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Do I need to file my Form IL-1041 if it shows a net loss?

Answer #859 -- ( Published 02/20/2018 09:30 AM | Updated 02/20/2018 11:53 AM )

Do I need to file my Form IL-1041 if it shows a net loss?

If you are required to file an Illinois return (see “Who must file Form IL-1041?”), the return must be filed in a timely manner, regardless of net income or loss. If the loss return calculates an overpayment for which you expect to receive a refund or request a credit carry forward, you must file the loss return within 3 years of the extended due date of the loss return to receive a refund or credit carry forward.

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