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Screen ILPmtC - Illinois Payments and Extension (1120)

Payments

Enter any prior-year overpayment in this field. The application transfers this amount to Page 3 of the return and treats it as a first-quarter payment for the purposes of calculating Form IL-2220. Don’t include this amount again in the 1st payment field.
Enter the total of all estimate payments made for the tax year in the
Total, or
 field. The application transfers this amount to Page 1 and applies it equally to all quarters for the purposes of calculating Form IL-2220. To override the way the application applies the total to all quarters, enter actual amounts of estimated tax paid in the 1st payment through 5th payment fields. Once the amounts are entered in any of the individual payment fields, the application ignores the value in the
Total, or
 field when calculating Page 1 of the return and Form IL-2220.
The first 4 fields in the
Date paid
 column default to the respective quarters’ due dates and the 5th payment date defaults to the fourth-quarter date.
Date paid
 for extensions defaults to the extension due date and is only used on the IL-2220. If the payments were not made on the estimate or extension due dates, enter the actual dates of payment in the fields given.
The application proformas the estimated payments calculated in the prior year application to the Calculated amount fields. Enter
X
 to transfer amounts from the Calculated amount fields to the Amount paid fields.
Each time you print the extension (via the
File
, then
Print Extensions
), the application:
  • calculates the extension payment amount and enters it in this field,
  • prints this amount on Form IL-1120-V.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The application then displays the new amount in black.

Extension

If you have printed an extension by selecting
File
, then
Print Extensions
, the extended due date appears in this field. Otherwise, enter the date to be used as the extended due date in the calculation of late-filing penalties and in the filing instructions. If this field is blank, it's assumed that the return was not put on extension.
If an amount is entered in this field, the application calculates the amount of total tax using the estimated payments entered, completes the Extended due date field, and enters the amount in the Payments section.
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