Chicago Illinois Form 1120-C 2024-2025

Chicago Illinois Form 1120-C: What You Should Know

You may be eligible to file an Illinois personal income tax return if you meet all of these requirements. Tax Return Filing Requirements for Cooperative Organizations The following requirements apply to Illinois cooperative income tax return filers: To obtain an Illinois tax return on Form 1120-C (U.S. income tax return) for a calendar year beginning on or after January 1, 2019, you must use Form 1120-C-SF (Form 1120-C for corporations filed for fiscal year ending December 2018) or Form 1120-C-S (Form 1120-C for small entities filed for fiscal year ending December 2017) (the deadline for filing is April 15 of the next calendar year after the year for which the return is being filed). If you are filing Form 1120-C-SF, you must first file a Form 1120-C-S with the Chicago office within 60 days after the end of the tax year for which you are filing the return. Each return must be accompanied by a completed and signed Form 1120-C-S. The Chicago office must provide the following services when filing Form 1120-C-SF: Provide photocopies of original documents, including tax returns and other required documents. Give a return or other required document, with its signature and date, to a tax return preparer who will complete the return. Perform the required number of photocopies. Make copies of any documents, including returns, and other required documents, for your records. Give a copy of Form 1120-C-SF to the IRS, but must sign and date the return and do not be responsible for the return. You need to know: The tax year ending on the day the return is filed; The amount of money the filing cooperative made from all cooperative assets for the purpose of filing the return; Whether the return is for a calendar year ending on the last day of the taxable year or fiscal year; Whether one or more tax years of the return apply to anyone tax year; and How much the return includes tax paid from cooperative assets (including any amount paid from individual cooperative assets). If you have questions about Form 1120-C-SF, call the Chicago office at or use our online assistance link. If you do not call or have questions on how to apply for the Illinois return, visit the Illinois Department of Revenue website and use our online assistance link for filing information.

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