Form IL-501 is used to deposit Illinois income tax withheld.
If the amount due is:
Less than $500 a quarter - the employer may report and pay the tax using the IL-941.
$500 or more a quarter - the employer must deposit the taxes with the Illinois Department of Revenue using Form IL-501 to transmit the deposit.
The amount of withheld Illinois income tax determines the frequency of deposit. Instructions for the IL-501 are contained in ”Withholding Tax Guide and Withholding Tables,” published by the State of Illinois.
Download and Print withholding forms for Illinois income tax.