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  • 2017 Form Il-516-i And Form Il-516-b, Pass-through Prepayment Vouchers

Get 2017 Form Il-516-i And Form Il-516-b, Pass-through Prepayment Vouchers

Form IL516I 2017 Reminders to avoid processing delays: If you pay electronically, do not mail Form IL516I. Ensure the amount written on Step 7, Line 1, is the amount you are paying with Form IL516I.

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How to fill out the 2017 Form IL-516-I And Form IL-516-B, Pass-through Prepayment Vouchers online

Filling out the 2017 Form IL-516-I and Form IL-516-B is a straightforward process designed for individuals and estates making prepayments. This guide provides clear, step-by-step instructions to help users navigate the forms online effectively.

Follow the steps to complete the forms accurately.

  1. Click the ‘Get Form’ button to access the form and open it in your preferred editor.
  2. Begin by entering your federal employer identification number (FEIN) at the specified section of the form.
  3. Provide your full name, and if applicable, include C/O information in the designated field. Next, input your complete mailing address and phone number.
  4. Specify the month and year when your tax year ends. This information is critical for accurate processing.
  5. Clearly state the amount you are paying on the form, ensuring to use whole dollars only.
  6. Detach the voucher section from the form. Prepare a check or money order for the payment amount you've indicated, and ensure it contains your FEIN, tax year ending, and ‘Form IL-516-I’ written on the payment.
  7. Make your check or money order payable to ‘Illinois Department of Revenue’.
  8. Finally, mail the completed voucher along with your payment to the address provided on the voucher, ensuring that it is sent to the Illinois Department of Revenue, PO Box 19017, Springfield, IL 62794-9017.

Complete your forms online today to ensure timely processing and avoid delays.

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Illinois also has a 9.50 percent corporate income tax rate. Illinois has a 6.25 percent state sales tax rate, a 4.75 percent max local sales tax rate, and an average combined state and local sales tax rate of 8.82 percent. Illinois's tax system ranks 36th overall on our 2023 State Business Tax Climate Index.

The deduction for personal and dependency exemptions is repealed for tax years beginning in 2018 through 2025. However, the rules for determining who is a dependent of the taxpayer remain applicable during these tax years for claiming other tax benefits (for example, child tax credit).

○ Personal Exemption — Effective for tax years beginning on or after January 1, 2023, the personal exemption allowance for individuals will increase to $2,625 per person.

The due date for filing your 2022 Form IL-1040 and paying any tax you owe is April 18, 2023. The Illinois income tax rate is 4.95 percent (.0495). The personal exemption amount for tax year 2022 is $2,425.

What is the Illinois exemption allowance? The standard personal exemption is calculated using the basic exemption amount of $2,050 plus the cost-of-living adjustment. For tax year beginning January 1, 2022, it is $2,425 per exemption.

Form IL-516-B is used to. • voluntarily prepay your own estimated tax liability, and. • voluntarily prepay pass-through withholding on behalf of your partnership or S corporation, nonresident trust, and corporation members.

But next year's bump is one of the biggest yet. The standard deduction is increasing by $900 to $13,850 for singles in 2023 and by $1,800 to $27,700 for couples.

Pass-through withholding payments and pass-through entity (PTE) tax. S corporations, partnerships, and trusts are required to make Illinois Income Tax payments on behalf of nonresident shareholders, partners, and beneficiaries.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232