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: What are tax shelter transactions?
A: Tax shelter transactions are transactions that are intended to reduce or eliminate tax liabilities.
Q: Who needs to file Form DTF-686?
A: Taxpayers who are involved in tax shelter transactions in New York need to file Form DTF-686.
Q: What information needs to be reported on Form DTF-686?
A: Form DTF-686 requires taxpayers to provide details about the tax shelter transactions, including the parties involved and the tax benefits sought.
Q: What is the deadline for filing Form DTF-686?
A: Form DTF-686 must be filed by the due date of the taxpayer's New York state tax return.
Q: Are there any penalties for not filing Form DTF-686?
A: Yes, there are penalties for not filing Form DTF-686, including monetary penalties and interest on any taxes owed.
Q: Is Form DTF-686 required for federal tax purposes?
A: No, Form DTF-686 is specific to New York state taxes and is not required for federal tax purposes.
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.