Get the free 2013 IL-505-I, Automatic Extension Payment for Individuals Filing Form IL-1040. Auto...

The purpose of Form IL-505-I, Automatic Extension Payment, is to ... (including any other taxes you will report on your IL-1040) on or ... must attach a copy of the document granting your federal

How to fill out 2013 il-505-i automatic extension

How to fill out 2013 IL-505-I automatic extension:

1. Gather the necessary information: Before filling out the IL-505-I automatic extension form, make sure you have all the required information at hand. This includes your personal details, such as name, address, and social security number, as well as any relevant tax information for the tax year 2013.
2. Obtain the form: The IL-505-I automatic extension form is available on the Illinois Department of Revenue's website. You can download it as a PDF or request a paper copy to be mailed to you.
3. Fill out the form: Start by providing your personal information in the designated fields. Make sure to double-check your details for accuracy.
4. Indicate the tax year: Specify that you are requesting an automatic extension for the tax year 2013.
5. Estimate your tax liability: In section A of the form, you need to estimate your tax liability for the year. This involves calculating your total Illinois tax liability and subtracting any payments or credits you have already made.
6. Calculate the amount you owe: Section B of the form is where you calculate the amount of tax you owe. This is the difference between your estimated tax liability and any payments or credits already made.
7. Make a payment: If you owe any tax, it's important to include payment with your extension request. You can pay by check, money order, or by electronic means as outlined in the instructions.
8. Sign and date the form: After completing all the required fields, sign and date the IL-505-I form to certify that the information provided is true and accurate.

Who needs 2013 IL-505-I automatic extension:

1. Taxpayers who need more time to file: The IL-505-I automatic extension is designed for individuals or businesses who are unable to file their Illinois state taxes by the regular deadline (usually April 15th for most taxpayers). This extension allows them an additional six months, making the new deadline October 15th of the same year.
2. Individuals with complex tax situations: If you have a more complicated tax situation that requires additional time to gather all the necessary information and complete your return accurately, filing for an automatic extension can be beneficial. It allows you extra time to ensure your tax return is filed correctly.
3. Those experiencing unexpected delays: Sometimes unforeseen circumstances can cause delays in tax preparation, such as illness, natural disasters, or other emergencies. In such cases, filing for an automatic extension provides the needed time to handle the situation and properly prepare your tax return.

Remember, the IL-505-I automatic extension only extends the deadline for filing your tax return, not the deadline for paying any taxes owed. If you anticipate owing taxes, it's essential to make an estimated payment along with your extension request to avoid penalties and interest.

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What is il-505-i automatic extension payment?

IL-505-I automatic extension payment is a form used to request an extension of time to file an Illinois Individual Income Tax Return.

Who is required to file il-505-i automatic extension payment?

Individuals who cannot file their Illinois Individual Income Tax Return by the original due date are required to file IL-505-I automatic extension payment.

How to fill out il-505-i automatic extension payment?

To fill out IL-505-I automatic extension payment, individuals need to provide their personal information, estimated tax liability, and make a payment to the Illinois Department of Revenue.

What is the purpose of il-505-i automatic extension payment?

The purpose of IL-505-I automatic extension payment is to request additional time to file an Illinois Individual Income Tax Return and avoid late filing penalties.

What information must be reported on il-505-i automatic extension payment?

IL-505-I automatic extension payment requires information such as taxpayer's name, address, social security number, estimated tax liability, and payment amount.

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