Illinois Tax Form 1040 Schedule IL-WIT

What Is Schedule IL-WIT Form?

Schedule IL-WIT is the Illinois Withholding Income Schedule. If any Illinois income tax has been withheld from you throughout the year, then you must complete and submit the form. This includes income tax withheld from salaries, retirement benefits, pensions, and so on. 

Importance of filing Schedule IL-WIT

Filing your Illinois Schedule IL-WIT accurately is crucial, as it impacts the tax refund you may receive or the amount you may owe. The withholding amounts are considered ‘prepayments’ of tax liability. If too much was held, you may get a refund. Conversely, if insufficient amounts were withheld, you may owe additional tax on filing. 

How to Fill Out the Illinois Schedule IL WIT

Completing the schedule IL-WIT form might seem daunting at first. But don't fret! This step-by-step guide will simplify the process of how to fill it out:

1. Begin by accessing the PDF of the Illinois Tax Form 1040 Schedule IL-WIT on the PDFliner website.
2. Locate section 1 where you need to enter your personal details. Provide your full name as it is displayed on Form IL-1040.
3. Proceed to input your Social Security Number in the succeeding field on the form.
4. Proceed to Section 2. Here, you need to tally all of your income from your W-2 and 1099 forms. If you have multiple forms, add together the Illinois withholding from each form.
5. Enter the total withholding amount in the box labeled 'Your Total Illinois Withholding.' This box is the sum of all Illinois withholding amounts from your W-2 and 1099 forms.
6. Fill out 'Provide Spouse’s Withholding Records' if you are filing jointly. Similar to your own income, tally the Illinois withholding from your spouse's W-2 and 1099 forms and enter the sum in the designated field. 
7. Lastly, add your and your spouse's Illinois withholding together to fill in the 'Total Illinois withholding' field. This final amount represents the total combined tax withholding for you and your spouse. 
8. When all necessary fields are filled out, make sure to review the information for accuracy. The schedule IL WIT form downloads for free. Alternatively, you may save the PDF for electronic submission.

When should I request Schedule IL-WIT form?

If you are a wage earner or salaried personnel in Illinois, your employer will generally withhold state income taxes from your payslip. A similar process is followed for non-wage earnings where tax is mandatorily deducted at source. In these cases, the accumulated taxes form the amount reported in Schedule IL-WIT. It comes in handy while filing your tax returns, giving you a clear picture of the taxes deducted from your income over the tax year.