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Category: Illinois
31 Articles
Orange arrow How Do I Receive Credit for Taxes Paid to a State Other Than Illinois?

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  What is the purpose of Schedule CR? Schedule CR, Credit for Tax Paid to Other States, allows you to take a credit for income taxes you paid to other states on income you received while a resident of Illinois. You are allowed this credit only if you filed a required tax return with the other state. ...
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Orange arrow How Do I Amend My Illinois State Tax Return?

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  You should file Form IL-1040-X, Amended Individual Income Tax Return, if you need to change a previously filed Form IL-1040, Individual Income Tax Return, due to a change that affects items used to figure your Illinois net income or credits. Your change can occur from a state change or a federal c...
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Orange arrow What Categories Fall Under Illinois Other Subtractions?

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  Other Subtractions to Income Include: Contributions you made to "Bright Start" and "Bright Directions" College Savings Pools and "College Illinois" Prepaid Tuition Program Distributive share of subtractions from a partnership, S corporation, trust, or estate Restoration of amounts he...
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Orange arrow What Are Some Examples of Retirement Income That is Not Taxable in Illinois?

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  Federally taxed Social Security benefits and certain retirement plans are not taxable to IL. You may subtract most retirement income if it is included in Form IL-1040, Line 1. This includes income from: Qualified employee benefit plans (including railroad retirement and 401(K) plans) Ind...
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Orange arrow How Do I Obtain My Illinois Property Index Number?

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  You must enter your property number exactly as it appears on your property tax bill or assessment notice. Your property number is found near the top of your property tax bill or assessment notice. If your property taxes are paid through your mortgage, you may contact your lender for your property ...
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Orange arrow Illinois Payment Options

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  --Check or money order (follow the payment instructions on the form or voucher associated with your filing) --Use your MasterCard, Discover, American Express, or Visa to pay your Individual Income Tax. The credit card service provider will assess a convenience fee. https://www2.illinois.gov/re...
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Orange arrow What States Have a Reciprocal Agreement with Illinois?

934 views
  An Illinois resident who worked in Iowa, Kentucky, Michigan, or Wisconsin, you must file Form IL-1040 and include as Illinois income any compensation you received from an employer in these states. Compensation paid to Illinois residents working in these states is taxed by Illinois. Based on recipro...
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Orange arrow What are the options for Illinois Contributions or Donations?

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  Schedule G, Voluntary Charitable Donations, allows you to figure the amount of donations that you wish to make to one or more of the eligible funds. You may contribute any whole-dollar amount of $1 or more. Once you designate the funds to which you wish to contribute and the amount of your contrib...
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Orange arrow Illinois Economic Development for a Growing Economy (EDGE) Tax Credit

1170 views
  The Economic Development for a Growing Economy (EDGE) Tax Credit has been extended to June 30, 2022. Economic Development for a Growing Economy withholding tax credit (EDGE) - The EDGE credit is applied to the first liability of the tax year following the Certificate of Verification year and is a...
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Orange arrow What is the Illinois Enterprise Zone or River Edge Redevelopment Zone Investment Credit?

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  You may take this credit if you: - Placed qualified property in service in an Illinois enterprise zone or river edge redevelopment zone within the tax year, - Placed the qualified property in service on or after the date the zone was officially designated as an enterprise zone or river edge redevel...
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Orange arrow What is the Illinois TECH-PREP Youth Vocational Programs Credit?

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  You may take this credit if you are primarily engaged in manufacturing, and you have direct payroll expenses for qualifying cooperative secondary school youth vocational programs in Illinois, or you pay for personal services performed by a TECH-PREP student or instructor who would be subject to...
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Orange arrow Illinois Farming Income

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  Check the box on line 33a if at least two-thirds of your total federal gross income came from farming. Total federal gross income includes your spouse’s income if your filing status is “married filing jointly.” TIP: Federal gross income from farming “Federal gross income f...
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Orange arrow How can I use my Illinois unused credit carry forward?

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  “Unused credit carryforward” is any credit amount that you earned in a previous year, less any credit that you applied to unpaid tax in following tax years, less any credit that has expired. For example, if you earned a Dependent Care Assistance Program Credit in 2016 in the amount of $...
Posted in: States, Illinois

Orange arrow What States Have a Reciprocal Agreement with Illinois?

1470 views
  An Illinois resident who worked in Iowa, Kentucky, Michigan, or Wisconsin, you must file Form IL-1040 and include as Illinois income any compensation you received from an employer in these states. Compensation paid to Illinois residents working in these states is taxed by Illinois. Based on recipro...
Posted in: States, Illinois

Orange arrow Who Must File an Illinois Tax Return?

1190 views
  If you were an Illinois resident, you must file Form IL-1040 if you were required to file a federal income tax return, or you were not required to file a federal income tax return, but your Illinois base income from Line 9 is greater than your Illinois exemption allowance. an Illinois res...
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