Instructions for Form IT-2659 Estimated Tax Penalties for Partnerships and New York S Corporations - New York

Form IT-2659 Estimated Tax Penalties for Partnerships and New York S Corporations - New York

This document contains official instructions for Form IT-2659 , Estimated Tax Penalties for Partnerships and New York S Corporations - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-2659 is available for download through this link.

FAQ

Q: What is Form IT-2659?
A: Form IT-2659 is a tax form used in New York for partnerships and S corporations to calculate and report estimated tax penalties.

Q: Who needs to file Form IT-2659?
A: Partnerships and S corporations in New York that are subject to estimated tax penalties need to file Form IT-2659.

Q: What are estimated tax penalties?
A: Estimated tax penalties are additional taxes imposed on partnerships and S corporations when they underpay their estimated tax obligations.

Q: What is the purpose of Form IT-2659?
A: Form IT-2659 is used to calculate and report the estimated tax penalties for partnerships and S corporations in New York.

Q: When is the deadline to file Form IT-2659?
A: The deadline to file Form IT-2659 is the same as the due date for the final return of the partnership or S corporation.

Q: Are there any penalties for failing to file Form IT-2659?
A: Yes, there may be penalties for failing to file Form IT-2659, such as late filing penalties and interest charges.

Q: Can Form IT-2659 be filed electronically?
A: Yes, Form IT-2659 can be filed electronically using the New York State Department of Taxation and Finance's e-file system.

Q: Is there any way to request an extension to file Form IT-2659?
A: No, extensions to file Form IT-2659 are not allowed. It must be filed by the original due date.

Q: What should I do if I made an error on Form IT-2659?
A: If you made an error on Form IT-2659, you should file an amended form as soon as possible to correct the mistake.