Illinois Income Tax Filing and Payment Extension

Please note that this blog is based on laws effective March 26, 2020 and may not contain later amendments. Please contact Cray Kaiser for most recent information.

Illinois taxpayers received welcome relief on March 25 as Illinois largely followed the Internal Revenue Service guidance on the April 15, 2020 tax deadline.

The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Illinois income taxes on April 15, 2020 are automatically extended until July 15, 2020. This automatic relief applies to all individual returns, trusts, and corporations. These taxpayers will automatically avoid interest and penalties on any taxes due that are paid by July 15, 2020. Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020, same as payments due to the Internal Revenue Service.

Note: This does NOT impact the first and second installments of Illinois estimated payments for 2020 taxes that are due April 15 and June 15. Taxpayers are required to estimate their tax liability for the year and submit quarterly installments as normal. 

Further guidance from the IRS regarding the federal tax filing extension:


CK OFFICE OPERATIONS

These are certainly trying times and we want to reiterate that Cray Kaiser is here for you. As things continue to evolve in light of the COVID-19 pandemic, we at CK are taking additional precautions for the benefit of our team members and our clients.

Effective immediately:

CK PORTAL ACCESS

We want to remind our clients of our portal access and your ability to safely and securely share your information with our team. We ask that you email efile@craykaiser.com to request your portal access. This will eliminate the need for you to drop off your tax information at our office.

MOVING FORWARD

Thank you for your patience and understanding during this challenging time. We wish you, your family, and your business health and safety. We will continue to support you as best as we can while keeping each other’s health a priority. If any changes occur during the course of the next few days, we will update our website.

Click here to read more COVID-19 resources.

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