The New York State Department of Taxation and Finance today reminded New Yorkers who requested a filing extension Oct. 15 is the deadline to file their state income tax return. Of the 740,000 taxpayers who requested an extension, 400,000 (54 percent) have yet to file.
"We encourage all New Yorkers to e-file. It's the easiest and fastest way to file and, if you're due a refund, you'll receive it up to twice as fast," Commissioner Thomas H. Mattox said.
The error rate on e-filed returns is 20 times lower than paper returns as a result of the automated calculations and user-friendly error checking built into the software.
Asking for an extension doesn't affect a taxpayer's ability to e-file for free; more than 85 percent of all New York taxpayers qualify to do so through one of two options: free state and federal e-filing and New York state web file.
Use an approved e-file software provider available from the Tax Department's website, www.tax.ny.gov. "Be sure to select an e-file option directly from our website," Mattox said. "This will help you avoid an unexpected cost for filing your state return."
Most New Yorkers, regardless of income level, can prepare and e-file their state tax returns directly at the department's website. Eligibility requirements are available online.
Tax credits can help qualified taxpayers reduce their income tax liability. The Earned Income Tax Credit is a refundable federal and state income tax credit available to working individuals and families with an adjusted gross income less than $51,567 in 2013. Eligible families with three or more qualifying children can receive up to the maximum benefit of $8,159.