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Department of Taxation and Financial Shelter Reportable TransactionsDTF686Attachment to New York State Return Tax Law Article 1, Section 25(a)(1)All filers must enter tax period: beginningendingName(s).

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A Reportable Transaction is generally a transaction of a type that the IRS has determined as having a potential for tax avoidance or evasion.

A Form 8886 disclosure must be filed for each dissimilar reportable transaction in which the taxpayer participated. Each disclosure must contain specific information regarding the reportable transaction in which the taxpayer has participated.

A reportable transaction is any transaction for which information must be included with a return or statement because the IRS has determined under regulations that this type of transaction has a potential for tax avoidance or evasion ( Code Sec. 6707A(c)(1)).

For individuals, at least $2 million in a single tax year or $4 million in any combination of tax years.

A reportable transaction is a transaction described in one or more of the following categories. Listed Transactions. ... Confidential Transactions. ... Transactions With Contractual Protection. ... Loss Transactions. ... Transactions of Interest. ... Exceptions to Reportable Transaction Categories, Published Guidance.

A tax shelter is a place to legally store assets so that current or future tax liabilities are minimized. A tax shelter is a tax minimization strategy, and should not be confused with the illegal practice of tax evasion.

The American Rescue Plan of 2021 changed the reporting threshold for TPSOs. The new threshold for business transactions is $600 per year; changed from the previous threshold of more than 200 transactions per year, exceeding an aggregate amount of $20,000.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Tax Shelter Reporting And Disclosure Requirements
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2023 NY DTF-686
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  • 2023 NY DTF-686
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  • Dtf 686
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