This version of the form is not currently in use and is provided for reference only. Download this version of Form DTF-686 for the current year.
This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.
Q: What is Form DTF-686?
A: Form DTF-686 is a tax form used in New York to report tax shelter transactions.
Q: Who needs to file Form DTF-686?
A: Taxpayers in New York who are involved in tax shelter transactions may need to file Form DTF-686.
Q: What are tax shelter transactions?
A: Tax shelter transactions are financial arrangements that aim to lower tax liability, often through complex or questionable means.
Q: Do I need to file Form DTF-686 if I am not involved in tax shelter transactions?
A: No, Form DTF-686 is specifically for reporting tax shelter transactions. If you are not involved in such transactions, you do not need to file this form.
Q: Is there a deadline for filing Form DTF-686?
A: Yes, the deadline for filing Form DTF-686 is usually April 15th, the same as the federal tax filing deadline.
Q: Are there any penalties for not filing Form DTF-686?
A: Yes, failure to file Form DTF-686 when required may result in penalties and other consequences.
Q: Is there any fee associated with filing Form DTF-686?
A: No, there is no fee associated with filing Form DTF-686.
Q: Do I need to attach any documentation with Form DTF-686?
A: Yes, you may need to attach supporting documentation related to the tax shelter transactions being reported.
Form Details:
Download a fillable version of Form DTF-686 by clicking the link below or browse more documents and templates provided by the New York State Department of Taxation and Finance.