Cancelling Scheduled Tax Payment
To cancel your Illinois estimated tax payments, send a written request to the Illinois Department of Revenue. Include your name, address, Social Security number, and the tax year. Estimated tax payments can also be adjusted by changing your withholding allowances. You may owe penalties if estimated payments are late or insufficient.
Amended Returns Process
An e-filed return cannot be canceled or changed. You can file an amended return on paper using Form 1040X. This form is used to change filing status, income, deductions, or credits. Amended returns are available on the IRS website. If you owe more taxes, you must file an amended return. Once you e-file or mail your return, it cannot be canceled. If the IRS does not accept it, you can change it and resubmit.
Closing Illinois Tax Accounts
Closing Illinois Tax Account
How do I close my Illinois tax account? You cannot cancel your EIN. However, send a letter to the IRS to close your account. Explain the reason and include corporation name, structure, address, and EIN.
Closing Sales Tax Permit
To close your sales tax permit in Illinois, use the MyTax Illinois portal, contact the state at 217-785-3707, or complete the request form. Before closing, check for any trailing nexus period. If you don’t close the account, you must still collect sales tax and file returns. Auditors may create assessments for missing filings.
Dissolving LLC in Illinois
To dissolve an LLC in Illinois, follow the operating agreement. Close business tax accounts and file articles of dissolution. To dissolve an S corp, contact the Secretary of State office.
Additional Information
MyTax Illinois offers free online filing of returns, payments, and account management. It was developed for secure tax filing and account viewing. Sales tax rate in Illinois is 6.25%. Online sellers must collect sales tax too. Penalties apply for late or missing payments. Please reach out if you need help. This post provides information, not legal advice.