Instructions for Form IT-558 New York State Adjustments Due to Decoupling From the Irc - New York

This document contains official instructions for Form IT-558 , New York State Adjustments Due to Decoupling From the Irc - a form released and collected by the New York State Department of Taxation and Finance.

FAQ

Q: What is Form IT-558?
A: Form IT-558 is a tax form used in the state of New York.

Q: What are adjustments due to decoupling from the IRC?
A: Adjustments due to decoupling from the IRC are changes made to the state tax law in New York that differ from the federal tax law.

Q: Why do I need to file Form IT-558?
A: You need to file Form IT-558 if you need to report any adjustments due to decoupling from the IRC on your New York state tax return.

Q: What information do I need to complete Form IT-558?
A: To complete Form IT-558, you will need to gather information about any adjustments due to decoupling from the IRC that apply to your situation.

Q: When is the deadline to file Form IT-558?
A: The deadline to file Form IT-558 is the same as the deadline to file your New York state tax return, which is typically April 15th.

Q: Can I e-file Form IT-558?
A: Yes, you can e-file Form IT-558 if you are filing your New York state tax return electronically.

Q: What should I do if I have questions about Form IT-558?
A: If you have questions about Form IT-558, you can contact the New York State Department of Taxation and Finance for assistance.

Q: Are there any penalties for not filing Form IT-558?
A: Yes, if you are required to file Form IT-558 and fail to do so, you may be subject to penalties and interest on any taxes owed.

Q: Can I file Form IT-558 if I live in a different state?
A: No, Form IT-558 is specifically for taxpayers in the state of New York who need to report adjustments due to decoupling from the IRC.