Form IL-1120-V Payment Voucher for Corporation Income and Replacement Tax - Illinois

What Is Form IL-1120-V?

This is a legal form that was released by the Illinois Department of Revenue - a government authority operating within Illinois. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form IL-1120-V?A: Form IL-1120-V is a payment voucher for corporations to remit income and replacement tax to the state of Illinois.

Q: Who needs to use Form IL-1120-V?A: Corporations in Illinois who are required to pay income and replacement tax must use Form IL-1120-V.

Q: What is the purpose of Form IL-1120-V?A: The purpose of Form IL-1120-V is to provide a voucher that corporations can use to accompany their tax payment.

Q: When is Form IL-1120-V due?A: Form IL-1120-V is typically due on the same day as the Illinois corporation income tax return, usually on or before the 15th day of the 3rd month following the close of the tax year.

Q: How should I fill out Form IL-1120-V?A: You should carefully enter your corporation's name, address, tax year, and payment details such as the amount owed and check number.

Q: Are there any payment penalties if I don't use Form IL-1120-V?A: There may be penalties for late or underpayment of taxes, but not specifically for not using Form IL-1120-V. It is important to pay on time and use the correct payment method.