New York State Department of Taxation and Finance June 26, 2020
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More Than 45,000 Tax Returns Remain to be Filed in the Southern TierAverage refund due tops $810 |
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The New York State Department of Taxation and Finance today encouraged taxpayers to file their personal income tax returns ahead of the extended July 15 deadline. More than 45,000 tax returns remain to be filed across the Southern Tier.
Be sure to check whether you’re eligible for earned income tax credits (EITC). EITCs are refundable federal, New York State, and New York City credits for working taxpayers who earn up to $55,952. The credits can reduce the amount of taxes owed or provide a substantial tax refund. When the federal, New York State, and New York City earned income tax credits are combined, they can be worth up to $8,852 for a family with three or more children. Nevertheless, federal estimates suggest that as many as 400,000 eligible New Yorkers may fail to claim these valuable credits. Noncustodial Parent Earned Income Tax Credit New York was the first state in the nation to enact a Noncustodial Parent EITC in 2006. The refundable credit adds to the many ways that New York encourages low-income noncustodial parents to work and stay current with their child-support payments. In 2017, almost 4,960 taxpayers claimed the Noncustodial Parent EITC for a total of almost $2.5 million. Avoid Late Filing Penalties Don’t delay filing your return just because you cannot pay your tax balance in full. Late filers face penalties that are separate from penalties for paying late. The Tax Department has a variety of payment options if you owe unpaid taxes, including an Installment Payment Agreement and the online Quick Pay application that allows you to pay a bill or tax debt directly from your bank account. See Tax Department response to novel coronavirus (COVID-19) for additional information on the extended tax filing deadline. |
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