Illinois Amended Corporation Income and Replacement Tax Return
Extracted from PDF file 2020-illinois-form-il-1120-x.pdf, last modified May 2020
Amended Corporation Income and Replacement Tax ReturnUse your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. Illinois Department of Revenue *33112201W* 2020 IL-1120-X Amended Corporation Income and Replacement Tax Return For tax years ending on or after December 31, 2020 Indicate what tax year you are amending: Tax year beginning month day year , ending month day year If you are filing an amended return for tax years ending before December 31, 2020, you may not use this form. For prior years, see instructions to determine the correct form to use. Enter the amount you are paying. $ M Enter your federal employer identification number (FEIN). Step 1: Identify your corporation A Enter your complete legal business name. N If you have a name change, check this box. Enter your North American Industry Classification System (NAICS) Code. See instructions. Name: O Enter your Illinois corporate file (charter) number. Enter your mailing address. B If you have an address change, check this box. C/O: Mailing address: City: State: ZIP: P Check the applicable box for the type of change being made. NLD State change Federal change If a federal change, check one: Partial agreed C Check the box and see the instructions if your business is a: Unitary Filer (Combined return) Foreign insurer D Check this box if you are filing this form only to report an increased net loss on Line 37, Column B. E If you have completed the following, check the box and attach the federal form(s) to this return, if you have not previously done so. Federal Form 8886 Federal Schedule M-3, Part II, Line 12 F Check this box if you attached Illinois Schedule UB. G Check this box if you attached the Subgroup Schedule. H Check this box if you attached Illinois Schedule 1299-D. I Check this box if you attached Form IL-4562. J Check this box if you attached Illinois Schedule M (for businesses). K Check this box if you attached Schedule 80/20. L Check this box if you are a 52/53 week filer. Finalized Enter the finalization date Attach your federal finalization to this return. Q Check this box if you are filing Form IL-1120-X on or before the extended due date and are making the election to treat all nonbusiness income as business income. R Check this box if you are making a discharge of indebtedness adjustment on Line 36 and attach federal Form 982 and a detailed statement. S If you are filing Schedule INL, check this box. T If you annualized your income on your Form IL-2220, check this box (IL-2220). U Check this box if your business activity is protected under Public Law 86-272. V Throwback adjustment - see instructions. W Double throwback adjustment - see instructions. X Check this box if your tax year began on or after January 1, 2021. Attach your payment and Form IL-1120-X-V here. Explain the changes on this return (Attach a separate sheet if necessary.): If you owe tax on Line 68, complete a payment voucher, Form IL-1120-X-V. Write your FEIN, tax year ending, and “IL-1120-X-V” on your check or money order and make it payable to “Illinois Department of Revenue.” Attach your voucher and payment to this page. Enter the amount of your payment on the top of this page in the space provided. Mail this return to: Illinois Department of Revenue, P.O. Box 19016, Springfield, IL 62794-9016 IL-1120-X (R-12/20) This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide information could result in a penalty. Page 1 of 4 *33112202W* A Step 2: Figure your income or loss 1 2 3 4 Federal taxable income from U.S. Form 1120. 00 Net operating loss deduction from U.S. Form 1120. 1 2 State, municipal, and other interest income excluded from Line 1. 3 00 5 6 7 8 9 Illinois Special Depreciation addition. Attach Form IL-4562. Illinois income and replacement tax and surcharge deducted in arriving at Line 1. 00 4 5 6 7 8 9 00 10 River Edge Redevelopment Zone Dividend subtraction. Attach Sch. 1299-B. 11 River Edge Redevelopment Zone Interest subtraction. Attach Sch. 1299-B. 12 High Impact Business Dividend subtraction. Attach Schedule 1299-B. 13 High Impact Business Interest subtraction. Attach Schedule 1299-B. 14 Contribution subtraction. Attach Schedule 1299-B. 15 Contributions to certain job training projects. 16 Foreign Dividend subtraction. Attach Schedule J. 17 Illinois Special Depreciation subtraction. Attach Form IL-4562. 18 Related-Party Expenses subtraction. Attach Schedule 80/20. 19 Distributive share of subtractions. Attach Schedule(s) K-1-P or K-1-T. 20 Other subtractions. Attach Schedule M (for businesses). 21 Total subtractions. Add Lines 10 through 21. 22 Base income or loss. Subtract Line 22 from Line 9. 23 00 Related-Party Expenses addition. Attach Schedule 80/20. Distributive share of additions. Attach Schedule(s) K-1-P or K-1-T. Other additions. Attach Illinois Schedule M (for businesses). Add Lines 1 through 8. This is your total income or loss. B As most recently reported or adjusted (Whole dollars only) 00 00 00 00 00 Corrected amount (Whole dollars only) 1 2 3 00 4 5 6 7 8 9 00 10 11 12 13 14 15 16 17 18 19 20 21 22 23 00 00 00 00 00 00 00 00 Step 3: Figure your base income or loss 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Interest income from U.S. Treasury and exempt federal obligations. 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 A If the amount on Line 23 is derived inside Illinois only, check this box and enter the amount from Step 3, Line 23 on Step 5, Line 35. You may not complete Step 4. (You must leave Step 4, Lines 24 through 34 blank.) If you are a unitary filer, do not check this box. Check the box on Line B and complete Step 4. B If any portion of the amount on Line 23 is derived outside Illinois, or you are a unitary filer, check this box and complete all lines of Step 4. (Do not leave Lines 28 through 30 blank.) See instructions. Step 4: Figure your income allocable to Illinois (Complete only if you checked the box on Line B, above.) 00 24 Nonbusiness income or loss. Attach Schedule NB. 24 24 25 Business income or loss included in Line 23 from non-unitary partnerships, partnerships included on a Schedule UB, S corporations, trusts, or estates. See instructions. 26 Add Lines 24 and 25. 25 26 Business income or loss. Subtract Line 26 from Line 23. 27 Total sales everywhere. This amount cannot be negative. 28 Total sales inside Illinois. This amount cannot be negative. 29 Apportionment factor. Divide Line 29 by Line 28. Round to six decimal places. 30 00 00 31 32 Nonbusiness income or loss allocable to Illinois. Attach Schedule NB. 32 33 Business income or loss apportionable to Illinois from non-unitary 00 27 28 29 30 31 Business income or loss apportionable to Illinois. Multiply Line 27 by Line 30. partnerships, partnerships included on a Schedule UB, S corporations, trusts, or estates. See instructions. 00 00 00 00 33 00 34 Base income or loss allocable to Illinois. Add Lines 31 through 33. 34 00 Page 2 of 4 00 25 26 27 28 29 30 00 00 31 32 00 33 34 00 00 00 00 00 00 IL-1120-X (R-12/20) *33112203W* A Step 5: Figure your net income 35 Base income or net loss from Step 3, Line 23 or Step 4, Line 34. 36 Discharge of indebtedness adjustment. Attach U.S. Form 982. 37 Adjusted base income or net loss. Add Lines 35 and 36. 38 Illinois net loss deduction. If Line 37 is zero or negative, enter zero. Check this box and attach a detailed statement if you have merged losses. 39 Net income. Subtract Line 38 from Line 37. B Corrected amount As most recently reported or adjusted 35 36 37 38 00 35 00 36 00 37 00 38 00 00 00 00 39 00 39 00 00 40 00 41 00 42 00 43 00 44 00 00 00 00 00 00 00 00 00 00 45 46 47 48 49 00 00 00 00 00 00 50 Replacement tax before reductions. Enter the amount from Line 44. 50 00 51 Foreign Insurer replacement tax reduction. Attach Schedule INS or UB/INS. 51 00 52 Subtract Line 51 from Line 50. This is your net replacement tax. 52 00 53 Net income tax before reductions. Enter the amount from Line 49. 53 00 54 Foreign Insurer income tax reduction. Attach Schedule INS or UB/INS. 54 00 55 Subtract Line 54 from Line 53. This is your net income tax. 55 00 56 Compassionate Use of Medical Cannabis Program Act surcharge. See instructions. 56 00 57 Sale of assets by gaming licensee surcharge. See instructions. 57 58 Total net income and replacement taxes and surcharges. 00 Add Lines 52, 55, 56, and 57. 58 59 Payments. See instructions. a Credits from previous overpayments. b Total payments made before the date this amended return is filed. c Pass-through withholding reported to you. Attach Schedule(s) K-1-P or K-1-T. d Illinois gambling withholding. Attach Form(s) W-2G. 60 Total payments. Add Lines 59a through 59d. 61 Previously paid penalty and interest. See instructions. 62 Total amount of overpayment (including any carryforward or refund) before the filing of this return for the year being amended. See instructions. 63 Add lines 61 and 62. 64 Net tax paid. Subtract Line 63 from Line 60. 65 Overpayment. If Line 64 is greater than Line 58, subtract Line 58 from Line 64. 66 Amount of overpayment from Line 65 to be credited forward. See instructions. Check this box and attach a detailed statement if this carryforward is going to a different FEIN. 67 Refund. Subtract Line 66 from Line 65. This is the amount to be refunded. 68 Tax due with this amended return. If Line 58 is greater than Line 64, subtract Line 64 from Line 58. You will be sent a bill for any additional penalty and interest due. 50 51 52 53 54 55 56 57 00 00 00 00 00 00 00 00 58 00 59a 59b 59c 59d 60 61 00 00 00 00 00 00 62 63 64 65 66 00 00 00 00 00 67 68 00 00 Step 6: Figure your replacement tax after credits 40 41 42 43 44 Replacement tax. Multiply Line 39 by 2.5% (.025). 40 Recapture of investment credits. Attach Schedule 4255. 41 Replacement tax before credits. Add Lines 40 and 41. 42 Investment credits. Attach Form IL-477. 43 Replacement tax after credits. Subtract Line 43 from Line 42. If negative, enter zero. 4 4 Step 7: Figure your income tax after credits 45 46 47 48 49 Income Tax. See Instructions. 45 Recapture of investment credits. Attach Schedule 4255. 46 Income tax before credits. Add Lines 45 and 46. 47 Income tax credits. Attach Schedule 1299-D. 48 Income tax after credits. Subtract Line 48 from Line 47. If negative, enter zero. 49 Step 8: Figure your refund or balance due Step 9: Sign below - Under penalties of perjury, I state that I have examined this return and, to the best of my knowledge, it is true, correct, and complete. Check if the Department Sign ( ) may discuss this return with the Here Signature of authorized officer Paid Preparer Use Only Date (mm/dd/yyyy) Print/Type paid preparer’s name paid preparer shown in this step. Phone Title Date (mm/dd/yyyy) Paid preparer’s signature Check if self-employed Paid Preparer’s PTIN Firm’s name Firm’s FEIN Firm’s address Firm’s phone IL-1120-X (R-12/20) Printed by the authority of the State of Illinois - web only, 1 copy Reset Print ( ) Page 3 of 4 Attach supporting documents to your Form IL-1120-X. *ZZZZZZZZZ* If you completed: Attach: Form IL-1120-X Step 1, Line C (unitary) only U.S. 1120-X, and U.S.1139 or federal RAR (if applicable) Schedule UB/Subgroup Schedule Check the box on Form IL-1120-X, Step 1, Line F/G Step 1, Line C (foreign insurer) only Schedule INS Step 1, Line C (unitary) and (foreign insurer) Schedule UB/Subgroup Schedule and Schedule UB/INS Check the box on Form IL-1120-X, Step 1, Line F/G Step 1, Line E Federal Form 8886 or Federal Schedule M-3 (as applicable) Step 1, Line R Federal Form 982 Step 1, Line S Schedule INL Step 1, Line T Schedule 2220 Lines 5 and 18 Form IL-4562 Special Depreciation addition Check the box on Form IL-1120-X, Step 1, Line I Special Depreciation subtraction Lines 6 and 19 Schedule 80/20 Related-Party Expenses addition Check the box on Form IL-1120-X, Step 1, Line K Related-Party Expenses subtraction Lines 7 and 20 Schedule(s) K-1-P or K-1-T Distributive share of additions Distributive share of subtractions Lines 8 and 21 Schedule M and any required support listed on Schedule M Other additions Check the box on Form IL-1120-X, Step 1, Line J Other subtractions Lines 11 through 15 Schedule 1299-B and any required support listed on Schedule River Edge Redevelopment Zone 1299-B Dividend subtraction River Edge Redevelopment Zone Interest subtraction High Impact Business Dividend subtraction High Impact Business Interest subtraction Contributions subtraction Line 17 Foreign Dividend subtraction Illinois Schedule J, and U.S. 1120, Schedule C or equivalent Lines 24 and 32 Schedule NB Nonbusiness income or loss Nonbusiness income or loss allocable to Illinois Lines 25 and 33 Schedule(s) K-1-P or K-1-T Business income or loss from non-unitary partnerships, partnerships included on a Schedule UB, S corporations, trusts, or estates Business income or loss apportionable to Illinois from non-unitary partnerships, partnerships included on a Schedule UB, S corporations, trusts, or estates Line 36 Discharge of indebtedness adjustment Lines 41 and 46 Recapture of investment credit Line 43 Investment credits Line 48 Income tax credits Lines 51 and 54 Foreign Insurer tax reduction Line 59c Pass-through withholding reported to you Line 59d Illinois gambling withholding Federal Form 982 Check the box on Form IL-1120-X, Step 1, Line R Schedule 4255 Form IL-477 and any required support listed on Form IL-477 Schedule 1299-D and any required support listed in the Schedule 1299-D instructions or Schedule 1299-I Check the box on Form IL-1120-X, Step 1, Line H Schedule INS or Schedule UB/INS (for unitary filers) Check the box on Form IL-1120-X, Step 1, Line C All Schedules K-1-P and K-1-T you received showing pass-through withholding Copies of all Forms W-2G **Failure to attach the required documents may result in the disallowance of the corresponding line item.** IL-1120-X (R-12/20) Page 4 of 4
2017 IL-1120-X, Amended Corporation Income and Replacement Tax Return
More about the Illinois Form IL-1120-X Corporate Income Tax TY 2020
We last updated the Amended Corporation Income and Replacement Tax Return in February 2021, so this is the latest version of Form IL-1120-X, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form IL-1120-X directly from TaxFormFinder. You can print other Illinois tax forms here.
Related Illinois Corporate Income Tax Forms:
|Form Code||Form Name|
|Form IL-1120-ST-V||Payment Voucher for Small Business Corporation Replacement Tax|
|Form IL-1120||Corporation Income and Replacement Tax Return|
|Form IL-1120-ST||Small Business Corporation Replacement Tax Return (Includes Schedule B)|
|Form IL-1120-V||Payment Voucher for Corporation Income and Replacement Tax|
|Form IL-1120-ST-X||Amended Small Business Corporation Replacement Tax Return - Includes Schedule B)|
|Form IL-1120-ST-X-V||Payment Voucher for Amended Small Business Corporation Replacement Tax|
|Form IL-1120-X-V||Payment Voucher for Amended Corporation Income and Replacement Tax|
|Form IL-1120-ES||Estimated Income and Replacement Tax Payments for Corporations|
Illinois usually releases forms for the current tax year between January and April. We last updated Illinois Form IL-1120-X from the Department of Revenue in February 2021.
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-1120-X
We have a total of nine past-year versions of Form IL-1120-X in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2017 IL-1120-X, Amended Corporation Income and Replacement Tax Return
2019 IL-1120-X, Amended Corporation Income and Replacement Tax Return
2017 IL-1120-X, Amended Corporation Income and Replacement Tax Return
2016 IL-1120-X, Amended Corporation Income and Replacement Tax Return
2015 IL-1120-X, Amended Corporation Income and Replacement Tax Return
2014 IL-1120-X - Amended Corporation Income and Replacement Tax Return
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.