IL DoR IL-941-X 2016 free printable template

Illinois Department of Revenue Form IL-941-X 2016 Amended Illinois Withholding Income Tax Return Step 1 Provide your information Reporting Period Federal employer identification number FEIN Seq. Signature Daytime telephone number Year Paid Preparer please print NS DR PTIN Mail to ILLINOIS DEPARTMENT OF REVENUE IL-941-X Page 1 R-12/15 Reset Print PO BOX 19016 SPRINGFIELD IL 62794-9016 Overpayment Worksheet If you checked either box on Line 11 you must check at least one or more boxes below....

How to fill out form il 941 x

How to fill out IL DoR IL-941-X

1. Begin by gathering any necessary documentation related to the original IL-941 filed.
2. Obtain the IL DoR IL-941-X form from the Illinois Department of Revenue website or your local office.
3. Fill in your business name, address, and FEIN (Federal Employer Identification Number) at the top of the form.
4. Indicate the tax period for which you are amending your return.
5. Complete the lines to show the corrected amounts for each applicable category, such as wages, tax withheld, and any other adjustments.
6. Calculate the total tax due or overpayment after adjustments.
7. Sign and date the form, certifying that the information provided is accurate and complete.
8. Submit the completed IL-941-X form to the Illinois Department of Revenue, along with any required payment if additional tax is due.

Who needs IL DoR IL-941-X?

1. Any Illinois employer who needs to amend a previously filed IL-941 form due to errors or changes in reported wages or taxes.

• Who needs form IL-941-X?
• What is the Illinois form 941-X for?
• When is the form due?
• • Is the Amended Withholding Income Tax Return accompanied by any other forms?
  • Where do I send the completed Amended Tax Return?

Who needs form IL-941-X?

This is the Amended Illinois Withholding Income Tax Return form. It should be filed by employers in the State of Illinois who must file form IL-941 in order to report their federal income taxes to the Internal Revenue Service if they have discovered that calculations need to be amended.

What is the Illinois form 941-X for?

It must be filed by the taxpayers if they have to correct data indicated on the submitted State Income Tax Return form on line 1 (which is the amount subject to withholding) or line 2 (total state income tax withheld).

When is the form due?

The filled out IL-941-X form must be submitted as soon as possible in order to minimize interest or penalties for improper return filing. They may be imposed if the IL-941-X is filed after the due date of the initial return form. In order to decrease the tax due (as indicated on form IL-941) the amendment must be submitted within three years after the 15th day of the 4th month following the close of the calendar year in which the tax was withheld or within one year after the date of tax payment.

Is the Amended Withholding Income Tax Return accompanied by any other forms?

In order to file the form properly, the following attachments are required:

• All copies of forms W-2 and W-2C that were missing at the moment of initial filing;

• Forms W-2G

• Forms 1099.

If none of the above-mentioned forms are available, the employer can attach equivalent payee records that include the following details:

• the Federal Employer identification number;

• the date range (the records cover)

• name, SSN, income amount, and Illinois tax withheld for each payee.

Where do I send the completed Amended Tax Return?

The filled out form IL-941-X and the required supporting documents must be sent to the Department of Revenue in Illinois, PO Box 19016, Springfield IL 62794-9016.

 

Instructions and Help about form il 941 x

In this example we'll be preparing form 941 and Schedule B from Mayfield's candy shop for the third quarter using the information provided here the number of employees total pay withholding and tax liability dates and amounts are obtained from the payroll registers for the quarter the basic business information and the reporting period is filled in at the top of the form in part one the number of employees the total compensation paid to those employees and the amount of income tax withheld from that compensation is entered starting on line 5a enter the taxable Social Security wages in column one if any employees have exceeded the wage base for Social Security withholding this number will be smaller than the amount on line two for Mayfield's the wages are all taxable for Social Security multiply this number by twelve point four percent six point two percent for employee and six point two percent for employer and enter it in column two enter any tips subject to Social Security on the next line in column one multiply this amount by twelve point four percent and record it in column two employees at Mayfield's are not tipped employees enter the Medicare taxable wages and tips on the next line in column one multiply this amount by two point nine percent and record it in column two line 5d is for additional Medicare withholding applicable when an employee earns more than two hundred thousand dollars in a calendar year Mayfield's has no employees in this category the additional Medicare tax is 0.9 percent withheld only from the employees wages and tips the employer does not match this amount on line 5e some the amounts in column two for rows 5a through 5d if the business has received an IRS notice and demand for tax due on unreported tips that amount is recorded online 5f total lines three five e and five F and record that amount on line six this is the total calculated tax including federal income tax withheld during the quarter at this point it is necessary to complete part two of form 941 if your business is a monthly depositor or Schedule B if your business is a semi-weekly depositor since Mayfield's is a semi-weekly depositor we will complete Schedule B the purpose of Schedule B is to provide information on the days and the amounts of the tax liability if you are wondering how the IRS would know if you made the right deposits on time this is where you would report the pay dates, and they will use this information to ensure your deposits were on time and the correct amount the days should correspond to pay dates not the dates you made the deposits enter the basic business information at the top of the form including the quarter and the calendar year using the tax liability from the payroll register and noting that this includes federal income tax withheld the employees share of Social Security and Medicare and the employers share of Social Security and Medicare record the amounts for each pay period starting with July 5th then July 19th and the pay...

People Also Ask about

What is the state withholding for Illinois?

Generally, the rate for withholding Illinois Income Tax is 4.95 percent. For wages and other compensation, subtract any exemptions from the wages paid and multiply the result by 4.95 percent.

What is the difference between IL 501 and IL-941?

Illinois withholding income tax payments are made on Form IL-501, Withholding Payment Coupon, and Illinois withholding is reported on Form IL-941, Illinois Withholding Income Tax Return.

What is IL-941 X?

Form IL-941-X 2023 Amended Illinois Withholding Income Tax Return.

Is form 941 a tax return?

IRS Form 941 is more commonly known as the Employer's Quarterly Federal Tax Return. This is the form your business uses to report income taxes and payroll taxes that you withheld from your employees' wages. It also provides space to calculate and report Social Security and Medicare taxes.

Who needs form 941?

Generally, any person or business that pays wages to an employee must file a Form 941 each quarter, and must continue to do so even if there are no employees during some of the quarters.

What is a state of IL-941 form?

Note: Form IL-941 is the only form used to report Illinois income tax withholding with the exception of household employee withholding, which can be reported on Form IL-1040, Individual Income Tax return. If you have household employees, see Publication 121, Illinois Income Tax Withholding for Household Employees.

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What is IL DoR IL-941-X?

IL DoR IL-941-X is a form used by employers in Illinois to amend previously filed Illinois withholding tax returns. It allows employers to correct errors or make changes to their submissions.

Who is required to file IL DoR IL-941-X?

Employers who have made mistakes on their previously filed IL-941 forms regarding Illinois income tax withholdings are required to file IL DoR IL-941-X to correct those errors.

How to fill out IL DoR IL-941-X?

To fill out IL DoR IL-941-X, employers need to provide their information, specify the tax period, and detail the corrections being made to the previously reported amounts for wages, taxes withheld, and other relevant data.

What is the purpose of IL DoR IL-941-X?

The purpose of IL DoR IL-941-X is to allow employers to correct inaccuracies in previously filed tax returns, ensuring that the state receives the correct amounts of withheld taxes from employees.

What information must be reported on IL DoR IL-941-X?

The information required on IL DoR IL-941-X includes the employer's name, address, Illinois Business Tax (IBT) number, the tax period being amended, the corrections being made to wages, withholding amounts, and any other relevant details.