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This entry was published on 2014-09-22
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Report of federal changes, corrections or disallowances
§ 659. Report of federal changes, corrections or disallowances. If the
amount of a taxpayer's federal taxable income, total taxable amount or
ordinary income portion of a lump sum distribution or includible gain of
a trust reported on his federal income tax return for any taxable year,
or the amount of a taxpayer's earned income credit or credit for
employment-related expenses set forth on such return, or the amount of
any federal foreign tax credit affecting the calculation of the credit
for Canadian provincial taxes under section six hundred twenty or six
hundred twenty-A of this article, or the amount of any claim of right
adjustment, is changed or corrected by the United States internal
revenue service or other competent authority or as the result of a
renegotiation of a contract or subcontract with the United States, or
the amount an employer is required to deduct and withhold from wages for
federal income tax withholding purposes is changed or corrected by such
service or authority or if a taxpayer's claim for credit or refund of
federal income tax is disallowed in whole or in part, the taxpayer or
employer shall report such change or correction or disallowance within
ninety days after the final determination of such change, correction,
renegotiation or disallowance, or as otherwise required by the
commissioner, and shall concede the accuracy of such determination or
state wherein it is erroneous. The allowance of a tentative carryback
adjustment based upon a net operating loss carryback pursuant to section
sixty-four hundred eleven of the internal revenue code shall be treated
as a final determination for purposes of this section. Any taxpayer
filing an amended federal income tax return and any employer filing an
amended federal return of income tax withheld shall also file within
ninety days thereafter an amended return under this article, and shall
give such information as the commissioner may require. The commissioner
may by regulation prescribe such exceptions to the requirements of this
section as he or she deems appropriate. For purposes of this section,
(i) the term "taxpayer" shall include a partnership having a resident
partner or having any income derived from New York sources, and a
corporation with respect to which the taxable year of such change,
correction, disallowance or amendment is a year with respect to which
the election provided for in subsection (a) of section six hundred sixty
of this article is in effect, and (ii) the term "federal income tax
return" shall include the returns of income required under sections six
thousand thirty-one and six thousand thirty-seven of the internal
revenue code. In the case of such a corporation, such report shall also
include any change or correction of the taxes described in paragraphs
two and three of subsection (f) of section thirteen hundred sixty-six of
the internal revenue code. Reports made under this section by a
partnership or corporation shall indicate the portion of the change in
each item of income, gain, loss or deduction (and, in the case of a
corporation, of each change in, or disallowance of a claim for credit or
refund of, a tax referred to in the preceding sentence) allocable to
each partner or shareholder and shall set forth such identifying
information with respect to such partner or shareholder as may be
prescribed by the commissioner.