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 by partnerships and S corporations in New York to calculate and pay 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 that partnerships and S corporations may need to pay if they underpay their estimated tax obligations during the year.

Q: How do I calculate estimated tax penalties?
A: Form IT-2659 provides instructions on how to calculate estimated tax penalties. It takes into account factors such as underpayment of estimated tax, late payments, and other penalty calculations.

Q: When is Form IT-2659 due?
A: Form IT-2659 is generally due on or before the fifteenth day of the third month following the close of the tax year.