Illinois DOR Releases 2021 Individual Income Tax Form IL-505-I, Automatic Extension Payment

The Illinois Department of Revenue Dec. 1, 2021 released 2021 Form IL-505-I, Automatic Extension Payment, and instructions, for individual income taxpayers filing Form IL-1040. Form IL-505-I provides taxpayers who are unable to file their tax return by the due date a way to calculate and remit their tentative tax liability on or before the original due date. The instructions include information on: 1) automatic and additional extensions; 2) late payment, late filing, and bad check penalties; 3) interest; 4) electronic payment options; and 5) how to complete the tax payment worksheet. [Ill. Dep’t of Revenue, Form IL-505-I, Automatic Extension Payment, ...