I have a lot of S Corp clients receiving notices from the IL Dept of Revenue because apparently when making the estimated tax payments in 2022 for the new PTE tax credit I should have also included the IL replacement tax as well. So when making the payments if you didn't pay in BOTH the expected PTE tax AND the IL replacement tax, then you will be getting a pretty sizeable penalty. I thought we only had to pay in the expected PTE amount because you were never required to make estimated tax payments for the IL replacement tax.

Did not know that! Anyone else seeing these penalties from their clients?

The curious thing is that the ProSeries software is NOT assessing the correct amount of penalty.