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DTF664 (11/05) New York State Department of Taxation and Finance Tax Shelter Disclosure for Material Advisors Tax Law Section 25(b)(1) Material advisors name Employer identification number (EIN) or
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Gather all the necessary documents such as income statements, receipts, and investment records.
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Carefully read the instructions provided with the tax shelter disclosure form.
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Complete the form by providing accurate and complete information in each section.
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Submit the filled-out tax shelter disclosure form to the relevant tax authority by the specified deadline.
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Consult with a qualified tax professional if you have any doubts or need further guidance.

Who needs tax shelter disclosure for?

01
Individuals who have participated in or are associated with tax shelters.
02
Businesses and corporations that have engaged in tax planning strategies involving tax shelters.
03
Tax advisors and professionals who assist clients in utilizing tax shelters.
04
Government entities and regulatory bodies involved in monitoring tax shelter activities.
05
Tax auditors and investigators who assess the legitimacy and compliance of tax shelters.
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Tax shelter disclosure is required by the IRS to report information about certain types of tax shelters in order to prevent tax evasion and ensure compliance with tax laws.
Tax shelter disclosure must be filed by taxpayers who participate in certain types of tax shelter transactions that meet the reporting requirements set by the IRS.
Taxpayers can fill out tax shelter disclosure forms electronically through the IRS website or by mailing in paper forms. Detailed instructions for filling out the form can be found on the IRS website.
The purpose of tax shelter disclosure is to provide the IRS with information about potentially abusive tax shelters in order to prevent tax avoidance and ensure compliance with tax laws.
Taxpayers must report information about the tax shelter transaction, including the type of tax shelter, the amount of tax benefits claimed, the parties involved in the transaction, and any other relevant details.
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