Form Il 8453 is a document used to report the sale or exchange of a capital asset. The form must be completed and filed with the IRS within 30 days of the sale or exchange. Failure to file may result in fines and penalties. The form is used to calculate your capital gains and losses, which are then taxable income. Completing this form accurately is essential to ensuring you pay the correct amount of tax on your profits. For more information on Form Il 8453, consult a tax professional.
| Question | Answer |
|---|---|
| Form Name | Form Il 8453 |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | il 8453 form 2020, IDOR, 2018 il 8453, IL-1040 |
Illinois Department of Revenue
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Submission ID
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(Do not mail Form
Step 1: Provide taxpayer information
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First name and middle initial |
Spouse’s first name (and last name if different) |
Last name |
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Social Security number |
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type Mailing address |
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Spouse’s Social Security number |
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Daytime phone number |
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Step 2: Complete information from tax return |
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Net income from Form |
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Tax from Form |
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Illinois Income Tax withheld from Form |
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Overpayment from Form |
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Total amount due from Form |
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6Filing status: ___ Single/head of household ___ Married filing jointly ___ Married filing separately ___ Widowed
Step 3: Complete direct deposit of refund or electronic funds withdrawal information (Optional)
To initiate a payment or refund transaction, the information in this Step must be included within the electronic transmission. Illinois does not support international ACH transactions. IDOR will only perform direct transactions (I.E., debit, deposit) with financial institutions located within the United States or those not funded by international funds. Electronic payments will not be accepted and refunds will be via paper check.
7Routing no. (RN): ___ ___ ___ ___ ___ ___ ___ ___ ___
8Account no. (AN): ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___
9Type of account: ___ Checking ___ Savings
10Date the payment is to be electronically withdrawn: ___/___/______
11Electronic funds withdrawal amount:
12Name on account: ____________________________________________________________________________________________
Step 4: Taxpayer declaration and signature (Sign only after Step 2 and Step 3 (if applicable) is completed.)
I consent that my refund may be directly deposited as designated in Step 3 and declare the information on lines 7 through 9 is correct. If I have filed a joint return, this is an irrevocable appointment of the other spouse as an agent to receive the refund.
I authorize the Illinois Department of Revenue (IDOR) and its designated financial agent to initiate an ACH electronic funds withdrawal as designated in the electronic portion of my 2012 Illinois income tax return. I authorize the financial institutions involved in the processing of an electronic overpayment of taxes to receive confidential information necessary to answer inquiries and resolve issues related to the payment.
I do not want direct deposit of my refund, or an electronic funds withdrawal (direct debit) of my balance due.
Under penalties of perjury, I declare the information on my electronic
Sign here
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Your signature |
Date |
Spouse’s signature (if joint return, both must sign) |
Date |
Step 5: Electronic return originator (ERO) and paid preparer declaration and signature
I declare that I have examined this taxpayer’s electronic
ERO use only
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Check if paid preparer: |
(See instructions.) |
ERO’s signature |
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Firm’s name or your name if |
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Your Social Security number (SSN) or PTIN |
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Mailing address |
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Federal employer identification number (FEIN) |
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Phone number |
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Step 6: Attach required documents (e.g., Forms
Form
General Information
Form
EROs are required to retain all original
Where do I mail Form
ELECTRONIC COMMERCE DIVISION, ILLINOIS DEPARTMENT OF REVENUE, PO BOX 19479, SPRINGFIELD IL
What if I have questions?
If you have questions, write to the address above or call us weekdays at 217
Submission ID
The submission ID is a
Step 1: Provide taxpayer information
Print or type the taxpayer's name, mailing address, Social Security number (SSN) and daytime telephone number. Also, include the spouse's information (if applicable). Write the SSN(s) in the same
order as on the transmitted electronic
Note: All information on Form
Step 2: Complete information from tax return
(whole dollars only)
1Net income – Amount from Form
2Tax – Amount from Form
3Illinois Income Tax withheld – Amount from Form
4Overpayment – Amount from Form
5Total amount due – Amount from Form
6Filing status – Indicate the same filing status as transmitted on the electronic
Step 3: Complete direct deposit of refund or electronic funds withdrawal information
The taxpayer can choose to directly deposit a refund or have the amount of tax due automatically withdrawn from their checking or savings account. The taxpayer must provide the ERO with proof of account ownership (I.E., check or other financial institution statement that includes the routing number (RN), taxpayer’s name, and the account number (AN)). A deposit slip is not acceptable.
7The RN must be nine digits. The first two numbers must be 01 through 12 or 21 through 32.
8The AN may contain up to 17 alphanumeric characters. Include hyphens, but omit spaces and special symbols. Write the AN from the left, leaving any blank spaces at the right end.
9Check the type of account.
10 Date the taxpayer authorizes the payment to be electronically withdrawn.
11 Amount of payment the taxpayer authorizes to be electronically withdrawn.
12 Name on the checking or savings account.
Note: To initiate a payment or refund transaction, the information in this Step must be included within the electronic transmission.
Illinois does not support international ACH transactions. IDOR will only perform direct transactions (I.E., debit, deposit) with financial institu- tions located within the United States or those not funded by interna- tional funds. Electronic payments will not be accepted and refunds will be via paper check.
IDOR is not responsible if a financial institution rejects a direct deposit or electronic funds withdrawal transaction.
Some financial institutions
•may not allow a refund to be deposited into an account if the names on the account are not the same names that appear on the refund. If a direct deposit fails, a paper check will be automatically issued.
•do not allow electronic funds withdrawals from some types of savings accounts. If an electronic funds withdrawal fails, the taxpayer will receive a notice from IDOR that may include penalty and interest.
Step 4: Taxpayer declaration and signature
The taxpayer must check one of the boxes in Step 4, and sign Form
If the ERO changes the electronic
•the net income on Form
•the tax on Form
on Step 2, Line 3, the overpayment on Step 2, Line 4, or the total amount due on Step 2, Line 5, differ from the corresponding amount on the electronic
Step 5: Electronic return originator (ERO) and paid preparer declaration and signature
Form
Collector: If for the purpose of electronic filing, you collected but did not prepare the return, sign as the ERO and date the declaration. Complete the business’ information, including the FEIN and telephone number. In this case, no SSN or Preparer's Taxpayer Identification number (PTIN) is required.
Step 6: Required attachments
Attach to the front of Form
•"Copy 2" of all
Attach to the back of Form
•Form
Note: Substitute wage and tax statement forms 4852 (federal or Illinois) cannot be attached to Form
Form