Illinois DOR Issues Instructions for 2020 Form IL-990-T, Exempt Organization Income, Replacement Tax Return

The Illinois Department of Revenue Jan. 1 issued the instructions for 2020 Form IL-990-T, Exempt Organization Income and Replacement Tax Return, for corporate income, individual income, and trust income tax purposes. The instructions include worksheets and provide information on: 1) changes to the instructions, including a note regarding federal Paycheck Protection Program (PPP) loans; 2) what taxpayers must file the form; 3) how to register a business; 4) filing and payment deadlines and automatic extensions; and 5) electronic filing, penalties, and interest. [Ill. Dep’t of Revenue, Form IL-990-T Instructions, 01/01/21]

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