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Illinois Free Printable 2019 IL-1065-X Instructions for 2020 Illinois Amended Partnership Replacement Tax Return (Includes Schedule B)

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Amended Partnership Replacement Tax Return (Includes Schedule B)
2019 IL-1065-X Instructions

Illinois Department of Revenue IL-1065-X Instructions Use for tax year ending on or after December 31, 2019 and before December 31, 2020. 2019 What’s new for 2019? • A checkbox has been added to Step 1 for 52/53 week filers. See Specific Instructions for more information. • Public Act 101-031 • requires the addition of a line to report income from the surcharge on the sale of assets by gaming licensee. See Specific Instructions for more information. • requires wagering and gambling winnings from Illinois sources for taxable years ending on or after December 31, 2019, to be allocated to Illinois and to be included in determining apportionment. See Apportionment Formulas for more information. • creates the Data Center Construction Employment Tax Credit. See Schedule 1299-I for information. • Public Act 101-178 extends the Film Production Services Tax Credit. The credit is not eligible for tax years beginning on or after January 1, 2027. See Schedule 1299-I for more information. • Public Act 101-207 • extends the Research and Development Credit to tax years ending prior to January 1, 2027, and • creates the Apprenticeship Education Expense Credit effective for tax years beginning on or after January 1, 2020. See Schedule 1299 Specific Instructions and Schedule 1299-I for more information about these credits. • Public Act 101-001 adds two new lines to Schedule M. See Schedule M Instructions for specific information. • An addition equal to the amount of the deduction allowed under IRC Section 250(a)(1)(A). • A subtraction equal to the excess business loss disallowed as a deduction by IRC Section 461(1)(1)(B). This line does not apply to Form IL-1120 filers. • Public Act 100-981 added two new bonds to Schedule M, Line 20. See Schedule M Instructions for more information. General Information Who must file Form IL-1065-X? • You should file Form IL-1065-X if you are amending a previously filed, processable Form IL-1065, Partnership Replacement Tax Return, for a tax year ending on or after December 31, 2006. Your change can occur from a state or federal change that affects items used to compute your Illinois net income, net loss, or credits, such as • an amendment of your federal income tax return, • an adjustment made by the Internal Revenue Service (IRS), or • any other recomputation or redetermination. A separate amended return must be filed for each tax year you need to amend. What if I need to change my return before the extended due date expires? If you filed your original Form IL-1065 and a state or federal correction or change needs to be made before the extended due date expires (see the instructions of your original return), you should file Form IL-1065-X. Due to the automatic extension, any return filed after the original return and on or before the extended due date will be treated as the original return. If you are filing Form IL-1065-X to change the election on your original return to treat all income other than compensation as business income, check the box in Step 1, Line F, and provide a written explanation indicating the change to your election in the “Explain the changes on this return” area of your Form IL-1065-X. How long do I have to amend my return? The amount of time you have to amend your return depends on whether your Form IL-1065-X is being filed to report a state or federal change. State change - If your change creates or increases the Illinois net loss for the year, you must file Form IL-1065-X showing the increase in order to carry the increased loss amount to another year. If your change decreases the tax due to Illinois and you are entitled to a refund or credit carryforward, you must file Form IL-1065-X within • three years after the due date of the return (including extensions), • three years after the date your original return was filed, or IL-1065-X Instructions (R-12/19) one year after the date your Illinois tax was paid, whichever is latest. If your change increases the tax due to Illinois, you should file Form IL-1065-X and pay the tax, penalty, and interest promptly. Federal change - You should not file this form until you receive a federal finalization notification from the IRS stating that they have accepted your change, a formal agreement, or judgment. Acknowledgement that the IRS received your amended return is not acceptable proof of federal finalization. If your federal change decreases the tax due to Illinois and you are entitled to a refund or credit carryforward, you must file Form IL-1065-X within two years plus 120 days of federal finalization. If your federal change increases the tax due to Illinois, you must file Form IL-1065-X and pay any additional tax within 120 days of IRS partial agreement or finalization. In order to avoid late payment penalties, you must attach proof of the federal finalization date, showing the change was reported to Illinois within 120 days of IRS acceptance, or you may be assessed a late-payment penalty. If you fail to notify us of your change by filing Form IL-1065-X, we may issue a notice of deficiency at any time. Once you file your change, we may issue a notice of deficiency within two years. What if I am amending my return due to multiple federal adjustments? If you are amending your original Form IL-1065 due to multiple federal adjustments that were finalized on different dates, then you must complete separate amended Illinois returns for each federal finalization date. For example, if you receive a 2019 return adjustment from the IRS on July 10, 2020, then in August 2020, you amend your federal Form 1065 and receive federal finalization on October 22, 2020, then you must submit one Form IL-1065-X for the July 10, 2020, adjustments and a separate Form IL-1065-X for the October 22, 2020, adjustments. Failure to file separate amended returns for each federal finalization date may result in the denial of the entire claim, a delay in processing, or the assessment of penalty and interest. Printed by the authority of the State of Illinois - Web only, One copy Page 1 of 7 What if my amended return involves unitary filing? If you are amending your original • non-unitary Form IL-1065 to be included in an existing unitary group and are required to file Schedule UB, you must file an amended Form IL-1065-X, following the line by line instructions provided for Form IL-1065 and Illinois Schedule UB, Combined Apportionment for Unitary Business Group, for the tax year you are amending. In addition, — any combined return filed by the combined group on Form IL-1120 must also be amended to include your information, and — each member that filed a separate unitary return must file an amended return to include your information. • unitary Form IL-1065 to report a state or federal change to your unitary income and are required to file Schedule UB, any combined return filed by the group or separate unitary return may also need to be amended. What if my amended return involves an Illinois net loss deduction (NLD)? If you have an Illinois NLD carryover from any loss year ending on or after December 31, 1986, it is subtracted from and limited to base income allocable to Illinois. To determine your “Illinois net loss” start with your total unmodified base income and apply all addition and subtraction modifications, and all allocation and apportionment provisions. If you are carrying an Illinois NLD, you must complete and attach Illinois Schedule NLD, Illinois Net Loss Deduction, and claim the deduction on Step 7, Line 48. See Specific Instructions for Step 7, Line 48. Do not file Form IL-1065-X to report an Illinois NLD carryforward until after you have filed the loss year Form IL-1065, Form IL-1065-X, or Form IL-843 (for tax years ending prior to December 31, 2006) reporting the loss. When you file Form IL-1065-X, you must attach a completed Illinois Schedule NLD. Failure to attach the correct and completed schedule could result in partial or total denial of your claim. If you need more information, visit our website at tax.illinois.gov and see the Schedule NLD instructions, or the Illinois Income Tax Regulations, Sections 100.2050 and 100.2300 through 100.2330. Who should sign the return? Your Form IL-1065-X must be signed by a partner or any other officer duly authorized to sign the return. In the case of a bankruptcy, a receiver, trustee, or assignee must sign any return required to be filed on behalf of the partnership. If you are operating as a business organized under the Lloyd’s plan of operation, an officer of that plan must sign Form IL-1065-X. Any person paid to prepare the return (other than a regular, full-time employee of the taxpayer, such as a clerk, secretary, or bookkeeper) must provide a signature, date the return, enter the preparer tax identification number (PTIN) issued to them by the Internal Revenue Service, and provide their firm’s name, address, and phone number. Can a reasonable facsimile be used? In general, you must obtain and use forms prescribed by the Illinois Department of Revenue (IDOR). Separate statements not on forms provided or approved by IDOR will not be accepted and you will be asked for appropriate documentation. Failure to comply with this requirement may result in failure to file penalties, a delay in the processing of your return, or a delay in the generation of any overpayment. Additionally, failure to submit appropriate Page 2 of 7 documentation when requested may result in a referral to our Audit Bureau for compliance action. Partnerships must complete Form IL-1065-X. Do not send a computer printout with line numbers and dollar amounts attached to a blank copy of the return. Computer generated printouts are not acceptable, even if they are in the same format as IDOR forms. Computer generated forms from an IDOR-approved software developer are acceptable. What are the penalties and interest? Penalties — You will owe • a late-filing penalty if you do not file a processable return by the extended due date; • a late-payment penalty if you do not pay the tax you owe by the original due date of the return; • a bad check penalty if your remittance is not honored by your financial institution; • a cost of collection fee if you do not pay the amount you owe within 30 days of the date printed on your bill. Interest — The interest rate is the federal underpayment rate, which is set by the IRS under IRC Section 6621. For more information about penalties and interest, see Publication 103, Penalties and Interest for Illinois Taxes, available at tax.illinois.gov. What must I attach to my Form IL-1065-X? This form must contain a complete explanation of the reasons for filing the claim or amendment. You must attach proof of the federal finalization date and any schedules, forms, breakdowns, statements, or other documentation required to support your claim. If Form IL-1065-X is submitted without the proper attachments, it may be partially or totally denied. Examples of federal finalization include a copy of one or more of the following items: • your audit report from the IRS • your federal record of account verifying your ordinary business income If you are filing Form IL-1065-X because • you filed an amended federal return and your tax due to Illinois decreases, you must attach proof of the federal finalization date, a copy of that federal return, plus any other related forms, schedules, or attachments, including a signed and dated copy of any federal report of income tax examination changes, if applicable. • you filed an amended federal return and your tax due to Illinois increases, you must attach proof of the federal finalization date, including a signed and dated copy of any federal report of income tax examination changes, if applicable, showing the change was reported to Illinois within 120 days of IRS acceptance, or you may be assessed a late-payment penalty. • of a change by the IRS, you must include all copies of the federal examining officer’s reports, including preliminary, revised, corrected, and superseding reports, and a signed and dated copy of any federal report of income tax examination changes, if applicable. • you copied information incorrectly from your federal Form 1065 onto your Form IL-1065, you must include a copy of your federal Form 1065. • of a change in, or audit of, another state’s tax return, you must include a copy of the other state’s corrected return or the examining officer’s reports. • of an Illinois net loss deduction, you must include a completed Illinois Schedule NLD. See Specific Instructions for Step 7, Line 48. IL-1065-X Instructions (R-12/19) • • • of a change in the information reported on your Schedule B, Partners’ or Shareholders’ Information, you must include a corrected Illinois Schedule B. of changes reported on a revised Schedule K-1-P or K-1-T (or any equivalent document) you received, you must include a copy of the revised Schedule(s) K-1-P or K-1-T (or equivalent document). Do not attach copies of Schedule(s) K-1-P you issued and which lists your name and FEIN in Step 1 of Schedule K-1-P. of changes, other than those described above, see Form IL-1065 Instructions and any schedules for the year you are changing to determine what attachments you must provide. Should I round? You must round the dollar amounts on Form IL-1065-X to whole-dollar amounts. To do this, you should drop any amount less than 50 cents and increase any amount of 50 cents or more to the next higher dollar. Where should I file? Mail your Form IL-1065-X to: ILLINOIS DEPARTMENT OF REVENUE PO BOX 19016 SPRINGFIELD IL 62794-9016 What if I need additional assistance or forms? Visit our website at tax.illinois.gov for assistance, forms, or schedules. • Write us at: ILLINOIS DEPARTMENT OF REVENUE PO BOX 19001 SPRINGFIELD IL 62794-9001 • Call 1 800 732‑8866 or 217 782-3336 (TDD, telecommunications device for the deaf, at 1 800 544-5304). • Visit a taxpayer assistance office - 8:00 a.m. to 5:00 p.m. (Springfield office) and 8:30 a.m. to 5:00 p.m. (all other offices), Monday through Friday. • Specific Instructions For instructions regarding completion of Steps 1 through 8, refer to the Form IL-1065 Instructions and schedules for the year being amended. Specific instructions for most of the lines are included. If a specific line is not referenced, follow the instructions on the form. Enter the tax year you are amending in the space provided at the top of Form IL-1065-X. Step 1: Identify your partnership A — Type or print your legal business name. If you have a name change from your original return, check the corresponding box. B — Type or print your mailing address. If your address has changed since you filed your last return, check the box. C — Check the box if you are filing this form only to report an increased net loss, you have no surcharge for sale of assets by gaming licensee and no pass-through withholding payments to report on behalf of your members on your original or amended return, and no overpayment will result. Complete Steps 2 through 5, Step 6, if applicable, and Step 7, Line 47. Sign the return in Step 10 and leave the rest of the form blank. D — Check the appropriate box if you are an investment partnership or publicly-traded partnership. Otherwise, leave this line blank. E — Check the appropriate box for the reason you are filing this return. If you are amending due to a federal change, you must check the appropriate box for partial agreed or finalized, and include the date of IRS finalization, which might not be the date the federal amended return was filed. Please attach a dated copy of any federal examining officer’s report. If you do not provide this date or the required attachments, you may be assessed penalties and interest. F — If you are filing Form IL-1065-X before the extended due date, and wish to make the election to treat all income, other than compensation, as business income for this tax year, check this box. If you previously had nonbusiness income on Form IL-1065, Step 5, Lines 36 and 44, you must reduce these amounts to zero on this Form IL-1065-X. This election must be made by the extended due date of the original tax return. Once made, the election is irrevocable. If you are filing Form IL-1065-X after the extended due date of the original return and did not make the election on your most recent return filed before the extended due date, you cannot check this box. G — Entire your entire federal employer identification number (FEIN). H — If you are a member of a unitary business group and are included on Schedule UB, check the box. Enter the entire FEIN of IL-1065-X Instructions (R-12/19) the member who prepared the Illinois Schedule UB and attach the Schedule UB to this return. I — Enter your North American Industry Classification System (NAICS) Code. If you are unsure of your code, you can research the information at www.census.gov/eos/www/naics/ or www.irs.gov. J — If you have completed federal Form 8886 or federal Schedule M-3, Part II, Line 10, to report a tax shelter and you did not attach a copy to the original return, check the appropriate box and attach a copy of the federal form or schedule to this return. If you are filing this return because of changes associated with federal Form 8886 or federal Schedule M-3, Part II, Line 10, provide a detailed explanation in the “Explain the changes on this return” area of your IL-1065-X. K — You must check the box and attach Form IL-4562, Special Depreciation, if you are claiming special depreciation addition or subtraction modifications on Form IL-1065-X, even if the amounts are not changing from your original return. L — You must check the box and attach Schedule M, Other Additions and Subtractions (for businesses), if you are claiming other addition or subtraction modifications on Form IL-1065-X, even if the amounts are not changing from your original return. M — You must check the box and attach Schedule 80/20, RelatedParty Expenses, if you are claiming related-party expenses modifications on your Form IL-1065-X, even if the amounts are not changing from your original return. N — Check the box if you are claiming deductions or credits listed on Illinois Schedule 1299-A, Tax Subtractions and Credits. You must check the box and attach Illinois Schedule 1299-A and any other required support listed on Schedule 1299-A to your tax return to support any deductions or credits you are claiming or passing to your shareholders. O — If your business activity is protected under Public Law 86-272, check this box and complete Steps 1 through 7 of the IL-1065-X. P — Check this box if you are filing this amended return to report changes to your Illinois sales factor numerator due to the inclusion or exclusion of throwback sales. Q — Check this box if you are filing this amended return to report changes to your Illinois sales factor numerator due to the inclusion or exclusion of double throwback sales. R — If you are attaching Subgroup Schedule to your Schedule UB, check the box. See Subgroup Schedule and Schedule UB Instructions for more information. Page 3 of 7 S — Check this box if you are a 52/53 week filer. A 52/53 week filer is a fiscal filer with a tax year that varies from 52 to 53 weeks because their tax year ends on the same day of the week instead of the last day of the month. Explain the changes on this return The purpose of this area is to allow you to explain what specific changes you are making to your Illinois tax return. You should include all relevant information, including, but not limited to, changes made to • specific addition and subtraction modifications, • unitary membership or unitary status, • the business income election, • credit or credit recapture amounts, • the Illinois net operating loss deduction, and • the federal or other state return that caused changes to the Illinois return. You must provide an explanation for each line item you change. If your changes generate an overpayment which you elect to receive as a credit carryforward and you elect to apply that credit to a tax year other than the year described in the Line 69 instructions, you must follow the instructions found under “May I apply my credit to a different tax year?” If you fail to include the required information in your explanation, your election will be considered invalid and we will not apply your credit as you requested. General Information for Steps 3 through 8 Column A — Enter the amounts from your most recently filed or adjusted return for the year that you are amending. These may be figures from your original Form IL-1065 or a previously amended or audited return. Column B — Enter the correct amount for each line in Column B. For each line item you change, you must provide an explanation in the “Explain the changes of this return” area of your IL-1065-X. If you are filing this form only to report an increase in your Illinois net loss, you have no surcharge for sale of assets by gaming licensee, no pass-through withholding payments to report on behalf of your members on your original or amended return, and the change will not result in an overpayment, see the instructions for Step 7, Line 47. Steps 2 and 3: Figure your ordinary income or loss and Figure your unmodified base income or loss If you are a member of a unitary group see “What if I am a member of a unitary group?“ in the Form IL-1065 instructions. Lines 1 through 13 — Refer to your Form IL-1065, Steps 2 and 3, Specific Instructions, for the year being amended. Do not apply your Illinois net loss deduction amount from Illinois Schedule NLD in this step. Net Loss Deductions are reported on Step 7, Line 48. Steps 4 and 5: Figure your income or loss and Figure your base income or loss If you are a member of a unitary group see “What if I am a member of a unitary group?“ in the Form IL-1065 instructions. Lines 15 through 22 and Lines 24 through 33 — List each item and the amount on the line provided. You must identify all subtractions and attach all of the required supporting documentation. If you need to make a correction to Line 21 or Line 27, use the worksheet located in the Schedule B Instructions (Form IL-1065 Instructions) to figure the correct amounts. You must Page 4 of 7 attach a corrected Illinois Schedule B if there is a change in the information reported on your most recently filed Illinois Schedule B. Line 35 — This is your base income or loss. Column A — Enter the amounts from your most recently filed or adjusted return. Do not check a box on Lines A or B to indicate how your income was reported on your most recently filed or adjusted return. The check boxes on Lines A and B are used when reporting your amended base income or loss in column B. Column B — Follow the instructions on the form and check the box on Line A or B that applies to the amount in Column B. You must check one of these boxes and follow the instructions for that line when completing Column B. Check the box on Line A if • all of your base income or loss is derived inside Illinois; and • you do not have any income or loss to report on Lines 36, 37, 44, or 45. If you check the box on Line A, do not complete Step 6, Column B. All of your amended base income or loss is allocable to Illinois. Skip Step 6, Column B, enter the amount from Step 7, Column B, Line 35 on Step 7, Column B, Line 47, and complete the remainder of the return. Check the box on Line B if any of the following apply • your base income or loss is derived inside and outside Illinois; • all of your base income or loss is derived outside Illinois; or • you have income or loss to report on Lines 36, 37, 44, or 45. If you check the box on Line B, you must complete all lines of Step 6, Column B. Submitting Form IL-1065-X with an incomplete Step 6, Column B, including Lines 40, 41, and 42 may result in a delay in processing your return, further correspondence, and you may be required to submit further information to support your filing. See the Specific Instructions for Step 6 for more information. Unitary filers who are required to file a Schedule UBYou must complete both Step 4 of the Schedule UB and Step 6, Column B of the Form IL-1065-X. Step 6: Figure your income allocable to Illinois Complete Step 6 only if you originally completed this step, or if you need to make a change that affects your base income or loss allocable to Illinois. Refer to Form IL-1065, Step 6, Specific Instructions, for the year being amended. You must check the box on Line B and complete Step 6 if any portion of Step 5, Column B, Line 35, base income or loss, is derived outside Illinois, or you have any income or loss to report on Column B, Lines 36, 37, 44, or 45. If you do not complete all of Step 6, Column B, Lines 36 through 46, we may issue a notice and demand proposing 100 percent of income as being allocated to Illinois, or in the case of a loss return, a notice indicating none of your loss as being allocated to Illinois. Lines 36 and 44 — If you elected to treat all of your income other than compensation as business income on your original tax return, you must follow that election by entering zero on Form IL-1065-X, Lines 36 and 44. If you are filing Form IL-1065-X before the extended due date and are making the election to treat all nonbusiness income as business income, Column B, Lines 36 and 44 should be reduced to zero. Step 7: Figure your net income Line 47 — Follow the instructions on the form. If the amount in Column A reflects income and the corrected amount in Column B reflects a loss, you may be able to carry this loss to other years as an Illinois NLD. See the instructions for Illinois Schedule NLD for more information. IL-1065-X Instructions (R-12/19) If you are filing this form only to report an increase in your Illinois net loss, you have no surcharge for sale of assets by gaming licensee, no pass-through withholding payments to report on behalf of your members on your original or amended return, and the change will not result in an overpayment, check the box in Step 1, Line C, complete Steps 2 through 5, Step 6, if applicable, and Step 7, Line 47. Complete the “Explain the changes on this return” area of your IL-1065-X stating what caused the increase in the Illinois net loss and sign the return in Step 10. Leave the rest of the form blank. Line 48 — Enter your Illinois NLD from the Illinois Schedule NLD, Step 1, Line 5 total box. Attach Illinois Schedule NLD to your Form IL-1065-X. Use the schedule specific to your tax year. Line 52 — The standard exemption is $1,000 multiplied by a fraction in which the numerator is your base income allocable to Illinois and the denominator is your total base income. This figure cannot be greater than “$1,000.” The standard exemption is $0.00 if your unmodified base income amount on Step 3, Line 13 is of $250,000 or more. If you have a change in your tax year end, and the result is a tax period of less than 12 months, the standard exemption is prorated based on the number of days in the short tax year. However, if this is your first or final return, you are allowed to use the full-year standard exemption even if it is a short tax year. Line 53 — If Line 49 is a loss, enter the amount from Line 49 on Line 53. Do not increase your loss by the exemption allowance on Line 52. Step 8: Figure your net replacement tax and pass-through withholding payments you owe Follow the instructions on the form. Be sure to attach any required schedules or forms. Line 55 — See Illinois Schedule 4255, Recapture of Investment Tax Credits, for more information. You must attach Illinois Schedule 4255 if you have an amount on this line. Line 57 — See Form IL-477, Replacement Tax Investment Credits, for more information. You must attach Form IL-477 and any other required support listed on Form IL-477 if you have an amount on this line. Line 59 — Sale of Assets by Gaming Licensee surcharge. Use the instructions and Surcharge Worksheet in the Form IL-1065 instructions to figure your surcharge. Line 60 — Complete all sections of Illinois Schedule B and enter the amount from Illinois Schedule B, Section A, Line 9 on this line. This is the amount of pass-through withholding payments you owe on behalf of your members. You must attach a corrected Illinois Schedule B if there is a change in the information reported on your most recently filed Illinois Schedule B. See “Definitions to help you complete your Form IL-1065” in the Form IL-1065 instructions for more information. Do not include on Line 60 any pass-through withholding payments reported to you on Schedule(s) K-1-P or K-1-T. Pass-through withholding payment amounts reported to you are included on Step 9, Line 62c. You must also issue revised Schedule(s) K-1-P to your partners if any amounts reported to them on the original Schedule(s) K-1-P you issued have changed. Mark the top of the revised Schedule(s) K-1-P you issue as “Revised.” Step 9: Figure your refund or balance due If you are filing this form only to report an increase in your Illinois net loss, you have no pass-through withholding payments to report on behalf of your members on your original or amended return, and an overpayment will not result, do not complete this step. IL-1065-X Instructions (R-12/19) Line 62a — Enter the sum of any overpayment from your prior year tax returns that you requested to be applied to this year’s tax return. Take into account any correspondence we may have sent you that changed the amount of your credit carryforward from the previous year. Line 62b — Enter the sum of the following, not including any penalty and interest previously paid: • voluntary estimated payments or tax prepayments made during the tax year, • extension payments, • any tax payments you made with a previously filed Form IL-1065-X, and • any other payments made prior to the date this amended return is filed (e.g., responding to a bill). Line 62c — Enter the amount you wish to claim of Illinois pass-through withholding payments reported to you by partnerships, S corporations, or trusts, on Schedule(s) K-1-P or K-1-T. If you received more than one Schedule K-1-P or K-1-T, add the amounts you wish to claim from all the schedules and enter the total on Line 62c. Attach copies of the Schedules K-1-P and K-1-T you received from the pass-through entities to your Form IL-1065-X. See “Definitions to help you complete your Form IL-1065” in the Form IL-1065 instructions for more information. Do not include on Line 62c any pass-through withholding payments you owe on behalf of your members. Pass-through withholding payments you owe on behalf of your members are included on Step 8, Line 60. Line 62d — Enter the amount of any Illinois gambling withholding shown on Form W-2G. Attach Forms W-2G. Line 64 — Enter previously paid penalty and interest. Obtain this information from your MyTax Illinois account. Sign into mytax.illinois.gov to view or register your account. Line 65 — Enter the total amount of any overpayment, credit carryforward, or refund (whether or not you received the overpayment) reported on your previously filed Form IL-1065 or Form IL-1065-X. Do not include any interest that you received. Line 69 — Enter the amount of overpayment you elect to be credited forward. Your credit carryforward will not be applied if you do not file a processable return. If your overpayment accrues interest and you elect to receive your • entire overpayment as a credit carryforward, any interest due will be applied with your credit as an additional credit carryforward. We will calculate the amount of interest due and notify you. When you claim your credit carryforward in a future year you must include this interest amount in the amount claimed. • overpayment as both a credit carryforward and a refund, we will apply the credit as you request and include any interest due with your refund. Your credit carryforward may be reduced by us due to corrections we make to your return, or to satisfy any unpaid tax, penalty, and interest due for this year or any other year. If we reduce your credit carryforward, it may result in a late-payment penalty in a subsequent year. To which tax year will my credit apply? If your amended 2019 return was filed ‰‰ on or before the original filing and payment due date of your original return, your credit will be applied to the next full tax year, unless you elect to apply the credit to a different tax year. Page 5 of 7 Example 1: You file your 2019 calendar-year amended return on March 1, 2020, requesting to receive your overpayment as a credit. March 1, 2020, falls before the original filing and payment due date of the 2019 tax year (April 15, 2020, for calendar-year filers). Your credit will be applied against your 2020 tax year liability. ‰‰ after the original filing and payment due date of your original return, your credit will be applied to the next full tax year in which timely payments can be made as of the date you are filing this return, unless you elect to apply the credit to a different tax year. Example 2: You file your 2019 calendar-year amended return on August 4, 2020, requesting to receive your overpayment as a credit. August 4, 2020, is after the original filing and payment due date of the 2019 tax year (April 15, 2020, for calendar-year filers), but is before the original filing and payment due date of the 2020 tax year (April 15, 2021, for calendar-year filers). Your credit will be applied against your 2020 tax year liability. Example 3: You file your 2019 calendar-year amended return on April 28, 2021, requesting to receive your overpayment as a credit. April 28, 2021, is after the original filing and payment due date of the 2020 tax year (April 15, 2021, for calendaryear filers), but is before the original filing and payment due date of the 2021 tax year (April 15, 2022, for calendar-year filers). Your credit will be applied against your 2021 tax year liability. If you wish to apply the credit to a different tax year, see “May I apply my credit to a different tax year?” You may complete the Credit Carryforward Worksheet on Page 7 if you require assistance determining the year to which your credit will apply. With what date will my credit apply against my tax liability? If your amended 2019 return was filed ‰‰ on or before the extended due date of your original return (October 15, 2020, for calendar-year filers), your credit is considered to be paid on the original due date of your original return (April 15, 2020, for calendar-year filers). Example 1: You file your 2019 calendar-year amended return on or before the extended due date of your original return requesting $500 be applied as a credit. All of your payments are made before the original due date of your original return. Your credit of $500 will be considered to be paid on April 15, 2020. However, if all or a portion of your overpayment results from payments made after the original due date of your original return, that portion of your credit is considered to be paid on the date you made the payment. Example 2: You file your 2019 calendar-year amended return on or before the extended due date of your original return requesting $500 be applied as a credit. Your overpayment includes payments of $400 you made before the original due date of your original return, and a $100 payment you made on June 1, 2020. Your credit of $400 will be considered to be paid on April 15, 2020. The remaining $100 credit will be considered to be paid on June 1, 2020. ‰‰ after the extended due date of your return, your credit is considered to be paid on the date you filed the amended return on which you made the election. Example 3: You file your 2019 calendar-year amended return on December 1, 2020, requesting $500 be applied as a credit. Your credit of $500 will be considered to be paid on Page 6 of 7 December 1, 2020, because you filed your amended return after the extended due date of your 2019 calendar-year original return. You may complete the Credit Carryforward Worksheet on Page 7 if you require assistance determining with what date your credit will apply. May I apply my credit to a different tax year? Yes. If you wish to apply your credit to a tax year other than the one described above, you must indicate the tax year to which you wish to have the credit apply in the “Explain the changes on this return” area of your IL-1065-X. If you do not follow these instructions, your election will be considered invalid and we will apply your credit as indicated under “To which tax year will my credit apply?” If you submit a valid request, we will apply your credit as you requested and notify you. Once made, your election to change the tax year to which your credit will apply is irrevocable. You may only apply your credit to tax years occurring after the year of the return creating the overpayment. If you request to apply more credit than our records show you have available, we will apply the maximum amount available and notify you of the difference. Line 70 — Follow the instructions on the form. We will calculate any interest that may be due you and include it in your refund check. Any refund may be reduced to satisfy any outstanding liability. We do not currently offer direct deposit as a method for receiving a refund from an amended return. Overpayments will be refunded by check. Line 71 — Follow the instructions on the form. This is your amount of tax due that must be paid in full if $1 or more. We encourage you to let us figure your penalties and interest and send you a bill instead of determining these amounts yourself. We will compute any penalty and interest due and notify you. For more information see “What are the penalties and interest?” in these instructions and Publication 103, Penalties and Interest for Illinois Taxes. We will apply all payments against tax first, penalty second, and interest third. If you have a balance due on Line 71, be sure to enter the amount you are paying on the top of Page 1 of the Form IL-1065-X. Complete a payment voucher, Form IL-1065-X-V, make your check or money order payable to “Illinois Department of Revenue,” and attach them to the first page of this form. Step 10: Signature, date, and paid preparer’s information You must sign and date your return. If you do not sign your return, it will not be considered filed and you may be subject to a nonfiler penalty. If you pay someone to prepare your return, the income tax return preparer must also sign and date the return, enter the preparer tax identification number (PTIN) issued to them by the Internal Revenue Service, and provide their firm’s name, address, and phone number. If you want to allow the paid preparer listed in this step to discuss this return with IDOR, check the box. This authorization will allow your paid preparer to answer any questions that arise during the processing of your return, call us with questions about your return, and receive or respond to notices we send. The authorization will automatically end no later than one year after you file your amended return. You may revoke the authorization at any time by calling or writing us. IL-1065-X Instructions (R-12/19) Credit Carryforward Worksheet Step 1: Determine the tax year to which your credit will apply Check box A or B and follow the instructions for the box you checked. If you did not check a box, do not complete the question(s) associated with that box. A I filed my amended return on or before the original filing and payment due date of my original return. Complete Line 1a only if you checked box A, above. 1a Enter the ending date of the next full tax year. This is the year your credit will be applied to unless you elect to apply it to a different year. 1a ____/____/_______ Example: • A calendar-year filer, filing an amended return on March 1, 2020 (which falls before April 15, 2020, the original filing and payment due date for the 2019 tax year), would enter the next full tax year ending date, 12/31/2020. B I filed my amended return after the original filing and payment due date of my original return. Complete Lines 1b through 2b only if you checked box B, above. 1b Enter the date you filed this amended return. 1b ____/____/_______ 2b Enter the ending date of the next full tax year for which a payment made on the date entered on Line 1b would be considered a timely payment. This is the year your credit will be applied to unless you elect to apply it to a different year. 2b ____/____/_______ Examples: • A calendar-year filer, filing an amended return on August 4, 2020 (which falls after April 15, 2020, the original filing and payment due date for the 2019 tax year, but before April 15, 2021, the original filing and payment due date for the 2020 tax year), would enter 12/31/2020 on Line 2b. • A calendar-year filer, filing an amended return on April 28, 2021 (which falls after April 15, 2021, the original filing and payment due date for the 2020 tax year, but before April 15, 2022, the original filing and payment due date for the 2021 tax year), would enter 12/31/2021 on Line 2b. Step 2: Determine the date that your credit will apply against your tax liability Check box A or B and follow the instructions for the box you checked. If you did not check a box, do not complete the question(s) associated with that box. Credit carryforwards calculated on this worksheet will not be available until your return is processed by IDOR. Your credit carryforward may be reduced by us due to corrections we make to your return, or to satisfy any unpaid tax, penalty, and interest due for this year or any preceding year. If we reduce your credit carryforward, it may result in a late-payment penalty in a subsequent year. A I filed my amended return on or before the extended due date of my original return. Complete Lines 1a through 3a only if you checked box A, above. 1a Enter the original due date for your 2019 original return. 2a Enter the total amount of your overpayment from payments made on or before the date entered on Line 1a. A credit in this amount will be applied to your account with the date entered on Line 1a. 3a Enter the overpayment amount(s) and payment date(s) for any payment(s) you made after the date entered on Line 1a. Credit(s) in the amount(s) listed below will be applied to your account and will be considered to be paid on the date you made the payment. 1a ____/____/_______ 2a ________________ Overpayment Amount Date of Payment Overpayment Amount Date of Payment Overpayment Amount Date of Payment $ / / $ / / $ / / $ / / $ / / $ / / B I filed my amended return after the extended due date of my original return. Complete Line 1b only if you checked box B, above. 1b Enter the date you filed this amended return. The date you enter is the date we will consider your credit to have been paid. 1b ____/____/_______ IL-1065-X Instructions (R-12/19) Page 7 of 7
Extracted from PDF file 2019-illinois-form-il-1065-x.pdf, last modified September 2019

More about the Illinois Form IL-1065-X Corporate Income Tax TY 2019

We last updated the Amended Partnership Replacement Tax Return (Includes Schedule B) in March 2020, so this is the latest version of Form IL-1065-X, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form IL-1065-X directly from TaxFormFinder. You can print other Illinois tax forms here.

Related Illinois Corporate Income Tax Forms:

TaxFormFinder has an additional 75 Illinois income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Illinois Form IL-1065-X.

Form Code Form Name
Form IL-1065 Partnership Replacement Tax Return (Includes Schedule B)
Form IL-1065-V Payment Voucher for Partnership Replacement Tax
Form IL-1065-X-V Payment Voucher for Amended Partnership Replacement Tax

Download all IL tax forms View all 76 Illinois Income Tax Forms


Form Sources:

Illinois usually releases forms for the current tax year between January and April. We last updated Illinois Form IL-1065-X from the Department of Revenue in March 2020.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Illinois Form IL-1065-X

We have a total of nine past-year versions of Form IL-1065-X in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form IL-1065-X

2019 IL-1065-X Instructions

2018 Form IL-1065-X

2017 IL-1065-X, Amended Partnership Replacement Tax Return

2017 Form IL-1065-X

2017 IL-1065-X, Amended Partnership Replacement Tax Return

2016 Form IL-1065-X

2016 IL-1065-X, Amended Partnership Replacement Tax Return

Amended Partnership Replacement Tax Return -includes Schedule B) 2015 Form IL-1065-X

2015 IL-1065-X, Amended Partnership Replacement Tax Return

2014 IL-1065-X, Amended Partnership Replacement Tax Return 2014 Form IL-1065-X

2014 IL-1065-X - Amended Partnership Replacement Tax Return


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