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Illinois Department of Revenue IL-505-I Automatic Extension Payment for Individuals Filing Form IL-1040 What is the purpose of Form IL-505-I When should I le and pay The purpose of Form IL-505-I Automatic Extension Payment is to provide taxpayers who are unable to le their tax return by the due date a means of calculating and remitting their tentative tax liability on or before the original due date of the return see When should I le and pay. You are not required to le Form IL-505-I in order...
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What is il 505 i?
The il 505 i is an Illinois Department of Revenue form used to report underpayment of estimated tax for individuals.
Who is required to file il 505 i?
Individuals who have made estimated tax payments and need to report underpayment must file il 505 i.
How to fill out il 505 i?
To fill out il 505 i, you will need to provide information about your estimated tax payments and calculate any underpayment. The form can be downloaded from the Illinois Department of Revenue website.
What is the purpose of il 505 i?
The purpose of il 505 i is to report underpayment of estimated tax and calculate any penalties or interest owed to the Illinois Department of Revenue.
What information must be reported on il 505 i?
On il 505 i, you must report your total estimated tax payments, the dates and amounts of each payment, and calculate any underpayment.
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