INCOME TAX CHANGES
How lengthy do I need to file an Illinois amended individual money taxes return to report a federal change?
Directions state which : Should you are changing a Illinois return due to a change to a federal return, never file this shape till we get notice which the IRS has accepted the changes.
I am amending my 2003 taxes plus i am told i need to do this in 3 years ?
Answer by Mr Tax Preparer
Hello, timbo! The IL-1040-X instructions (connected below) state which the three-year limit applies whenever there is a state-only change which results inside a return. Should you understand which we owe more taxes about a before year return, you need to “pay the taxes, penalty, plus interest because shortly because we understand that it must be owed.”
However, because it sounds like you may be additionally amending the federal return, the instructions provide we 2 choices in regards to the state return:
1) if the federal change INCREASES a Illinois taxes, you need to file IL-1040-X plus pay inside 120 days of getting the IRS verification of the federal change
2) when the federal change DECREASES the Illinois taxes, “you need to file IL-1040-X “… in 2 years and 120 days of federal finalization.”
It sounds to me like the “2 years and 120 days” trumps the additional 3 year deadline. However to be secure, I might very suggest phoning the IL Dept of Revenue at 800-732-8866; explain the condition plus ask them how the limits apply. Great chance!
Answer by WitchTwo
In my experience they provide a year longer than the feds, thats thus which the amended return to the IRS has time to be accepted. I usually send inside both simultaneously. CA refuses to have the qualification which ILL does. Wait till we get see within the IRS then send inside the ILL return.