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IL-2220 Instructions (R-12/23)
Step 3: Figure your unpaid tax - all taxpayers
17 Enter your total net income and replacement tax, surcharge, and pass-through withholding you owed
and reported on behalf of your members, and pass-through entity tax you owed. See instructions. 17 ____________ 00
18 a Enter the total amount of all payments made on or before the original due date of your
tax return. Include credit(s) carried forward from a prior year (see instructions); total
estimated payments, prepayments, extension payments or annual payments made
with your tax return; pass-through withholding reported on your behalf; pass-through
entity tax credit, and withholding shown on your W-2G or 1099 forms. 18a ____________ 00
b Forms IL-1120, IL-1120-ST, and IL-1065 lers:
Enter the total of all Columns, Line 12. All others, enter zero. 18b ____________ 00
Enter the greater of Line 18a or Line 18b here. 18 ____________ 00
19 Subtract Line 18 from Line 17. If this amount is
—positive, enter that amount here. Continue to Step 4 and enter this amount in
Penalty Worksheet 2, Line 23, Column C.
—zero or negative, enter that amount here and, if negative, use brackets. 19 ____________ 00
Step 4: Figure your late-payment penalty
Use Penalty Worksheet 1 to gure your late-payment penalty for underpayment of estimated tax.
Use Penalty Worksheet 2 to gure your late-payment penalty for underpaid tax.
You must follow the instructions in order to properly complete the penalty worksheets.
20 Enter the amount and the date of each payment you made. Include any credit(s) carried forward from a prior year. See instructions.
Amount Date paid Amount Date paid Amount Date paid
a ____________ _ _/_ _/_ _ _ _ e ____________ _ _/_ _/_ _ _ _ i ____________ _ _/_ _/_ _ _ _
b ____________ _ _/_ _/_ _ _ _ f ____________ _ _/_ _/_ _ _ _ j ____________ _ _/_ _/_ _ _ _
c ____________ _ _/_ _/_ _ __ g ____________ _ _/_ _/_ _ _ _ k ____________ _ _/_ _/_ _ _ _
d ____________ _ _/_ _/_ _ _ _ h ____________ _ _/_ _/_ _ _ _ l ____________ _ _/_ _/_ _ _ _
Number of days late Penalty rate
1 - 30 .............................02
31 or more ........................10
Penalty Worksheet 1 — Late-payment penalty for underpayment of estimated tax - (Form IL-1120 lers
and Forms IL-1120-ST and IL-1065 lers who elect to pay pass-through entity (PTE) tax)
If you paid the required amount from Line 16 by the payment due date on Line 11 for each quarter, do not complete this worksheet.
21 Enter the unpaid amounts from Line 16, Quarters 1 through 4, on the rst line of the appropriate quarters in Column C below.
A B C D E F G H I
Due Unpaid Payment Balance due Payment No. of Penalty rate
Period date amount applied (Col. C - Col. D) date days late (see above) Penalty
Qtr. 1 _ _/_ _/_ _ _ _ __________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
__________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
__________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
Qtr. 2 _ _/_ _/_ _ _ _ __________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
__________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
__________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
Qtr. 3 _ _/_ _/_ _ _ _ __________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
__________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
__________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
Qtr. 4 _ _/_ _/_ _ _ _ __________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
__________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
__________ __________ __________ _ _/_ _/_ _ _ _ _____ __________ ______
22 Add Column I, Quarters 1 through 4. This is your late-payment penalty for underpayment of estimated tax.
Enter the total amount here and on Form IL-1120, Step 8, Line 59; Form IL-1120-ST, Step 8, Line 63;
or Form IL-1065, Step 8, Line 63. . 22 __________
You may apply any remaining overpayment from the 4th quarter in Column E above to any underpayment when guring
Penalty Worksheet 2, only if the payment date shown in the 4th quarter of Column F is after the original due date of the return.
Penalty Worksheet 2 — Late-payment penalty for unpaid tax
23 Enter any positive amount from Line 19 on the rst line of Column C below.
A B C D E F G H I
Due Unpaid Payment Balance due Payment No. of Penalty rate
date amount applied (Col. C - Col. D) date days late (see above) Penalty
Return _ _/_ _/_ _ _ _ __________ __________ __________ _ _/_ _/_ _ _ _ _____ _____ __________
__________ __________ __________ _ _/_ _/_ _ _ _ _____ _____ __________
__________ __________ __________ _ _/_ _/_ _ _ _ _____ _____ __________
__________ __________ __________ _ _/_ _/_ _ _ _ _____ _____ __________
24 Add Column I. This is your late-payment penalty for unpaid tax.
Enter the total amount here and on Step 5, Line 28. 24 ___________
(200 x .10 = 20.00)
(122 x .10 = 12.20)
(422 x .10 = 42.20)
(216 x .10 = 21.60)
(34 x .02 = .68)
(300 x .10 = 30.00)
(88 x .10 = 8.80)
(187 x .10 = 18.70)
Calculations
1875
1688
187
Example
300 09 04 2024
04 15 2024 187 0 187 .10 18.70
100
04 17
2023
200 06 19 2023
750
09 15
2023
250 12 19 2023
04 17 2023 422 100 322 04 17 2023 0 0 0.00
322 200 122 06 19 2023 63 .10 20.00
122 750 (628) 09 15 2023 151 .10 12.20
06 15 2023 422 628 (206) 09 15 2023 92 .10 42.20
09 15 2023 422 206 216 09 15 2023 0 0 0.00
216 250 (34) 12 19 2023 95 .10 21.60
12 15 2023 422 34 388 12 19 2023 4 .02 .68
388 300 88 09 04 2024 264 .10 30.00
88 0 88 .10 8.80
135.48
1300
1688
18.70
Penalty rates
ABC Corporation’s total Illinois net income and replacement tax and surcharge is $1,875, as shown on its 2023 Form IL-1120, Step 8,
Line 58. The 2022 tax was $2,600. The corporation led Form IL-1120 and paid $300 with the return on September 4, 2024.
The corporation made the following estimated payments:
$100 4-17-23 $200 6-19-23 $750 9-15-23 $250 12-19-23