Music, welcome to the Illinois Department of Revenue form IL 941 Illinois withholding income tax return video series. In this video, we will cover the 2017 withholding income tax changes detailed in informational bulletin FY 2017 - 7. This includes the elimination of the annual filing frequency and annual payment schedule. We will briefly discuss the secure choice savings program compliance question. We will also cover the payroll data and p10 requirements. Please note that these changes went into effect on January 1st, 2017. Several changes have been made to Illinois withholding income tax for the 2017 tax year. Effective January 1st, 2017, all Illinois withholding income tax filers are required to file their Form IL 941 returns quarterly. The annual filing frequency is no longer available. Your Form IL 941 is due by the last day of the month that follows the end of the quarter. For each quarter, you must include all Illinois income tax withheld during the corresponding three months. Please note, if the due date falls on a holiday or weekend, the return is due on the next business day. In addition to the annual filing frequency eliminations, the annual payment schedule is also no longer available. If you are currently an annual payer, the Illinois Department of Revenue has notified you by letter of your assignment to either a semi-weekly or monthly payment schedule for 2017. If you are a monthly payer and withhold over $12,000 in a quarter, you will be required to submit your payments electronically on a semi-weekly basis beginning the following quarter. For more information, see publication 131 withholding income tax payment and filing requirements. The publication can be found at tax.illinois.gov. A hyperlink to publication 131 can be found in the video description below. Your payment due dates are determined by the payment...
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