What's New for the 2014 Tax Season
What's new for the 2014 tax season includes highlights of changes that have occurred as well as important reference information. For more detail concerning these changes, please see the What’s New Bulletin
About This Tax Season
We are taking additional steps to protect YOU the taxpayer from identity theft and fraud. These additional measures will mean processing time for your return and your refund will be slightly longer. Please be patient with us. We are taking these steps on your behalf to ensure that your refund gets to you and not someone pretending to be you.
Although forms, schedules, and instructions for the 2014 Illinois Income Tax season are available now on our website, we encourage you to wait for the electronic filing options to become available. Even with the delay in availability, you will still get your refund faster if you file electronically.
- Form IL-1023-C and Form IL-1000 have been eliminated. Certain forms and schedules have been redesigned to accommodate the elimination of these forms. Additional schedules have been developed to assist in calculating pass-through withholding under the new law and the Form IL-516-I and Form IL-516-B allow you to voluntarily prepay your own tax liability or make voluntary pass-through withholding prepayments on behalf of your nonresident members.
- The $100,000 limitation on the use of Illinois net loss deduction (NLD) has expired for tax years ending on or after December 31, 2014.
- Taxpayers can now apply an overpayment against their estimated tax obligations even if the return is filed after the extended due date.
- Avoid Common Filing Mistakes for Business and Withholding Income Tax
- Avoid Common Filing Mistakes for Sales and Other Related Taxes
- Substitute or reproduced paper forms must be submitted and approved through our Forms Approval Program prior to use. See the Guidelines for Substitute Tax Forms.
- If you are required to electronically submit copies of your employees' 2014 W-2 forms to us, you must submit them by February 17, 2015. Since the actual due date of February 15, 2015, falls on a weekend with a state holiday on the following Monday, the due date was adjusted to the next business day.
- See the Tax Professionals page for more information.