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If the taxpayer does not file a return within 30 days after receiving a notice of nonfiling the DOR will assess an additional penalty equal to the greater of $250 or 2% of the tax shown due on the return without regard to timely payments. The additional penalty will not exceed $5,000.
You must file an Illinois tax return if: You were required to file a federal return, or. You were not required to file a federal return but your Illinois income exceeds your exemption allowance.
Income Exemption Allowance for Illinois Illinois does not have a standard or itemized deduction; instead, it offers a personal exemption of $2,375 for the 2021 tax year.
If you have a corporation that (1) has net income or loss, or (2) is qualified to conduct business in the state of Illinois, you will need to file Form IL-1120.
Taxpayers who fail to pay state taxes owed to the State of Illinois will incur interest charges. The DOR assesses interest the day after the taxpayers payment due date until the date the taxpayer pays the tax. Interest is simple interest using a daily rate that the state updates twice a year (1/1 and 7/1).
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People also ask

If you earn income in one state while living in another, you should expect to file a tax return for the state where you are living (your resident state). You may also be required to file a state tax return where your employer is located or any state where you have a source of income.
What is the Illinois property tax rebate? Illinois residents who paid state property taxes last year on their primary 2020 residence are eligible for the rebate if their adjusted gross income on their 2021 Form IL-1040 is under $250,000. (For couples filing jointly, the cap is $500,000.)
If you are required to file a federal tax return, you are required to file an Illinois tax return, even if you owe nothing.
Nonresidents must file an Illinois income tax return and Schedule NR if: the nonresident earned enough taxable income from state sources to have tax liability; or. the nonresident can a claim refund of Illinois income tax that was withheld in error.
It Is All About Domicile Illinois residents pay Illinois taxes. Arizona residents pay less income tax and Florida residents pay no income tax. But while you can live in more than one state during any given year, you can only be a resident of one state for tax purposes.

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