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This version of the form is not currently in use and is provided for reference only. Download this version of
Form IT-119
for the current year.
Form IT-119 Star Credit Advance Payment Reconciliation - New York
What Is Form IT-119?
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.
FAQ
Q: What is Form IT-119?
A: Form IT-119 is a tax form used for reconciling Star Credit advance payments in New York.
Q: What is the Star Credit program?
A: The Star Credit program is a tax relief program in New York that provides a reduction in property taxes for eligible homeowners.
Q: Who is eligible for the Star Credit?
A: To be eligible for the Star Credit, you must own and live in your primary residence in New York State and meet certain income requirements.
Q: What are Star Credit advance payments?
A: Star Credit advance payments are payments made to eligible homeowners in advance of the reduction in their property taxes.
Q: Why do I need to reconcile Star Credit advance payments?
A: Reconciliation of Star Credit advance payments is required to ensure that you receive the correct amount of tax relief based on your eligibility and actual property taxes.
Q: How do I reconcile Star Credit advance payments?
A: You can reconcile Star Credit advance payments by completing Form IT-119 and providing accurate information about your property taxes paid and your eligibility for the program.
Q: When is the deadline for reconciling Star Credit advance payments?
A: The deadline for reconciling Star Credit advance payments is generally April 15th of the year following the tax year in which the advance payments were received.
Q: Is there a penalty for failing to reconcile Star Credit advance payments?
A: Yes, if you fail to reconcile Star Credit advance payments, you may lose your eligibility for the program and be required to repay the advance payments.
Q: Can I claim the Star Credit on my federal tax return?
A: No, the Star Credit is a state-specific tax relief program and cannot be claimed on your federal tax return.
Form Details:
- The latest edition provided by the New York State Department of Taxation and Finance;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form IT-119 by clicking the link below or browse more documents and templates provided by the New York State Department of Taxation and Finance.
Download Form IT-119 Star Credit Advance Payment Reconciliation - New York
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