 2021 will now be due on May 17, 2021. This extension does not apply to estimated tax payments or business tax returns.

Michigan – May 17 

Michigan has announced an extension for individual and composite state income tax returns and payments will be due on May 17, 2021. This extension is limited to the state individual and composite income tax annual return and does not apply to fiduciary return or corporate tax returns. This extension does not apply to first quarter estimated payments and payments due on April 15,  2021 will remain at that due date. This extension also does not apply to city income taxes. City income tax taxpayers should contact their respective tax administrators for information regarding their city income tax.

Minnesota – May 17

Minnesota is allowing additional time for making 2020 state individual tax filings and payments until May 17, 2021 without any penalty and interest being applied. This grace period does not include individual estimated tax payments. This extension does not apply to business tax returns.

Mississippi – May 17 

Mississippi will follow the federal extension to file the 2020 individual income tax returns to May 17, 2021. This extension only applies to the filing of individual income tax returns and payment of tax due. There will be no penalty and interest accrued on returns filed and payments made on or before May 17, 2021. This extension does not apply to quarterly estimated payments and payments due on April 15, 2021 will remain at that due date.

Missouri – May 17 

Missouri has announced the extension of their state individual tax filing and payment deadline for 2020 tax year to May 17, 2021. This extension applies to individual taxpayers including those who pay self-employment tax. However, the extension does not apply to estimated tax payments due on April 15, 2021 and that deadline has not changed. This extension does not apply to business tax returns.

Montana – May 17

Montana has announced that the deadline to file 2020 Montana individual income tax returns is May 17, 2021. Montana taxpayers who file by May 17 will not have to worry about interest or penalties. This extension does not apply to quarterly estimated payments.

Nebraska – May 17

Nebraska has extended the deadline for individual income tax returns. This extension for filing and postponement of payment does not include estimated payments or business tax returns.

New Hampshire 

As of today, there have been no changes to the 2020 NH state tax deadlines. We will continue to keep you updated. Please check back here later for more details

New Jersey – May 17 

New Jersey has extended the 2020 income tax filing and due date for individuals to May 17, 2021. This extension includes any tax payments due with a return. This extension does not include first quarter estimated payments, which are still due by April 15, 2021.

New Mexico – May 17

New Mexico has extended the deadline for filing and paying 2020 New Mexico Personal Income taxes to May 17, 2021. This extension does not apply to business tax returns or estimated payments.

New York – May 17 

New York State has extended the due date for personal income tax returns and related payments for the 2020 tax year to May 17,2021. This extension is limited to personal income tax returns for individuals only. The deadline for payment or deposit of any other type of state tax or filing of any other state information return remain unchanged. This extension does not apply to estimated tax payments for the 2021 tax year that are due on April 15, 2021 still are due on April 15, 2021. This extension does not apply to business tax returns.

North Carolina – May 17

North Carolina has extended the time for filing North Carolin individual income tax to May 17, 2021. The state will not charge penalties for those filing and paying their taxes by May 17, 2021. However, tax payments received after April 15 will be charged interest accruing from April 15 until the date of payment. This extension does not apply to trust taxes, sales and use, or withholdings taxes or estimated payments due on April 15, 2021. This extension also does not apply to business tax returns.

North Dakota – May 17 

The deadline for North Dakota individual tax return filing and payments has been extended to May 17, 2021 without penalty and interest. This extension does not apply to estimated tax payments due on April 15, 2021. This extension also does not apply to business tax returns.

New Hampshire 

As of today, there have been no changes to the 2020 NH state tax deadlines. We will continue to keep you updated. Please check back here later for more details

Ohio 

As of today, there have been no changes to the 2020 OH state tax deadlines. We will continue to keep you updated. Please check back here later for more details.

Oklahoma – June 15 (Individual and Business Payments deadline)

The individual and business payments tax deadline for Oklahoma has been extended to June 15 to provide relief to those affected by the severe winter storms. This includes first quarter estimated tax payments.

The IRS has extended the federal tax deadline for Oklahoma residents to June 15 due to the severe winter storms.

Oregon – May 17 

Oregon will follow the IRS and extended the tax filing and payment deadline for individuals to May 17. This extension does not apply to estimated tax payments or business returns.

Pennsylvania – May 17 

Pennsylvania has extended the deadline for individual income tax return filings and payments to May 17, 2021. This extension does not apply to estimated tax payments due on April 15, 2021. This extension does not apply to business returns.

Rhode Island – May 17 

Rhode Island has postponed its deadline for individuals to file their Rhode Island personal income tax returns and make related payments for the 2020 tax year to May 17, 2021. This extension does not apply to estimated payments or business tax returns.

South Carolina – May 17 

South Carolina has extended the deadline for individual income tax return filings and payments for the 2020 tax year to May 17, 2021. This extension is only for individual tax returns and does not apply to estimated tax payments due April 15, 2021.

Tennessee – May 17 

Tennessee has announced the extension for filing and payment for individual income tax returns to May 17, 2021. This extension applies for all taxpayers that file individual income tax. For franchise and excise tax, the extension only applies to individuals who file a Tennessee franchise and excise tax return using a Schedule J2 – Computation of Net Earnings for a Single Member LLC Filing as an Individual. This extension does not apply to estimated payments due April 15, 2021. These estimated payments are still due on April 15.

Texas – June 15 (franchise tax deadline)

Texas has extended the franchise tax deadline from May 15 to June 15, to provide relief to those affected by the severe winter storms. This is in line with the federal extension for Texas residents.

Texas does not have individual state taxes.

Utah – May 17 

The due date for Utah individual income tax for tax year 2020 is May 17th. The extension of the individual filing due date has the effect of also postponing the payment due date to May 17th. Interest and penalties will not accrue if payment requirements are met by this new due date. This extension does not apply to estimated tax payments and business tax returns.

Vermont – May 17 

Vermont has extended the deadline for taxpayers to file their 2020 personal income tax return and pay any tax owed to May 17, 2021 without any penalties or interest. This extension also applies to Homestead Declarations and Property Tax Credit Claims allowing taxpayers to file these with their personal income tax return by May 17 without penalty or interest. This extension does not apply to any estimated payments due on April 15, 2021. This extension also does not apply to business tax returns.

Virginia – May 17 

Virginia has extended the state filing and payment deadline for individuals to May 17, 2021. THis extension does not apply to estimated tax payments or business tax returns.

Washington D.C. – May 17

The District of Columbia has extended the state filing and payment deadline for individuals to May 17, 2021. Business returns for corporate, unincorporated business tax, fiduciary and partnerships returns and payments are extended to May 17, 2021. This extension does not apply to estimated tax payments and the first quarter payments are due April 15, 2021.

West Virginia – May 17 

West Virginia extended the state filing and payment deadline for individuals to May 17, 2021. This extension does not apply to estimated tax payments or business tax returns.

Wisconsin – May 17 

Wisconsin has extended the individual income tax return filing and payment deadline to May 17, 2021. This extension does not apply to 2021 estimated tax payments for individuals due April 15, 2021 and does not apply to any other return or tax payments due.

Keep visiting the Intuit® Tax Pro Center for the latest updates on IRS updates and  Tax Law & News.

Related

salestaxhandbook.com

January 20. January 20 1. Simplify Illinois sales tax compliance! We provide sales tax rate databases for businesses who manage their own sales taxes, and can also connect you with firms that can completely automate the sales tax calculation and filing process. Click here to get more information.

Illinois Tax - H&R Block

02-03-2020 · Illinois income tax is levied by the state on the income you earn within a tax year in Illinois or income earned while you are a resident of Illinois. State income taxes vary by state and are a percentage of money that you pay to the state government. Similar to federal taxes, it …

02-03-2020

Illinois income tax is levied by the state on the income you earn within a tax year in Illinois or income earned while you are a resident of Illinois. State income taxes vary by state and are a percentage of money that you pay to the state government. Similar to federal taxes, it is self-assessed.

The state of Illinois imposes a state level income tax. Read on to learn more about Illinois tax details, like Illinois income tax due dates, rates, and more.

Who Pays Illinois Tax?

Illinois state taxIf you earn an income or live in Illinois, you must pay Illinois income taxes. As a traditional W-2 employee, your Illinois taxes will be withheld and deposited from each paycheck automatically. You will see this on your paycheck, near or next to the federal taxes.

If you work remotely, you should pay taxes to the state in which the work is performed. Employers will generally also pay taxes on wages paid to these workers to the same state, even if the employer has no physical presence in that state. However, some states may require that workers are taxed based on their employer’s location.

How Do You Pay Illinois State Taxes?

To pay Illinois state taxes, visit the Illinois revenue website.

How Much Should You Pay in Illinois State Tax?

The Illinois state tax rate for individuals is 4.95% of net income. To determine the tax due for tax years ending on or after July 1, 2017, refer to Informational Bulletin FY 2018-02.

When are Illinois Tax Returns Due?

The state tax deadlines often coincide with the federal tax deadline, which typically is on April 15, unless it falls on a weekend or deemed otherwise by the IRS. View the IL tax return due date details.

How Do You Check If You Paid IL Taxes?

If you want to make sure your state taxes were paid, contact the Illinois Department of Revenue to see if your payment was received.

Deducting Illinois Income Taxes

If you pay Illinois income tax, the IRS allows you to claim a deduction on your federal tax return for them. You can claim a state income tax deduction if you itemize deductions on your federal return.

To determine if you should itemize your deductions, add up your calendar-year deductible expenses, including your state income tax expense, to see if the total is greater than the standard deduction amount for your filing status. If you are single you can claim a standard deduction of ,200. So, if you pay more than ,200 in state income taxes and other itemized deductions, then consider itemizing your taxes.

Due to the Tax Cuts and Jobs Act, state and local tax deductions, including state income taxes, are limited to ,000 per year.

More Help with IL Tax

Understanding your tax obligation and potential federal deductions you can take. What’s even more time-intensive is how to deduct IL tax from your federal taxes as an itemized deduction.

So, get help with H&R Block Virtual! With this service, we’ll match you with a tax pro with Illinois tax expertise. Then, you will upload your tax documents, and our tax pros will do the rest! We can help with your IL taxes, including federal deductions for paying state taxes.

Prefer a different way to file? No problem – you can find Illinois state tax expertise with all of our ways to file taxes.

IRS will delay tax filing due date until May 17

18-03-2021 · Mar 17, 2021 at 7:35 PM Americans will be getting extra time to prepare their taxes. The Internal Revenue Service says it’s delaying the traditional tax filing deadline from April 15 until May 17....

18-03-2021
Skip to content

Americans will be getting extra time to prepare their taxes. The Internal Revenue Service says it’s delaying the traditional tax filing deadline from April 15 until May 17.

The IRS announced the decision Wednesday and said it would provide further guidance in the coming days. The move provides more breathing room for taxpayers and the IRS alike to cope with changes brought on by the pandemic.

“The IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities,” IRS Commissioner Chuck Rettig said in a statement.

The decision postpones when individual taxpayers must file their return and when their payment is due. The IRS said taxpayers who owe money would not face any further penalties or interest if they pay by May 17. The new deadline also applies to individuals who pay self-employment tax.

Taxpayers do not need to take any action to take advantage of the new deadline. Those who need more time beyond May 17 can request an extension until October 15.

[Most read] Ask Amy: Grandparents’ choice to joy-ride is not safe »

The new deadline does not apply to estimated tax payments that are due on April 15; those remain due by that day.

The decision to extend the deadline comes after an intense year for the chronically underfunded IRS. The pandemic hit in the middle of last year’s tax filing season, setting the agency back in terms of processing. The IRS has also been a key player in doling out government relief payments, and is currently helping to send out the third round of payments in the middle of the current tax filing season.

Additionally, the extension gives the IRS time to issue guidance on recent tax law changes. The American Rescue Plan excludes the first ,200 of unemployment benefits from federal taxes for those making less than 0,000.

“Never before has the law changed so substantially in the middle of tax filing season,” Patrick Thomas, director of Notre Dame Law School’s Tax Clinic, said in a statement.

The IRS must issue guidance for taxpayers and tax preparers alike as millions of returns already filed likely do not account for this change.

[Most read] Daily horoscope for April 10, 2022 »

A number of lawmakers and professionals from the tax community have urged the tax filing season be extended to accommodate for these pressures. The House Ways and Means Committee applauded the move.

“This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis,” said Chairman Richard Neal, D-Mass. and Rep. Bill Pascrell Jr., D-N.J., chairman of the panel’s oversight subcommittee.

Rettig is expected to speak to the committee tomorrow about how the IRS is managing this filing season and the need for this extension.

The IRS continues to urge people to file as soon as possible, particularly those who are owed refunds. In some cases filing will help taxpayers more quickly get any remaining relief payments they are entitled to.

AP Economics Writer Martin Crutsinger contributed to this report from Washington.

michigan.gov

State and City Income Tax Deadline Change. On March 27, Gov. Gretchen Whitmer signed. Executive Order 2020-26, which pushes all April 2020 state and city income …

ILLINOIS STATE TAX TABLES - Illinois state withholding 2020

Additional Allowance =

,000 x Number of Additional Exemptions. Multiply the taxable income computed in step 4 times 4.95 percent to determine the amount of Illinois tax withholding. Divide the annual Illinois tax withholding by 26 to obtain the biweekly Illinois tax withholding.

1. Find your income exemptions 2. Find your pretax deductions, including 401K, flexible account contributions ... 3. Find your gross income 4. Check the 2020 Illinois state tax rate and the rules to calculate state income tax 5. Calculate your state income tax step by step

6. If you want to simplify payroll tax calculations, you can download ezPaycheck payroll software, which can calculate federal tax, state tax, Medicare tax, Social Security Tax and other taxes for you automatically. You can try it free for 30 days, with no obligation and no credt card needed.

Learn more about the icon_computer.jpgin house payroll tax solution for Illinois small businesses here.


payroll software ezPaycheck: Small Business Payroll Solution

Illinois State Tax Tables


Print QuickBooks Checks on Blank Stock For QB Online, 2022 & Previous Versions Save Time and Cut Cost

Try QB Virtual Printer Now


State Abbreviation:

IL

State Tax Withholding State Code:

17

Acceptable Exemption Form:

IL-W-4

Basis For Withholding:

State Exemptions

Acceptable Exemption Data:

0 / Number of Regular Allowances / Number of Additional Exemptions

TSP Deferred:

Yes

Special Coding:

Determine the Total Number Of Allowances field as follows:
First Position - Enter 0 (zero).
Second and Third Positions - Enter the number of exemptions claimed.
Determine the Additional Exemptions Claimed field as follows:
First and Second Positions - Enter the number of additional allowances claimed on Line 2 of the IL-W-4. Valid values are 00 through 99. If no allowances are claimed, enter 00.

Additional Information:

None


  1. Subtract the biweekly Thrift Savings Plan contribution from the gross biweekly wages.
  2. Multiply the adjusted gross biweekly wages times 26 to obtain the annual wages.

  3. Determine the exemption allowance by applying the following guideline and subtract this amount from the annual wages.

    Exemption Allowance = ,275 x Number of Exemptions
  4. Determine the additional allowance by applying the following guideline and subtract this amount from step 3 to compute the taxable income.

    Additional Allowance =

    ,000 x Number of Additional Exemptions
  5. Multiply the taxable income computed in step 4 times 4.95 percent to determine the amount of Illinois tax withholding.
  6. Divide the annual Illinois tax withholding by 26 to obtain the biweekly Illinois tax withholding.

More Payroll Information for Illinois Small Business

What is the cost of using ezPaycheck payroll softwareQuick Start Guide for New Payroll Software CustomersHow to start payroll in mid-yearHow to handle tips in restaurantsHow to handle the local taxesHow to print paycheck on blank stockHow to add a customized deduction and withhold it automaticallyHow to set up payroll tax options for church and non-profitsHow to handle paychecks for both employees and contractorsHow to file tax formsHow to enter the paychecks for after the fact payroll