Tax Department Provides Information For Out-Of-State Tax Filers Affected By Spring Storms And Flooding

ALBANY, NY (04/08/2010)(readMedia)-- The New York State Department of Taxation and Finance today announced guidance for taxpayers who are unable to file their personal income tax returns - including partnership and fiduciary returns - by April 15 because of last month's severe storms and flooding in Massachusetts, New Jersey, Rhode Island and West Virginia.

Taxpayers who have been adversely affected in those areas who are unable to file their personal income tax returns by April 15 should apply for an extension of time. Extensions of time may be filed quickly and easily on the Department's website www.nystax.gov or through many of the tax software programs. Alternatively, an extension request may be filed on paper using Form IT-370 (Form IT-370-PF for partnerships and fiduciaries.)

An extension of time does not extend the time to pay any tax due. Taxpayers must make a good faith effort to properly estimate any additional tax that may be due and pay that amount with the extension request. In addition, taxpayers who are required to make estimated tax payments for the 2010 tax year must still make their first estimated tax payment by April 15.

However, the Department will waive any penalties for taxpayers who are unable to properly estimate the additional tax due with the extension request or to properly determine the first estimated tax payment for 2010 because they were affected by the severe storms and flooding. In the event penalties are imposed, taxpayers should notify the Department that they qualify for the waiver of penalties. Interest will continue to accrue on any unpaid balance until payment is received.

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