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Do I need to file my IL-1120 if it shows a net loss?

Answer #87 -- ( Published 08/04/2005 02:45 PM | Updated 07/12/2017 10:38 AM )

Do I need to file my IL-1120 if it shows a net loss?

If you are required to file an Illinois return (see “Who must file Form IL-1120?”), the return must be filed in a timely manner, regardless of net income or loss. If carrying the loss from the loss year return to another tax year will result in a refund, you must file the loss year return within 3 years of the extended due date of the loss year's tax return.

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