2022 IL-1120 Instructions - Illinois Department of Revenue-2025

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The document is the 2022 Form IL-1120, a Corporation Income and Replacement Tax Return for the Illinois Department of Revenue. It provides instructions for corporations to report their income, calculate taxes owed, and submit necessary documentation. The form includes sections for identifying the corporation, detailing income or loss, calculating base income, and determining net income and taxes after credits. It also outlines requirements for attachments and payment submission.

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Click ‘Get Form’ to open the 2022 IL-1120 Instructions in our editor.
Begin by entering your corporation's legal name and FEIN in the designated fields. If applicable, check the box for a name change.
Fill in your mailing address and indicate if this is your first return or if there has been an address change.
Proceed to Step 2, where you will calculate your income or loss. Enter figures from your federal return as instructed.
Continue through Steps 3 to 8, ensuring all calculations are accurate. Use our platform’s tools to easily navigate between sections.
Finally, review all entries for accuracy before signing the form electronically within our editor.

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Where to file form IL-1120?

If a payment is enclosed with your return, mail your Form IL-1120 to: ILLINOIS DEPARTMENT OF REVENUE. PO BOX 19038. SPRINGFIELD IL 62794-9038. If a payment is not enclosed, mail your Form IL-1120 to: ILLINOIS DEPARTMENT OF REVENUE. PO BOX 19048. SPRINGFIELD IL 62794-9048.

What is the statute of limitations on corporate taxes in Illinois?

The statute of limitations for nonpayment of Illinois franchise tax is 7 years after the state sends the corporation a written notice of proceedings to: dissolve the corporation; or. revoke its certificate of authority to transact business in the state.

Does Illinois automatically extend with federal?

If you have an approved Federal tax extension (IRS Form 4868), you will automatically receive an Illinois tax extension. However, if you owe Illinois tax, it must still be paid by the original due date.

What is the extended filing deadline?

More In File If you need more time to file your taxes, request an extension by the April tax filing due date. This gives you until October 15 to file without penalties. Make sure you pay any tax you owe by the April filing date.

Is the IL-1120 ST extended?

IL-1120-ST returns are due the 15th day of the third month following close of the tax year. There is an automatic seven month extension of time to file the return. For both IL corporate and S corp returns, the following applies: No extension form is required to be submitted to extend the due date for filing the return.

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What is the schedule J for IL-1120?

The purpose of Schedule J is to allow you to claim a subtraction on your Form IL-1120 for dividends received from a foreign corporation. A foreign corporation is any corporation not created or organized under the laws of the United States or any state or political subdivision thereof.

What is form IL-1120-ST?

The Illinois Form IL-1120-ST is a tax return for small business corporations. It must be submitted by the 15th day of the third month following the tax year end.