Illinois DOR Issues Guidelines on Corporation Income and Replacement Tax Return Filing

The Illinois Department of Revenue (IDOR) July 1 issued guidelines on filing Form IL-1120, Corporation Income and Replacement Tax Return, stating that it must be filed by corporations with net income or loss as defined under the Illinois Income Tax Act (IITA), or those qualified to do business in Illinois and required to file a federal income tax return. The due date for this form varies based on the tax year end date, with automatic extensions of time to file the annual return granted for tax years ending on or after Dec. 31, 2021, and for tax years beginning on ...