Instructions for Form IL-1065 Partnership Replacement Tax Return - Illinois

This document contains official instructions for Form IL-1065 , Partnership Replacement Tax Return - a form released and collected by the Illinois Department of Revenue.

FAQ

Q: What is Form IL-1065?
A: Form IL-1065 is the Partnership Replacement Tax Return for Illinois.

Q: Who needs to file Form IL-1065?
A: Partnerships in Illinois need to file Form IL-1065.

Q: What is the purpose of Form IL-1065?
A: Form IL-1065 is used to report partnership income, deductions, and tax liability to the state of Illinois.

Q: When is Form IL-1065 due?
A: Form IL-1065 is due on the 15th day of the 4th month after the end of the partnership's tax year.

Q: Are there any penalties for filing Form IL-1065 late?
A: Yes, there are penalties for filing Form IL-1065 late. It is important to file the return and pay any tax owed by the due date to avoid penalties and interest.

Q: What are some common schedules and forms that are required to be filed with Form IL-1065?
A: Some common schedules and forms that may be required to be filed with Form IL-1065 include Schedule B, Schedule D, Schedule J, and Schedule M.

Q: Is estimated tax payment required for partnerships in Illinois?
A: Yes, partnerships in Illinois are generally required to make estimated tax payments.