It’s no surprise that not every taxpayer timely prepares and files their taxes in any given year. Whether there are no funds available to pay the tax bill or there is simply insufficient time to prepare the return, a variety of reasons exist for this failure. However, a little information and foresight may alleviate the stress caused by the realization that a tax return will be untimely filed. The tax professonals at the Thorgood Law Firm can help any New York taxpayer deal with any looming tax deadline.
New York residents and taxpayers may automatically extend the time to file their New York State tax returns. Upon proper application, an automatic extension of time is granted by the State of New York to file a New York State income tax return beyond the deadline for filing the return. The length of time of this automatic extension is six months. With exception regarding electing large partnerships for Federal purposes, the length of time of the automatic extension for a New York State partnership or fiduciary return is five months. Consistent with New York Tax Law, the automatic extension may be granted for a different length of time to conform to extensions for comparable Federal forms.
The New York State Department of Taxation sets forth the different methods for individuals, partnerships, and fiduciaries to make proper application for the automatic extension of time to file a New York State income tax return. The application for an automatic extension must be filed on or before the deadline for filing the appropriate return, and does not operate to extend the time for the payment of any New York State personal income tax, City of New York tax, City of Yonkers tax, or sales and compensating use taxes due on the return.
In the case of an individual or a fiduciary, the application for automatic extension of time for filing a New York State income tax return must be accompanied by a full remittance of the amounts properly estimated as New York State personal income tax, City of New York tax, and City of Yonkers tax remaining unpaid as of the date prescribed for filing the return. Also in the case of an individual or a fiduciary, the application for automatic extension of time for filing the income tax return must be accompanied by a full remittance of any sales and compensating use taxes remaining unpaid as of the date prescribed for filing the income tax return.
If you need to file an application to extend the time for filing your New York State tax return, call THE TAX EXPERTS at the Thorgood Law Firm www.thorgoodlaw.com. For a FREE consultation, call 212-490-0704.
