86 Ill. Adm. Code 100.7320 — Time for Filing Returns and Making Payments for Taxes Required to Be Withheld Prior to January 1, 2008 (IITA Section 704)

# Time for Filing Returns and Making Payments for Taxes Required to Be Withheld Prior to January 1, 2008 (IITA Section 704)

TITLE 86: REVENUE CHAPTER I: DEPARTMENT OF REVENUE PART 100 INCOME TAX SECTION 100.7320 TIME FOR FILING RETURNS AND MAKING PAYMENTS FOR TAXES REQUIRED TO BE WITHHELD PRIOR TO JANUARY 1, 2008 (IITA SECTION 704)

Section 100.7320 Time for Filing Returns and Making Payments for Taxes Required to Be Withheld Prior to January 1, 2008 (IITA Section 704)

a) Quarterly return. Each return required under Section 100.7300(a) shall be filed on or before the last day of the first calendar month following the calendar quarter for which the return is made.

b) Quarter-monthly tax payments. Quarter-monthly periods end on the 7th, 15th, 22nd, and last day of each month. Quarter-monthly forms required under Section 100.7300(c)(1) shall be filed on or before the third banking day following the close of the quarter-monthly period. Whenever a quarter-monthly payment is due that includes amounts withheld in a prior calendar quarter, separate quarter-monthly forms must be submitted. See the note in the example in subsection (d).

c) Monthly tax payments. Monthly returns and payments required by Section 100.7300(c)(2) shall be made on or before the 15th day of the second and third months of each calendar quarter for amounts withheld during the first and second months of the quarter, respectively, and on or before the due date prescribed in subsection (a) for filing the return for the quarter for amounts withheld during the third month of the quarter. (See IITA Section 704(c).)

d) Example. The provisions of this Section with respect to taxes required to be withheld prior to January 1, 2008 can be partially illustrated as follows: Withholding Period Amount Withheld Amount of Payment/Due Date Feb. 1-7 $ 900 Add to next period Feb. 8-15 900 $1,800 by Feb. 18* Feb. 16-22 1,010 $1,010 by Feb. 25* Feb. 23-28 900 Add to next period Mar. 1-7 0 $900 by Mar. 15* Mar. 8-15 600 Add to next period Mar. 16-22 600 $1,200 by Mar. 25* Mar. 23-31 400 Add to next period Apr. 1-7 800 $1,200 by Apr. 10* NOTE: separate IL-501s must be used; one to report the $400 withheld for the last quarter-monthly period of March, and the other to report the $800 withheld for the first quarter-monthly period of April. Apr. 8-15 700 Add to next period Apr. 16-22 200 Add to next period April 23-30 0 $900 to next period May 1-7 110 $1,010 by May 10* * With Form IL-501 (employee withholding). Form IL-941 (employee withholding) due April 30.

e) Extension of time for filing returns. An extension of time for filing the statements and returns required to be filed under this subsection shall be granted upon approval of a similar extension granted by the Internal Revenue Service (but in no event to exceed six months) for filing the federal statements. The extension shall be for the same period as granted by the Internal Revenue Service and shall be granted by the Department upon submission of a copy of the federal application and approval of an extension. (Source: Amended at 32 Ill. Reg. 17492, effective October 24, 2008)

Section 100.7320 Time for Filing Returns and Making Payments for Taxes Required to Be Withheld Prior to January 1, 2008 (IITA Section 704)

a) Quarterly return. Each return required under Section 100.7300(a) shall be filed on or before the last day of the first calendar month following the calendar quarter for which the return is made.

b) Quarter-monthly tax payments. Quarter-monthly periods end on the 7th, 15th, 22nd, and last day of each month. Quarter-monthly forms required under Section 100.7300(c)(1) shall be filed on or before the third banking day following the close of the quarter-monthly period. Whenever a quarter-monthly payment is due that includes amounts withheld in a prior calendar quarter, separate quarter-monthly forms must be submitted. See the note in the example in subsection (d).

c) Monthly tax payments. Monthly returns and payments required by Section 100.7300(c)(2) shall be made on or before the 15th day of the second and third months of each calendar quarter for amounts withheld during the first and second months of the quarter, respectively, and on or before the due date prescribed in subsection (a) for filing the return for the quarter for amounts withheld during the third month of the quarter. (See IITA Section 704(c).)

d) Example. The provisions of this Section with respect to taxes required to be withheld prior to January 1, 2008 can be partially illustrated as follows:

Withholding Period

Amount Withheld

Amount of Payment/Due Date

Feb. 1-7

$ 900

Add to next period

Feb. 8-15

900

$1,800 by Feb. 18*

Feb. 16-22

1,010

$1,010 by Feb. 25*

Feb. 23-28

900

Add to next period

Mar. 1-7

0

$900 by Mar. 15*

Mar. 8-15

600

Add to next period

Mar. 16-22

600

$1,200 by Mar. 25*

Mar. 23-31

400

Add to next period

Apr. 1-7

800

$1,200 by Apr. 10*

NOTE: separate IL-501s must be used; one to report the $400 withheld for the last quarter-monthly period of March, and the other to report the $800 withheld for the first quarter-monthly period of April.

Apr. 8-15

700

Add to next period

Apr. 16-22

200

Add to next period

April 23-30

0

$900 to next period

May 1-7

110

$1,010 by May 10*

* With Form IL-501 (employee withholding).

Form IL-941 (employee withholding) due April 30.

e) Extension of time for filing returns. An extension of time for filing the statements and returns required to be filed under this subsection shall be granted upon approval of a similar extension granted by the Internal Revenue Service (but in no event to exceed six months) for filing the federal statements. The extension shall be for the same period as granted by the Internal Revenue Service and shall be granted by the Department upon submission of a copy of the federal application and approval of an extension.

# Source

Amended at 32 Ill. Reg. 17492, effective October 24, 2008)