Illinois 1st quarter estimated tax payments remain due April 15, additional calculation method added.
The Illinois Department of Revenue (IDR) announced Friday, April 3, that 2020 first quarter estimated tax payments remain due on April 15, 2020. The department added a third method taxpayers can use to calculate their estimated tax payments and avoid underpayment penalties. In addition to using their estimated 2020 tax liability or their actual 2019 tax liability, taxpayers can now use their actual 2018 tax liability to calculate their 2020 estimated tax payments.
Read the complete informational bulletin from the IDR. Or, for more information contact a Dugan & Lopatka professional at email@example.com or (630) 665-4440.