Get Il Il-1040-es 2016

The IL IL-1040-ES form is essential for individuals who expect to owe Illinois state taxes exceeding $500. This guide provides clear, step-by-step instructions for completing the form online, ensuring that users can easily navigate the process.

Follow the steps to complete the IL IL-1040-ES online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Enter your expected Illinois base income for the tax year in Line 1 of the Estimated Tax Worksheet, referencing Form IL-1040.
3. Calculate your expected exemption allowance in Line 2. Include the total number of exemptions and any additional considerations for age or blindness.
4. Subtract Line 2 from Line 1 to determine your net income expected for the year in Line 3.
5. Multiply Line 3 by 3.75% to estimate your tax liability and enter this amount in Line 4.
6. Input any expected surcharges associated with the Compassionate Use of Medical Cannabis Pilot Program Act in Line 5.
7. Add Lines 4 and 5, and place the total in Line 6.
8. Enter the estimated amount of tax withheld or pass-through payments expected in Line 7.
9. Note any credits expected in Line 8, including property tax and education expenses.
10. Add Lines 7 and 8 to calculate your total credits, and enter this on Line 9.
11. Subtract Line 9 from Line 6, entering the result on Line 10 to find your required estimated tax payment.
12. If your estimated tax is more than $500, divide the amount on Line 10 by 4 for your quarterly payments and round to whole dollars in Line 11.
13. Review the information completed. Once satisfied, you can save changes, download, print, or share the completed form.

Start filling out your IL IL-1040-ES form online today to ensure timely and accurate tax payments.