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Illinois Free Printable 2019 IL-990-T-X Instructions for 2020 Illinois Amended Exempt Organization Income and Replacement Tax Return

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Amended Exempt Organization Income and Replacement Tax Return
2019 IL-990-T-X Instructions

Illinois Department of Revenue IL-990-T-X Instructions Use for tax years ending on or after December 31, 2019 and 31, 2020. before December 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 101-545 changes the definition of base income of an exempt organization. See Specific Instructions for more 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. General Information Who must file Form IL-990-T-X? You should file Form IL-990-T-X if you are amending a previously filed, processable Form IL-990-T, Exempt Organization Income and 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-990-T 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-990-T-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. 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-990-T-X is being filed to report a state or federal change. State change - If your change decreases the tax due to Illinois and you are entitled to an overpayment, you must file Form IL-990-T-X within • three years after the due date of the return (including extensions), • three years after the date your original return was filed, or • 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-990-T-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, either by paying a refund, or by final IL-990-T-X Instructions (R-02/20) assessment, 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 an overpayment, you must file Form IL-990-T-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-990-T-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-990-T-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 federal adjustments? If you are amending your original Form IL-990-T due to 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, you amend your federal Form 990-T and receive federal finalization on October 22, 2020, then you must submit one Form IL-990-T-X for the July 10, 2020, adjustments and a separate Form IL-990-T-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. Who should sign the return? If you are a corporation, your Form IL-990-T-X must be signed by the president, vice president, treasurer, 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 corporation. If you are a trust, Form IL-990-T-X must be signed by a fiduciary of the trust. If there are two or more joint fiduciaries, the signature of one will comply with the requirements Printed by the authority of the State of Illinois - web only, one copy Page 1 of 7 of the IITA. The signature verifies by written declaration (and under penalties of perjury) that the signing individual has personally examined the return and the return is true, correct, and complete. The fact that an individual’s name is signed to a return is prima facie evidence that the individual is authorized to sign the return on behalf of the taxpayer. Any person paid to prepare the return (other than an authorized officer, fiduciary, or a person who is a regular 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 documentation when requested may result in a referral to our Audit Bureau for compliance action. Exempt organizations must complete Form IL-990-T-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 a 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-990-T-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-990-T-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 federal refund check • your audit report from the IRS • your federal transcript verifying your federal taxable income If you are filing Form IL-990-T-X because • you filed an amended federal return and your tax due to Illinois decreases, you must attach proof of the federal finalization date, include 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. Page 2 of 7 • 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 990-T onto your Form IL-990-T, you must include a copy of your federal Form 990-T. • 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 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). • of changes, other than those described above, see Form IL-990-T Instructions and any schedules for the year you are changing to determine what attachments you must provide. Where should I file? Mail your Form IL-990-T-X to: ILLINOIS DEPARTMENT OF REVENUE PO BOX 19016 SPRINGFIELD IL 62794-9016 Should I round? You must round the dollar amounts on Form IL-990-T-X 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. 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. IL-990-T-X Instructions (R-02/20) Specific Instructions For instructions regarding completion of Steps 1 through 5, refer to the Form IL-990-T 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-990-T-X. Step 1: Identify your exempt organization 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 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. D — 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. E — 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. F — Enter your entire federal employer identification number (FEIN). G — 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. H — Check the box if you are taxed as a corporation. I — Check the box if you are taxed as a trust. J — If you are entitled to take income tax credits on Step 5, Line 24, you must check the box on Line J, and attach Illinois Schedule 1299-D to your tax return, even if you are unable to use any of the credits in this tax year. Explain the changes on this return The purpose of this area is to allow you to explain the 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, • credit or credit recapture amounts, 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 36 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 2 through 5 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-990-T or a previously amended or audited return. IL-990-T-X Instructions (R-02/20) Column B — Enter the correct amount for each line in Column B. For each line item you change, you must provide an explanation for that change in the “Explain the changes on this return” area. Step 2: Figure your base income or loss Lines 1 — Enter the amount of unrelated business taxable income or loss from U.S. Form 990-T, Line 39. This entry is the unrelated business taxable income or loss after deducting income exempt from tax by reason of the United States or Illinois Constitutions, or by reason of law, statute, or treaties of the United States. Attach a worksheet explaining the source and amount of any such deduction. Lines 2 and 3 — RESERVED. Line 4 — You must add back any amount of Illinois Income and Replacement taxes and surcharge that you deducted on your U.S. Form 990-T to arrive at your federal unrelated business taxable income. Line 5 — Follow the instructions on the form. 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 or you are an Illinois resident trust; and • you do not have any income or loss to report on Lines 6 or 12. If you check the box on Line A, do not complete Step 3, Column B. All of your amended base income or loss is allocable to Illinois. Skip Step 3, Column B, enter the amount from Step 2, Column B, Line 5 on Step 4, Column B, Line 14, 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 6 or 12. If you check the box on Line B, you must complete all lines of Step 3, Column B. Submitting Form IL-990-T-X with an incomplete Step 3, Column B, including Lines 8, 9, and 10 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 3 for more information. Step 3: Figure your income allocable to Illinois Complete Step 3 only if you originally completed this step, or you need to make a change that affects your base income or loss allocable to Illinois. Refer to Form IL-990-T, Step 3, Specific Instructions, for the year being amended. You must check the box on Line B and complete Step 3 if any portion of Column B, Line 5, base income or loss, is derived outside Illinois, or you have any income or loss to report on Column B, Lines 6 or 12. If you do not complete all of Step 3, Column B, Lines 6 through 13, 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. Page 3 of 7 Step 4: Figure your net replacement tax Follow the instructions on the form. Be sure to attach any required schedules or forms. Line 16 — 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 18 — 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. Step 5: Figure your net income tax Line 21 — The income tax rate is 7 percent (.07) for corporations and 4.95 percent (0.0495) for trusts. Multiply the amount on Line 20 by 7 percent (.07) if you are organized as a corporation or by 4.95 percent (0.0495) if you are organized as a trust and enter the amount on Line 21. Line 22 — See Illinois Schedule 4255 for more information regarding the recapture of investment credits. You must attach Illinois Schedule 4255 if you have an amount on this line. Line 24 — See Illinois Schedule 1299-D for more information regarding income tax credits. If you have an amount on this line, check the box in Step 1, Line J and attach Illinois Schedule 1299-D and any other required support listed on Schedule 1299-D. Step 6: Figure your refund or balance due Line 28 — Compassionate Use of Medical Cannabis Program Act surcharge. Use the instructions and the Surcharge Worksheet in the Form IL-990-T instructions to figure your surcharge. Line 29 — Sale of assets by gaming licensee surcharge. Use the instructions and the Surcharge Worksheet in the Form IL-990-T instructions to figure your surcharge. Line 31a — 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 31b — Enter the sum of the following, not including any penalty and interest previously paid: • estimated payments or tax prepayments made during the tax year, • extension payments, • any tax payments you made with a previously filed Form IL-990-T-X, and • any other payments made prior to the date this amended return is filed (e.g., responding to a bill). Line 31c — 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 31c. Attach copies of the Schedules K-1-P and K-1-T you received from the pass-through entities to your Form IL-990-T. See “What are pass-through withholding payments?” under “General Information” in the Form IL-990-T instructions for more information. Line 31d — Enter the total amount of Illinois gambling withholding. Attach Forms W-2G. Line 33 — 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 34 — Enter the total amount of any overpayment, credit, or refund (whether received or not) reported on your previously filed Form IL-990-T or Form IL-990-T-X. Do not include any interest that you received. Page 4 of 7 Line 38— 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? Different dates apply to the examples given below depending on if you file as a corporation or trust. Only read the section of the following instructions that apply to your filing type. Corporations and 501(c) trusts only (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. 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 (May 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 (May 15, 2020, for calendar-year filers), but is before the original filing and payment due date of the 2020 tax year (May 17, 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 May 29, 2021, requesting to receive your overpayment as a credit. May 29, 2021, is after the original filing and payment due date of the 2020 tax year (May 17, 2021, for calendaryear filers), but is before the original filing and payment due date of the 2021 tax year (May 16, 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 Pages 6 and 7 if you require assistance determining the year to which your credit will apply. IL-990-T-X Instructions (R-02/20) 401(a) trusts only (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. 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 23, 2021, requesting to receive your overpayment as a credit. April 23, 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 Pages 6 and 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? Different dates apply to the examples given below depending on if you file as a corporation or trust. Only read the section of the following instructions that apply to your filing type. Corporations and 501(c) trusts only (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 (December 15, 2020, for calendar-year filers), your credit is considered to be paid on the original due date of your original return (May 15, 2020, for calendar-year filers). 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 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 May 15, 2020. IL-990-T-X Instructions (R-02/20) 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 May 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 19, 2020, requesting $500 be applied as a credit. Your credit of $500 will be considered to be paid on December 19, 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 Pages 7 and 8 if you require assistance determining with what date your credit will apply. 401(a) trusts only (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). 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 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. 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 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 Pages 6 and 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 this return. Page 5 of 7 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 39 — 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 40— 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. We will apply all payments against tax first, penalty second, and interest third. If you have a balance due on Line 40, be sure to enter the amount you are paying on the top of Page 1 of the Form IL-990-T-X. Complete a payment voucher, Form IL-990-T-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 7: 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. 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: • Corporations and 501(c) trusts only - A calendar-year filer, filing an amended return on March 1, 2020 (which falls before May 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. • 401(a) trusts only - 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. 2b Enter the ending date of the next full tax year for which a payment made on the date entered 1b ____/____/_______ 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: Corporations and 501(c) trusts only • A calendar-year filer, filing an amended return on August 4, 2020 (which falls after May 15, 2020, the original filing and payment due date for the 2019 tax year, but before May 17, 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 May 29, 2021 (which falls after May 17, 2021, the original filing and payment due date for the 2020 tax year, but before May 16, 2022, the original filing and payment due date for the 2021 tax year), would enter 12/31/2021 on Line 2b. 401(a) trusts only • 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 23, 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. Page 6 of 7 IL-990-T-X Instructions (R-02/20) Credit Carryforward Worksheet (continued) 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 other 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 this 2019 original return. 2a Enter the total amount of your overpayment from payments made on or before the date 1a ____/____/_______ entered on Line 1a. A credit in this amount will be applied to your account with the date entered on Line 1a. 2a ________________ 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. 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. IL-990-T-X Instructions (R-02/20) 1b ____/____/_______ Page 7 of 7
Extracted from PDF file 2019-illinois-form-il-990-t-x.pdf, last modified February 2020

More about the Illinois Form IL-990-T-X Corporate Income Tax TY 2019

We last updated the Amended Exempt Organization Income and Replacement Tax Return in March 2020, so this is the latest version of Form IL-990-T-X, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form IL-990-T-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-990-T-X.

Form Code Form Name
Form IL-990-T Exempt Organization Income and Replacement Tax Return
Form IL-990-T-V Payment Voucher for Exempt Organization Income and Replacement Tax
Form IL-990-T-X-V Payment Voucher for Amended Exempt Organization Income and 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-990-T-X from the Department of Revenue in March 2020.

Show Sources >

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-990-T-X

We have a total of eight past-year versions of Form IL-990-T-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-990-T-X

2019 IL-990-T-X Instructions

2018 Form IL-990-T-X

2018 IL-990-T-X Amended Exempt Organization Income and Replacement Tax Return

2016 Form IL-990-T-X

2016 IL-990-T-X, Amended Exempt Organization Income and Replacement Tax Return

2014 IL-990-T-X 2014 Form IL-990-T-X

2014 IL-990-T-X, Amended Exempt Organization Income and Replacement Tax Return

Amended Exempt Organization Income and Replacement Tax Return 2013 Form IL-990-T-X

2013 IL-990-T-X


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