Illinois Estimated Income Tax Payments for Individuals
Extracted from PDF file 2022-illinois-form-il-1040-es.pdf, last modified August 2021
Estimated Income Tax Payments for IndividualsIllinois Department of Revenue IL-1040-ES Estimated Income Tax Payments for Individuals 2022 Am I required to make estimated income tax payments? You must make estimated income tax payments if you reasonably expect your 2022 tax liability to exceed $1,000 after subtracting your Illinois withholding, pass-through withholding, and tax credits for income tax paid to other states, Illinois Property Tax paid, education expenses, the Earned Income Credit, pass-through entity tax credit, and Schedule 1299-C, Income Tax Subtractions and Credits (for individuals). You will likely need to make estimated payments if your income is either fully or partially exempt from Illinois withholding. Complete the Estimated Tax Worksheet to figure your estimated tax and to determine if you are required to make estimated tax payments. If you plan to file a joint income tax return, you must figure your estimated tax on your joint income. If you determine that you are required to make estimated payments, you should pay 100 percent of the tax. If your income changes during the year, you should complete the amended worksheet. If you do not receive your income evenly throughout the year or if you must begin making estimated payments in midyear, see Form IL‑2210, Computation of Penalties for Individuals, for further details on annualizing your income. When are my payments due? Your first estimated payment is due by April 18, 2022. You may either pay all of your estimated tax at that time or pay your estimated tax in four equal installments that are due on April 18, 2022; June 15, 2022; September 15, 2022; and January 17, 2023. If you file on a fiscal-year basis, please adjust all the due dates to correspond to your tax year. Are there any exceptions? You do not have to make estimated payments if you are 65 years or older and permanently living in a nursing home or a farmer. We consider you a farmer if at least two-thirds of your total federal gross income is from farming. Estimated Tax Worksheet Complete the Estimated Tax Worksheet to figure your estimated tax and the amount of any required payments. If your income changes during the tax year, refigure the Estimated Tax Worksheet based on your changes. Enter the refigured amount from Line 10 on your Amended Estimated Tax Worksheet, Line 1. follow the Amended Estimated Tax Worksheet instructions for Lines 2 through 8. Fiscal-year taxpayers – Please adjust the due dates to correspond to your tax year. Electronic Payment Options If you determine that you must make estimated tax payments, we encourage you to use one of the following electronic payment options: Online – Visit our website at mytax.illinois.gov to have your payment taken from your checking or savings account. You will need your IL-PIN (Illinois Personal Identification Number). Credit Card – Use your MasterCard, Discover, American Express, or Visa. The credit card service provider will assess a convenience fee. Have your credit card ready and visit our website or call one of the following: Official Payments Corporation at 1 833 747-1434. What if I do not make my payments? You may be assessed a late-payment penalty if you do not pay the required estimated payments on time. We will apply each payment to the earliest due date until that liability is paid, unless you provide specific instructions to apply it to another period. However, if you pay at least 90 percent of this year’s tax or at least 100 percent of last year’s tax in four equal timely installments, you may not be subject to this penalty. For more information about penalties and interest, see Publication 103, Penalties and Interest for Illinois Taxes. What if I need additional assistance? If you need additional assistance, • visit our website at tax.illinois.gov, • call 1 800 732-8866 or 217 782-3336 (TDD, telecommunications device for the deaf, at 1 800 544-5304), • write to us at Illinois Department of Revenue, P.O. Box 19044, Springfield, Illinois 62794-9044, or • visit a regional office. Our office hours are 8:00 a.m. to 5:00 p.m. (Springfield office) and 8:30 a.m. to 5:00 p.m. (all other regional offices), Monday through Friday. Agreement for Certain Electronic Payments. To print a copy of this form or for more information about this program, visit our website at tax.illinois.gov. If you pay electronically, do not send us your payment voucher. Estimated Tax Voucher If you pay by check or money order, complete Form IL-1040-ES. Enter your Social Security number, and, if you are filing a joint return, enter your spouse’s Social Security number. Enter these numbers in the order they will appear on your Form IL‑1040, Individual Income Tax Return. Enter your name, and, if you are filing a joint return, enter your spouse’s name. Also, enter your address and phone number. Enter the amount you are paying from your Estimated Tax Worksheet, Line 11, on the “Amount of payment” line. Detach the voucher, and enclose it with your payment. Print your Social Security number(s), tax year, and “IL‑1040‑ES” on your payment. Mail both to the address shown on the voucher. Complete your Record of Estimated Tax Payments on the next page. Form IL-1041, IL-1065, and IL-1120-ST filers – Do not use Form IL-1040-ES vouchers. Use the voucher associated with your return type to make any voluntary prepayments of tax. Value Payment Systems at 1 888 9-PAY-ILS (1 888 972-9457). Link2Gov/FIS at 1 877 57-TAXES (1 877 578-2937). Electronic Funds Transfer – Complete Form EFT-1, Authorization IL‑1040‑ES (R‑12/21) Printed by authority of the State of Illinois, web only, 1. This form is authorized as outlined under the Illinois Income Tax Act. Disclosure of this information is required. Failure to provide information could result in a penalty. Page 1 of 2 Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. Estimated Tax Worksheet 1 Enter the Illinois base income you expect to receive in 2022. (See Form IL-1040.) 1 2 Enter the total exemption amount you expect to claim on your 2022 Illinois Income Tax return, Line 10. (See Form IL-1040 and Schedule IL-E/EIC Instructions.) 2 3 Subtract Line 2 from Line 1. This is your net income expected in 2022. 3 4 Multiply Line 3 by 4.95% (.0495). 4 5 Enter the amount of Compassionate Use of Medical Cannabis Program Act and sale of assets by gaming licensee surcharges expected in 2022. 5 6 Add Lines 4 and 5. 6 7 Enter the amount of Illinois Income Tax you expect to be withheld from your wages or other income during 2022 and any pass-through withholding you expect to be paid on your behalf for 2022. 7 8 Enter the amount of credits for Illinois Property Tax paid, income tax paid to other states, education expenses, earned income, pass-through entity tax credit, and tax credits from Schedule 1299‑C you expect to claim on your 2022 return. 8 9 Add Lines 7 and 8. This is the total of your withholding, pass-through withholding, and credits. 9 10 Subtract Line 9 from Line 6. This is your estimated tax for 2022. If $1,000 or less, stop. You do not have to make estimated tax payments at this time. If more than $1,000, continue to Line 11. 10 If your income changes during the year, complete the Amended Estimated Tax Worksheet. 11 Divide Line 10 by 4, and round the result to whole dollars. This is the amount of each of your estimated tax payments. 11 If you chose to credit a prior year overpayment to 2022 and the election was made on or before the extended due date of your prior year return, you may reduce your first estimated tax payment Amended Estimated Tax Worksheet and any subsequent payments until the entire credit is used. If the Use this worksheet to figure any changes to your estimated tax. election was made after the extended due date of your prior year return, the credit is considered paid on the date you made the election. 1 Amended estimated tax from Line 10 above 1 2 Divide Line 1 by 4. 2 3 Amount of estimated payments made with Record of Estimated Tax Payments Voucher Amount 2022 Forms IL-1040-ES, including any prior year overpayment applied to tax year 2022 3 Multiply Line 2 by the number of previously due estimated payments. 4 Subtract Line 3 from Line 4. This amount may be negative. 5 Add Lines 2 and 5, and round to whole dollars. If positive, this is the amount due on your next due date. If zero or negative, nothing is due on your next due date. If negative, continue to Line 7. Otherwise, stop here. 6 If Line 6 is negative, enter the amount here as a positive number. 7 Subtract Line 7 from Line 2, and round the result to whole dollars. This is the amount due on the following due date, if applicable. 8 4 Voucher Check or money Date order number 5 6 7 8 Total Important: Do not redact Social Security Number(s) as this can cause processing delays. Page 2 of 2 Illinois Department of Revenue IL-1040-ES 2022 Estimated Income Tax Payment for Individuals We encourage you to use MyTax Illinois, our free account management program, to make your payments online. If you choose to make your payments by mail, please complete and print a separate copy of this Use payment coupon when you wish toOfficial make an estimated payment. Enter your Social Security numbers in the order they appear on your federal return. Calendar-Year Taxpayers ___ ___ ___ - ___ ___ - ___ ___ ___ ___ ___ ___ ___ - ___ ___ - ___ ___ ___ ___ Your estimated tax payments are due on Your Social Security number Spouse’s Social Security number April 18, 2022 September 15, 2022 June 15, 2022 January 17, 2023 Your first name and initial Spouse’s first name and initial Your last name Street address City Your daytime phone number IL‑1040‑ES (R‑12/21) Reset State ( ) $ . Amount of payment (Whole dollars only) Make check payable and mail this voucher to: ILLINOIS DEPARTMENT OF REVENUE SPRINGFIELD IL 62736-0001 ZIP *60312221W* Print
2022 IL-1040-ES Estimated Income Tax Payment for Individuals
More about the Illinois Form IL-1040-ES Individual Income Tax Estimated TY 2022
If you owe more then $500 a year in income tax on April 15th (because of self employment or other income without tax withholding) you must file a quarterly income tax payment using the worksheet and payment voucher included in Illinois form IL-1040-ES.
We last updated the Estimated Income Tax Payments for Individuals in January 2022, so this is the latest version of Form IL-1040-ES, fully updated for tax year 2021. You can download or print current or past-year PDFs of Form IL-1040-ES directly from TaxFormFinder. You can print other Illinois tax forms here.
Related Illinois Individual Income Tax Forms:
|Form Code||Form Name|
|Form IL-1040-PTR||Property Tax Rebate Form|
|Form IL-1040||Individual Income Tax Return|
|Form IL-1040-V||Payment Voucher for Individual Income Tax|
|Form IL-1040-X||Amended Individual Income Tax Return|
|Form IL-1040-X-V||Payment Voucher for Amended Individual Income Tax|
Illinois usually releases forms for the current tax year between January and April. We last updated Illinois Form IL-1040-ES from the Department of Revenue in January 2022.
Form IL-1040-ES is an Illinois Individual Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Illinois Form IL-1040-ES
We have a total of eight past-year versions of Form IL-1040-ES in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2022 IL-1040-ES Estimated Income Tax Payment for Individuals
2020 IL-1040-ES, Estimated Income Tax Payments for Individuals
2018 IL-1040-ES, Estimated Income Tax Payments for Individuals
2016 IL-1040-ES, Estimated Income Tax Payments for Individuals
2014 IL-1040-ES, Estimated Income Tax Payments for Individuals
While we do our best to keep our list of Illinois Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.