artp Posted February 27, 2011 Report Posted February 27, 2011 Looking thru the IL 2220 instructions I do not see a prior year's tax exception for corporations like there is for federal 2220. Is this correct ? I have a small corporate client that generally has less the $ 400 tax liablity in IL, but expects next year to be much higher. How can we protect against underpayment penalities if there is no prior year tax exception and our estimates for 2011 turn out to be understated ? I know you can use annualization, but short of that is there anything else we can do ? Art Quote
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