Important Changes to Illinois Business Tax Payment Forms for 2019

This has got to be the most self-referential blog post I’ve ever written. But the whole reason I started my blog in the first place was to create an easily-searchable resource to store the research I regularly perform for clients, as well as a one-stop reference location for important announcements I receive from the various tax and licensing agencies or professional organizations with whom I work. It was just a place I could store these items to make my own future searches easier — it was meant for my own use, with no idea it would become both popular and award-winning. (Thanks to all of you!)

In any case, today I was calculating quarterly estimated tax payments for an Illinois S-Corporation’s replacement tax for 2019 (which are pre-payments made toward the annual return total due — the same as quarterly estimated taxes for individuals, but these are voluntary), and I remembered that the old form had changed… and yet I couldn’t find an obvious hit when I googled what that replacement form was. But: I remembered that I’d blogged about it!

I couldn’t find the post after scrolling back through every post from yesterday through September 2018 and thought I was losing my mind. My husband taught me a neat google search trick:

“IL-516-B” site:thedancingaccountant.com

This means that I want google to look for my search term (the old tax form name), but only within my website. It worked! Turned out they posted this news for 2019 back in July of 2018, which is why I couldn’t find it when I looked back through my posts — I just didn’t go back far enough.

Anyway, here’s the post: Important Changes to Illinois Business Tax Payment Forms On 1/1/19 | The Dancing Accountant

And the jist is that the form is now specific to the type of entity, not the type of payment. So S-Corp pre-payments will use the same form they would use if it were a balance due payment or an extension payment. Done!

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