Illinois DOR Publishes Revised Information on Withholding Income Tax Payments, Filing Requirements

The Illinois Department of Revenue Jan. 1 published information on withholding income tax payment and filing requirements for individual income and corporate income tax purposes. The publication provides: 1) general information regarding the electronic reporting and payment of Illinois income tax withholding using Forms IL-941 and IL-501; 2) the method for computing the payment amount; 3) descriptions of the payment and return schedules; and 4) Form IL-941 quarterly return filing due dates for 2024. The publication also mentions that taxpayers must file Form IL-941 even if no tax was withheld during the reporting period and make a payment based on ...