Get the free IL-2210 - tax illinois

This form is used to compute penalties for individuals who fail to pay sufficient estimated tax installments or have unpaid tax, specifically for the Illinois state income tax.

How to fill out il-2210 - tax illinois

How to fill out IL-2210

1. Obtain Form IL-2210 from the Illinois Department of Revenue website.
2. Fill in your name and address at the top of the form.
3. Enter your Social Security number or Individual Taxpayer Identification Number in the designated field.
4. Indicate your filing status for the year (e.g., single, married filing jointly).
5. Compute your total income for the year as per the instructions.
6. Calculate your tax liability for the year using the tax tables or rate schedules provided.
7. Determine if you owe any estimated tax and if you are required to submit IL-2210.
8. Complete any necessary sections related to the penalties for underpayment of estimated tax.
9. Review your calculations for accuracy.
10. Sign and date the form before submission.

Who needs IL-2210?

1. Individuals who owe estimated tax because they did not pay enough tax throughout the year.
2. Taxpayers who wish to determine if they qualify for a penalty waiver due to special circumstances.
3. Those who need to calculate and report any underpayment penalties for their Illinois income taxes.

People Also Ask about

How to avoid 2210 penalty?

If your current year total tax minus the amount of tax you paid through withholding is less than $1,000, you are not required to pay the underpayment penalty and do not need to complete Form 2210.

Who is exempt from underpayment penalty?

The underpayment penalty may also be waived for several other reasons, including: The taxpayer was a U.S. citizen or resident for the preceding tax year and did not owe any taxes for that year. The taxpayer missed a required payment because of a casualty event, disaster, or other unusual circumstance.

What is Illinois Form 2210?

For 2025, continue to follow subsequent tax filing deadlines based on the previous year's payments. The IL-2210 form is designed to help taxpayers assess any penalties they may owe for underpayment of estimated taxes.

What is Form 2210 used for?

Purpose of Form Use Form 2210 to see if you owe a penalty for underpaying your estimated tax. The IRS will generally figure your penalty for you and you should not file Form 2210. You can, however, use Form 2210 to figure your penalty if you wish to include the penalty on your return.

How do I get out of tax underpayment penalty?

Generally, most taxpayers will avoid this penalty if they either owe less than $1,000 in tax after subtracting their withholding and refundable credits, or if they paid withholding and estimated tax of at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is

How much is the Illinois underpayment penalty?

The amount of penalty imposed under this paragraph (2) shall be 2% of any amount that is paid no later than 30 days after the due date, 10% of any amount that is paid later than 30 days after the due date and prior to the date the Department has initiated an audit or investigation of the taxpayer, and 20% of any amount

How do I avoid an underpayment penalty in Illinois?

Under section 804(c)(1)(B), a taxpayer can avoid paying a penalty in the event the payment of estimated tax meets the required annual payment, defined as the lesser of: (1) "90% of the tax shown on the return for the taxable year, or if no return is filed, 90% of the tax for such year" (35 ILCS 5/804(c)(1)(B)(i)(West

What triggers IRS underpayment penalty?

The IRS imposes a tax underpayment penalty when taxpayers fail to pay enough of their tax liability during the year. This penalty applies if you don't meet your obligations through withholding, estimated payments or a combination of both.

For pdfFiller’s FAQs

What is IL-2210?

IL-2210 is a form used by taxpayers in Illinois to calculate and report any underpayment of their estimated income tax.

Who is required to file IL-2210?

Taxpayers who have underpaid their estimated tax payments for the year or have not paid enough tax through withholding may be required to file IL-2210.

How to fill out IL-2210?

To fill out IL-2210, taxpayers need to provide information related to their estimated tax payments, total tax liability, and any applicable credits. The form includes calculations to determine if there is an underpayment and any penalties owed.

What is the purpose of IL-2210?

The purpose of IL-2210 is to ensure that taxpayers pay adequate estimated tax throughout the year to avoid penalties for underpayment.

What information must be reported on IL-2210?

The information that must be reported on IL-2210 includes total income, total tax liability, estimated payments made, and any amounts applied from prior year returns.