Instructions for Form IL-1120 Schedule INS Tax for Foreign Insurers - Illinois

Form IL-1120 Schedule INS Tax for Foreign Insurers - Illinois

This document contains official instructions for Form IL-1120 Schedule INS, Tax for Foreign Insurers - a form released and collected by the Illinois Department of Revenue. An up-to-date fillable Form IL-1120 Schedule INS is available for download through this link.

FAQ

Q: What is Form IL-1120 Schedule INS?
A: Form IL-1120 Schedule INS is a tax form for foreign insurers in Illinois.

Q: Who needs to file Form IL-1120 Schedule INS?
A: Foreign insurers operating in Illinois need to file Form IL-1120 Schedule INS.

Q: What is the purpose of Form IL-1120 Schedule INS?
A: The purpose of Form IL-1120 Schedule INS is to report and calculate the tax liability for foreign insurers in Illinois.

Q: Are there any specific requirements for completing Form IL-1120 Schedule INS?
A: Yes, there are specific requirements for completing Form IL-1120 Schedule INS. You should refer to the instructions provided with the form for detailed guidance.

Q: When is the deadline to file Form IL-1120 Schedule INS?
A: The deadline to file Form IL-1120 Schedule INS is usually the same as the deadline for filing the annual Illinois income tax return, which is generally set on the 15th day of the 4th month after the close of the tax year.

Q: Can Form IL-1120 Schedule INS be e-filed?
A: Yes, Form IL-1120 Schedule INS can be e-filed. You may choose to file electronically or by mail.

Q: What happens if I don't file Form IL-1120 Schedule INS?
A: If you are required to file Form IL-1120 Schedule INS and fail to do so, you may face penalties and interest charges imposed by the Illinois Department of Revenue.

Q: Is Form IL-1120 Schedule INS only for foreign insurers?
A: Yes, Form IL-1120 Schedule INS is specifically for foreign insurers operating in Illinois. Other types of businesses have different tax forms to file.