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This form is used to claim the COVID-19 Capital Costs Credit in accordance with New York tax law. It must be submitted along with individual income tax forms such as IT-201, IT-203, IT-204, or IT-205, and provides a breakdown of credits for partners, shareholders, and beneficiaries.
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What is it-657?
IT-657 is a form used for reporting specific tax-related information to the tax authorities, particularly concerning income and deductions.
Who is required to file it-657?
Individuals or entities that have specific qualifying income or deductions that need to be reported to the tax authorities are required to file IT-657.
How to fill out it-657?
To fill out IT-657, gather the necessary financial information, carefully complete each section of the form according to the instructions provided, and ensure all required documentation is attached before submission.
What is the purpose of it-657?
The purpose of IT-657 is to provide the tax authorities with accurate and relevant information regarding certain types of income or deductions, enabling correct tax calculations.
What information must be reported on it-657?
Information that must be reported on IT-657 includes detailed income figures, eligible deductions, and any other pertinent financial data as required by tax regulations.
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