The Illinois Department of Revenue announced in Informational Bulletin FY 2020-24 (“Bulletin 2020-24”) that the tax filing and income tax payment deadlines for 2019 “individual returns, trusts, and corporations” were being automatically extended from April 15, 2020 to July 15, 2020.. 146 34 %%EOF 2020 Tax Calendar: Important IRS Tax Due Dates and Deadlines Know the tax deadlines that apply to you, so you won't be hit with IRS penalties or miss out on a valuable tax break. In Bulletin 2020-26, Illinois authorized taxpayers to base their 2020 estimated tax payments upon 100% of the taxpayers’ estimated 2020 liability or 100% of their actual 2018 or 2019 liability. Gov. The Treasury Department and Internal Revenue Service announced on Saturday that the federal income tax filing due date will be automatically extended from April 15, 2020, to July 15, … With the April 15, 2020 deadline coming up soon for all taxpayers’ 2020 Q1 estimates, as well as for the 2019 returns for partnerships, taxpayers should consult with their Wipfli tax advisor to evaluate the best approach for filing and paying these taxes. 0000015149 00000 n We will assume that you are filing your Form IL-1040 for calendar year 2020 unless you indicate a different filing period in the space provided at the top of the return. The department has not yet formally confirmed whether the July 15, 2020 deadline for filing and paying tax also applies to either replacement tax or pass-through withholding tax, given that the language of Bulletin 2020-24 refers exclusively to “income tax” payments. Governor looking at extending Illinois tax filing deadline March 22, 2020 | by Bruce Kropp Governor JB Pritzker says his office is looking into extending the tax filing deadline in Illinois. 179 0 obj <>stream Illinois is a very tax-friendly state for retirement. Taxpayers who file quarterly estimated returns should note that unlike the federal government, Illinois has not extended the April 15, 2020 due date for first quarter estimated tax payments. In addition, its’ guidance regarding allowances for computing 2020 quarterly estimates was published less than two weeks before the due date of Illinois’ Q1 2020 estimate. or Find an Agent. 0000041781 00000 n J.B. Pritzker announced at his daily press conference on March 25 that July 15 will be the new deadline for Illinoisans to file state income taxes. Details on how to only prepare and file a 2020 IL Tax Return without a Federal Return. 0000001216 00000 n 0000002623 00000 n The due date for calendar year filers is April 15 of the year following the tax year of your return, unless April 15 falls on a weekend or holiday. Get a Quick Quote. 0000000016 00000 n Extension of Filing and Payment Deadlines for Illinois Income Tax Returns The 2019 income […] Gov. Illinois has announced the following tax-related relief measures related to COVID-19. Rick Karlin. The due date for calendar year filers is April 15, 2021. Pritzker additionally is pushing Illinois’ tax filing deadline from April 15 to July 15 to match the federal government’s action. Illinois taxpayers are getting more time to file their state taxes. This filing and payment relief includes: The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Illinois income taxes on April 15, 2020, are automatically extended until July 15, … Even though this combination of factors is sure to raise questions, the department is unlikely to significantly clarify these issues prior to April 15. Illinois tax-filing deadline moved to July 15 amid COVID-19 pandemic March 25, 2020 3:11 pm 25 News Coronavirus, News, Political, Top Stories SPRINGFIELD (WEEK) — … High Court Says Extension of Filing and Payment Deadlines for Illinois Income Tax Returns illinois state tax deadline 2020. The California tax filing and tax payment deadline is April 15, 2021. Many Illinois taxpayers and practitioners have asked whether they could defer payment of their Illinois 2020 Q1 or Q2 estimates until July 15 by overpaying their Illinois extension payment on July 15, 2020, and retroactively applying that overpayment back to the April 15 and June 15 estimates in a way that would cause those estimates to have been timely paid. Your Illinois filing period is the same as your federal filing period. Fill out the form below and a member of our team will get in touch with you. Page Content. I. 0000004789 00000 n 0000003663 00000 n Recent Articles By Paul. 0000020087 00000 n 146 0 obj <> endobj The Illinois Department of Revenue announced in Informational Bulletin FY 2020-24 (“Bulletin 2020-24”) that the tax filing and income tax payment deadlines for 2019 “individual returns, trusts, and corporations” were being automatically extended from April 15, 2020 to July 15, 2020. 0000010739 00000 n hŞb``�c``Õg```,ìf@Ì@ÌÂÀq€�AITŠÔX¸Ï0~c¨eèfrg¨f–aZÀtšis£4óv¦ÙŞ�ºŒ5Œ¯åï29 Illinois Gov. State taxes are due April 15th, but given the current situation with the … Income tax accounting and ASC 740 assistance, Section 179D Energy Efficient Tax Deduction, Internal Audit Outsourcing & Consulting Services, Outsourced CFO, controller and accounting department, Wealth Management and Investment Advisory Services, Microsoft Dynamics 365 Project Service Automation, Connectors for Dynamics 365 Business Central, Illinois guidance regarding COVID-19 impact on 2019 income tax and 2020 estimates, Illinois defers sales tax payment for small restaurants and bars, The state tax challenges of expanded telework, Stimulus act provides welcome relief for employee benefit plans, Valuation and compensation: What the CMS final rule means for hospitals and physicians, Combat rising fraud with strong internal controls, Senior HR Business Forum in La Crosse, WI, Head Start/Early Head Start Monitoring Protocol, Denver-based accounting firm Hughes & Company joins Wipfli. 0000041498 00000 n JB Pritzker delayed the state income tax filing deadline Wednesday, as COVID-19 cases climbed to 1,865, with 19 deaths. Illinois has announced the following tax-related relief measures related to COVID-19. In face of coronavirus, IRS pushes tax deadline to July 15 New York state expected to do same. 0000011049 00000 n 0000000994 00000 n Depending on the volume of sales taxes you collect and the status of your sales tax account with Illinois, you may be required to file sales tax returns on a monthly, semi-monthly, quarterly, semi-annual, or annual basis.. On this page we have compiled a calendar of all sales tax due dates for Illinois… %PDF-1.4 %âãÏÓ Taxpayers who file quarterly estimated returns should note that unlike the federal government, Illinois has not extended the April 15, 2020 due date for first quarter estimated tax payments.. 0000003122 00000 n Illinois first adopted a general state sales tax in 1933, and since that time, the base sales tax rate has risen to 6.25 percent. For non-retirees, calculating Illinois income tax is fairly easy as the state has a flat tax of 4.95% that applies to everyone, regardless of income. 0000095456 00000 n March 20, 2020 Updated: April 3, 2020 … Taxes 2020:April 15 federal tax filing deadline extended to July 15 How long should I keep my tax returns? Almost all retirement income in Illinois is tax free, including pension plans, retirement plans and Social Security. Alabama. Illinois taxpayers will have longer to file their state income taxes this year because of the coronavirus outbreak. January 03, 2021. FY 2021-12 - Illinois State Tax Lien Registry Subscriptions are now available 12/2/2020 6:00:00 AM FY 2021-06 - Changes to the Taxation of Wine Sales to Illinois Purchasers by … Gov. State & Local Tax Cases To Watch In 2021; December 23, 2020. 0000010965 00000 n 0000014200 00000 n 0000010033 00000 n “Illinois will delay the tax filing deadline from April 15 to July 15, aligning our tax day with the federal government and giving our millions of tax payers three additional months to file their individual returns,” said the governor. 0 0000009043 00000 n Effective January 1, 2021, remote retailers, as defined in Section 1 of the Retailers' Occupation Tax Act (35 ILCS 120/1), and sometimes marketplace facilitators, also defined in Section 1 of the Retailers' Occupation Tax Act, must report sales made to Illinois customers using Forms ST-1 and ST-2. Calculating 2020 quarterly estimates based on 100% of 2018 liability for taxpayers who have not filed for 2019, Applying 2019 overpayments towards 2020 quarterly estimated taxes. In addition, taxpayers who timely pay in four equal installments  will avoid late payment penalties if they base their installments upon the lesser of (1) 90% of their 2020 estimated liability or (2) 100% of their actual 2018 or 2019 liability. Maine: The State of Maine has extended the payment deadline of state income tax payments from April 15, 2020, to July 15, 2020. The Alabama Department of Revenue announced that the … 0000010853 00000 n Gov. xref 0000007796 00000 n 0000042145 00000 n I. <<322A894DB6B7E04285F1E9D8BB3E5520>]/Prev 101259/XRefStm 1216>> 0000003827 00000 n 0000001549 00000 n 0000004627 00000 n trailer JB Pritzker has announced a three-month extension due to the coronavirus pandemic. On April 2, 2020 Illinois published Informational Bulletin FY 2020-26 (“Bulletin 2020-26”) to explain the relief that Illinois would provide. 0000006335 00000 n Illinois follows federal lead and extends state income tax deadline to July 15. However, in response to questions from practitioners, the department has informally made the following clarifications: Bulletin 2020-24 explains that its’ relief “does NOT impact the first and second installments of estimated payments for 2020 taxes that are due April 15 and June 15.”. Illinois should move state tax filing deadline to July 15 so it matches the feds’ With the coronavirus outbreak wreaking havoc, the state deadline should be the same as the federal government’s, which was moved back 90 days. 0000095417 00000 n By CST Editorial Board Updated Mar 24, 2020, 6:59am CDT According to Bulletin 2020-26, individuals who want to compute their 2020 estimated tax payments using 100% of their 2018 liability should use Form IL-1040-ES and base their 2020 estimated tax on the amount of tax they owed on 2018 Form IL-1040. single.php. Illinois is one of a minority of states who that has not followed the IRS’ approach of extending the due date of 2020 Q1 estimates to July 15, 2020. Illinois State Income Taxes for Tax Year 2020 (January 1 - Dec. 31, 2020) can be prepared and e-Filed now along with an IRS or Federal Income Tax Return. Access via OICONNECT. The state income tax deadline has been extended until July 15 and more money is coming to aid small businesses during the coronavirus outbreak. 0000008721 00000 n Federal Tax Return deadline details. Portable Toilet Co. Can't Flush Sales Tax, Mo. 0000007089 00000 n Returning student deadlines for applications and admissions documents for terms of enrollment. 0000004005 00000 n 0000019571 00000 n "All taxpayers and businesses will have this additional time to file and … :Answer: It depends. 0000001393 00000 n Businesses who want to compute their 2020 estimated tax payments using 100% of their 2018 liability should use the Form IL-1120 instructions, Appendix B, or IL-990-T instructions, Appendix A, to calculate their estimated payment amount and base their 2020 estimated tax on the amount of tax they owed on their 2018 return. On top of the state sales tax, there may be one or more local sales taxes, as well as one or more special district taxes, each of which can range between 0 percent and 4.75 percent. The filing deadline for Illinois income tax returns has been extended from April 15, 2020, to July 15, 2020. 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