Instructions for Schedule 1299-D Income Tax Credits (For Corporations and Fiduciaries) - Illinois

This document contains official instructions for Schedule 1299-D , Income Tax Credits (For Corporations and Fiduciaries) - a form released and collected by the Illinois Department of Revenue.

FAQ

Q: What is Schedule 1299-D?
A: Schedule 1299-D is a form used for reporting income tax credits for corporations and fiduciaries in Illinois.

Q: Who needs to file Schedule 1299-D?
A: Corporations and fiduciaries in Illinois who have income tax credits that they want to claim.

Q: What types of income tax credits can be reported on Schedule 1299-D?
A: Schedule 1299-D can be used to report various income tax credits, such as the Economic Development for a Growing Economy (EDGE) credit and the Research and Development Credit.

Q: Is Schedule 1299-D the only form needed to file income tax credits?
A: No, Schedule 1299-D is an attachment to the Illinois Income and Replacement Tax Return (Form IL-1120) for corporations or Form IL-1041 for fiduciaries.

Q: Are there any specific instructions for completing Schedule 1299-D?
A: Yes, the Illinois Department of Revenue provides specific instructions and guidelines for completing Schedule 1299-D.

Q: When is the deadline for filing Schedule 1299-D?
A: The deadline for filing Schedule 1299-D is usually the same as the deadline for filing the Illinois Income and Replacement Tax Return (Form IL-1120 or IL-1041), which is typically April 15th.

Q: Can I electronically file Schedule 1299-D?
A: Yes, electronic filing is available for Schedule 1299-D.

Q: What happens if I don't file Schedule 1299-D?
A: If you have income tax credits that you want to claim and you fail to file Schedule 1299-D, you may not be able to take advantage of those credits.