It249 2025

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The document IT-249 is a tax form from the New York Department of Taxation and Finance for claiming a credit for long-term care insurance premiums under Tax Law Section 606(aa). It includes schedules for individuals, partnerships, and fiduciaries to report qualified premiums paid, calculate the credit amount, and provide details on shares of credits received from partnerships or S corporations. The form outlines steps for full-year residents, nonresidents, and part-year residents to compute their total credit available for the current tax year.

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Versions	Form popularity	Fillable & printable
2023	4.2 Satisfied (57 Votes)
2022	4.4 Satisfied (54 Votes)
2021	4.9 Satisfied (52 Votes)
2020	3.8 Satisfied (33 Votes)
2019	4.2 Satisfied (30 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is tax payment plan worth it?

An installment plan allows you to pay your taxes over time while avoiding garnishments, levies or other collection actions. Youll still owe penalties and interest for paying your taxes late, but it can help make the payments more affordable.

What is the NYS tax payment plan?

A state of New York tax payment plan is available to any taxpayer owing $20,000 or less. A plan can include up to 36 monthly payments. Once accepted, your account will still accrue all penalties and interest on your unpaid balance for the full life of your IPA.

What is the tax credit for long term care insurance in NY?

The allowable credit is 20% of the premiums paid during the tax year for the purchase of, or for continuing coverage under a qualifying long-term care insurance policy. Note: For individual taxpayers (including nonresident and part-year resident taxpayers) the credit amount cannot exceed $1,500.

What happens if I cant pay my NYS taxes?

If you do not pay your tax when due, we will charge you a penalty in addition to interest. The penalty may be waived if you can show reasonable cause for paying late. The penalty charge is: 0.5% of the unpaid amount for each month (or part of a month) it is not paid, up to a maximum of 25%

How does payment plan work for taxes?

A payment plan is an agreement with the IRS to pay the taxes you owe within an extended timeframe. You should request a payment plan if you believe you will be able to pay your taxes in full within the extended time frame. If you qualify for a short-term payment plan you will not be liable for a user fee.

What is the New York State tax relief program?

STAR is the New York State School Tax Relief program that provides an exemption on a portion of school property taxes, or a rebate check, for owner-occupied primary residences. There are 2 types of STAR exemptions or rebate checks - basic and enhanced. View yearly STAR exemption amounts.

It249 2025

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