How can I best help my partners and shareholders comply with Illinois filing requirements?

Answer #688 -- ( Published 07/10/2007 10:53 AM | Updated 01/09/2013 2:02 PM )

File an IL-1000, Pass-through Entity Payment Income Tax Return for your non-resident partners and shareholders or File an IL-1023-C, Composite Income and Replacement Tax Return, for your nonresident individual partners and shareholders.
Complete an Illinois Schedule K-1-P for each partner or shareholder.
Mail the completed Schedule K-1-P in a timely manner. Be sure to include a copy of Schedule K-1-P(2).
You may wish to include a letter from the partnership informing them that income shown on Schedule K-1-P indicates that they must file an Illinois Income Tax return.
If your partners or shareholders contact you with questions you cannot answer, refer them to the Illinois Department of Revenue or their tax professional. All tax forms are available on our website.

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