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Tax Shelter Disclosure for 2025

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The document DTF-664 is a tax shelter disclosure form required by the New York State Department of Taxation and Finance for material advisors. It outlines the reporting requirements for disclosing information related to tax shelters, including necessary personal and business information, certification of accuracy, and instructions for filing with the IRS. The form emphasizes compliance with tax laws to avoid penalties and extends the statute of limitations for assessments related to tax avoidance transactions.

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Click ‘Get Form’ to open the Tax Shelter Disclosure in the editor.
Begin by entering the material advisor’s name, employer identification number (EIN) or social security number, and mailing address. Ensure all details are accurate to avoid processing delays.
In the 'Tax Shelter Information' section, mark an X next to the type of business organization that applies. If you select 'Other', specify the type in the provided space.
Enter the six-digit NAICS business code number associated with your tax shelter as reported on your federal return.
Attach a copy of federal Form 8918 and any related documentation. Use our platform's attachment feature for easy uploads.
Finally, certify your disclosure by signing and dating the form. If applicable, include information for any paid preparer involved.

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Versions	Form popularity	Fillable & printable
2023	4.1 Satisfied (45 Votes)
2022	4.1 Satisfied (26 Votes)
2017	4.9 Satisfied (30 Votes)
2016	4.6 Satisfied (46 Votes)
2012	4.5 Satisfied (29 Votes)
2010	4.9 Satisfied (38 Votes)

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What is an example of a tax shelter in real estate?

A tax shelter is when you use a real estate investment property, investment account, or transaction to lower your income tax rate. It reduces the income tax owed through deductions and credits. Examples include: Claiming tax breaks like property depreciation expense.

What makes a tax shelter illegal?

Legal tax shelters include certain investment strategies and tax deductions, while illegal ones might involve hiding money in untraceable overseas accounts. Using illegal tax shelters can lead to severe consequences, including penalties, interest on unpaid taxes, and potential criminal charges.

Is a Roth IRA considered a tax shelter?

The most common tax-sheltered investments include IRAs and Roth IRAs, 401(k) plans, annuities, real estate, municipal bonds, flexible spending accounts and health spending accounts.

How does a tax shelter work?

A tax shelter is a place to store assets so that current or future tax liabilities are minimized. A tax shelter can be used legally or illegally. Tax shelters may permanently reduce the amount of tax a taxpayer owes or may simply defer the taxes owed to a future period.

What is the IRS definition of a tax shelter?

Tax shelters are ways individuals and corporations reduce their tax liability. Shelters range from employer-sponsored 401(k) programs to overseas bank accounts. The phrase tax shelter is often used as a pejorative term, but a tax shelter can be a legal way to reduce tax liabilities.

What is a prohibited tax shelter?

Generally, the term prohibited tax shelter transaction means listed transactions, transactions with contractual protection, or confidential transactions. See the definitions of these categories below. There may be additional disclosure requirements for tax-exempt entities with respect to these types of transactions.

What is a tax shelter transaction?

Investments that yield tax benefits are sometimes called tax shelters. Generally, abusive tax shelters are schemes involving transactions with little or no substance. Participants in certain shelters and transactions are required to disclose their participation, and may be subject to penalties for failing to do so.

Tax Shelter Disclosure for 2025

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