Illinois DOR Releases Income Tax Form IL-W-4, Employee’s Withholding Allowance Worksheet, With Instructions

The Illinois Department of Revenue (DOR) July 1 released Form IL-W-4, Employee’s Illinois Withholding Allowance Certificate and Instructions, for corporate income and individual income tax purposes. The certificate requires the name, address, and Social Security number of the taxpayer completing the form. The instructions include information about: 1) who must complete the form and when it should be submitted; 2) when does the form take effect; 3) how long the form is valid; 4) how to avoid underpaying the tax and owing a penalty; and 5) how to figure the correct number of allowances. The DOR clarifies that an employee ...