
*962301110* Illinois Department of Revenue Schedule 4255 Attach This Schedule to Your Return Form
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People also ask
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What is tax form 4255?
Use Form 4255 to figure the increase in tax for the recapture of investment credit claimed. Credit Recapture Requirements and Special. Rules.
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What is IRS Form 4255?
Use Form 4255 to figure the increase in tax for the recapture of investment credit claimed. Credit Recapture Requirements and Special. Rules. Generally, you must refigure the investment credit and may have to recapture all or part of it if any of the following apply.
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What comes from Illinois Department of Revenue?
The Illinois Department of Revenue (IDOR) is the code department of the Illinois state government that collects state taxes, operates the state lottery, oversees the state's industry, oversees the state's thoroughbred and harness horse racing industries, and regulates the distribution of alcoholic beverages ...
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What is a Schedule 4255 in Illinois?
You must file Schedule 4255 if you claimed an additional income tax credit (i.e., Angel Investment Credit, Economic Development for a Growing Economy (EDGE) Credit, New Construction EDGE Credit, New Markets Development, or Historic Preservation Credit) against your Illinois income tax liability in a previous year and ...
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What is the Illinois replacement tax investment credit?
This credit includes an additional credit of up to . 5 percent (. 005) of the basis of qualified property placed in service during your tax year, if your Illinois base employment increased over the preceding year, or if your business is new to Illinois.
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What do I attach to my Illinois tax return?
GATHER YOUR INFORMATION your Adjusted Gross Income (AGI) from your 2022 IL-1040; a copy of your federal income tax return and schedules; copies of all W-2 and 1099 forms; your property number and amount of property tax paid; receipts for qualified education or moving expenses;
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Who qualifies for Illinois earned income credit?
Have worked and earned income under $63,398 (income amount is dependent upon filing status and number of qualifying children). Have investment income below $11,000.
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Is Illinois getting the CTC in 2024?
This continued in 2024 as Illinois passed a new child benefit boosting the state's Earned Income Credit for households with a child under 12 by matching the state credit at 40 percent (the match will be 20 percent in 2024 as it phases in).
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