Form It-370-Pf - Department Of Taxation And Finance Application For Automatic Extension Of Time To File For Partnerships And Fiduciaries (With Instructions) Page 2
ADVERTISEMENT
1
2
3IT-370-PF
Department of Taxation and Finance
Application for Automatic Extension of Time to
File for Partnerships and Fiduciaries
( with instructions )
Instructions
General information
paying late can be shown. This penalty is in addition to the interest charged
for late payments.
Purpose – File Form IT-370-PF on or before the due date of the return to
get an automatic extension of time to file Form IT-204, Partnership Return, or
Reasonable cause will be presumed with respect to the addition to tax for late
Form IT-205, Fiduciary Income Tax Return.
payment of income tax if the requirements relating to extensions of time to file
have been complied with, the balance due shown on the income tax return,
Form IT-370-PF automatically extends the due date for filing Form IT-204 and
reduced by any sales or use tax that is owed, is no greater than 10% of the
Form IT-205, for five months. However, electing large partnerships that are
total New York State, New York City, and Yonkers tax shown on the income
allowed an automatic six-month extension for federal purposes will also be
tax return, and the balance due shown on the income tax return is paid with
allowed an automatic six-month extension for filing Form IT-204.
the return.
Note: We no longer accept a copy of the federal extension form in place of
Estates and trusts late filing penalty – If you do not file Form IT-205 when
Form IT-370-PF.
due (determined with regard to any extension of time to file), or if you do not
If you have to file Form Y-206, Yonkers Nonresident Fiduciary Earnings
file Form IT-370-PF on time and obtain an extension of time to file, you will
Tax Return, the time to file is automatically extended when you file
have to pay a penalty of 5% of the income tax due for each month, or part of
Form IT-370-PF. For more information on who is required to file Form Y-206,
a month, the return is late up to a maximum of 25%.
see the instructions for the form.
However, if the return is not filed within 60 days of the time prescribed for
You may file Form IT-204 or Form IT-205 any time before the extension
filing a return (including extensions), this penalty will not be less than the
period ends. An extension of time to file Form IT-204 or IT-205 will not
lesser of $100 or 100% of the amount required to be shown as income tax
extend the time for filing New York State income tax returns of partners of a
due on the return reduced by any income tax paid and by any credit that may
partnership or the beneficiaries of an estate or trust.
be claimed. The penalty will not be charged if reasonable cause for filing late
is shown.
When to file – File a completed Form IT-370-PF on or before the filing
deadline for the return (extension applications filed after the filing deadline
Partnerships – A partnership that is required to file Form IT-204 and:
for the return are invalid). Generally, the filing deadline is the fifteenth day of
(1) fails to file that return on time, including any extension of time, or (2) files
the fourth month following the close of your tax year (for calendar-year filers,
a return that is incomplete and fails to show the information required under
April 18, 2016).
section 658(c), will have to pay a penalty. The penalty will be imposed for
each month or part of a month, up to a maximum of 5 months, that the failure
However, you may file Form IT-370-PF on or before June 15, 2016, if you are
continues. The amount of the penalty for each month will be calculated by
a nonresident alien estate or trust and you qualify to file your federal and
multiplying $50 by the total number of partners in the partnership during any
New York State income tax returns on June 15, 2016. See Special condition
part of the partnership’s tax year who were also subject to New York personal
codes on the back.
income tax during any part of the tax year. The penalty will not be charged if
How to file – Complete a separate Form IT-370-PF for each partnership
reasonable cause for filing late is shown.
(including limited liability companies (LLCs), limited liability investment
Interest – Interest will be charged on any income tax or sales or use tax that
companies (LLICs), and limited liability trust companies (LLTCs) treated as
is not paid on or before the due date of your return, even if you received an
partnerships), each limited liability partnership and each estate or trust for
extension of time to file your return. Interest is a charge for the use of money
which you are requesting an extension of time to file. Form IT-205 filers -
and in most cases may not be waived. Interest is compounded daily and the
Form IT-370-PF must be filed with payment for any tax owed on or before the
rate is adjusted quarterly.
due date of the return (see the worksheet instructions on the back).
Fee for payments returned by banks – The law allows the Tax Department
Penalties
to charge a $50 fee when a check, money order, or electronic payment is
returned by a bank for nonpayment. However, if an electronic payment is
Estates and trusts late payment penalty – If an estate or trust does not
returned as a result of an error by the bank or the department, the department
pay the income tax liability when due (determined with regard to any valid
won’t charge the fee. If your payment is returned, we will send a separate bill
extension of time to pay), it will have to pay a penalty of ½ of 1% of the
for $50 for each return or other tax document associated with the returned
unpaid amount for each month or part of a month it is not paid, up to a
payment.
maximum of 25%. The penalty will not be charged if reasonable cause for
Detach (cut) here
Do not submit with your return.
▼
▼
IT-370-PF
Department of Taxation and Finance
Application for Automatic Extension of
Mark an X in one box for the form you will be filing:
Time to File for Partnerships and Fiduciaries
Form IT-204
Form IT-205
Paid preparer? Mark an X in the box and complete the back ............
Enter your 2-character special condition code
Partnership, estate or trust ID number (EIN)
Date fiscal year begins
Date fiscal year ends
if applicable (see instructions) ..........................................
004XX1001
01-01-2015
12-31-2015
Mark an X in the box for each tax that the estate or trust is subject to:
Name of partnership, estate, or trust
Pinehaven Estate
New York State tax
New York City tax
Yonkers tax
Name and title of fiduciary
Dollars
Cents
Joe Schalada Trustee
Mailing address (number and street or PO box) of partnership or fiduciary
Apartment number
0 0
1 Sales and use tax .......
50 Siver Rd
City, village, or post office
State
ZIP code
0 0
(see instructions)
2 Total payment ...........
Guilderland
NY
12001-6482
E-mail:
3711150099
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form It-370 - 2015 - Department Of Taxation And Finance Application For Automatic Six-month Extension Of Time To File For Individuals (with Instructions)
Financial
Form Ri-8736 - Application For Automatic 6 Month Extension Of Time To File Ri Partnership Or Ri Fiduciary Income Tax Return - 2006
Financial
Form Ri-8736 - Application For Automatic 6 Month Extension Of Time To File Ri Partnership Or Ri Fiduciary Income Tax Return - 2010
Financial
Form Ri-8736 - Application For Automatic 6 Month Extension Of Time To File Ri Partnership Or Ri Fiduciary Income Tax Return - 2008
Financial
Form Ri-8736 - Application For Automatic 6 Month Extension Of Time To File Ri Partnership Or Ri Fiduciary Income Tax Return - 2005
Financial
Form Ri-8736 Draft - Application For Automatic 6 Month Extension Of Time To File Ri Partnership Or Ri Fiduciary Income Tax Return - 2009
Financial
Instructions For Arizona Form 120ext - Application For Automatic Extension Of Time To File Corporation, Partnership, And Exempt Organization Returns - 2013
Financial
Form 120ext - Application For Automatic Extension Of Time To File Corporation, Partnership, And Exempt Organization Returns - 2000
Financial
Related Categories
Parent category: Financial