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New York Free Printable Form IT-502:2015:Temporary Deferral Refundable Payout Credit:it502 for 2024 New York Temporary Deferral Refundable Payout Credit (OBSOLETE)

Form IT-502 is obsolete, and is no longer supported by the New York Department of Revenue.

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2019-new-york-form-it-502.pdf, and you can print it directly from your computer.

Temporary Deferral Refundable Payout Credit (OBSOLETE)
Form IT-502:2015:Temporary Deferral Refundable Payout Credit:it502

Department of Taxation and Finance Temporary Deferral Refundable Payout Credit Tax Law Sections 34 and 606(rr) IT-502 Submit this form with Form IT-201, IT-203, or IT-205.   Name(s) as shown on return Identifying number (SSN or EIN ) Schedule A – Computation of credit 1 Credit to be claimed in 2015 (from 2014 Form IT-502, line 3; see instructions) ..................................................... 1 .00 Instructions General information Line instructions Temporary deferral of certain tax credits For tax years beginning on or after January 1, 2010, and before January 1, 2013, if the total amount of certain credits that you could use to reduce your tax or have refunded to you was greater than $2 million, the excess over $2 million was deferred to tax years beginning on or after January 1, 2013. Purpose of Form IT-502 For tax years beginning on or after January 1, 2013, use Form IT-502 to claim the temporary deferral refundable payout credit. The accumulated amounts of refundable tax credits that were deferred for tax years beginning on or after January 1, 2010, and before January 1, 2013, are combined to become your temporary deferral refundable payout credit. Taxpayers are allowed to claim this credit over a period of three tax years as follows: Tax year Beginning on or after January 1, 2013, and before January 1, 2014 Beginning on or after January 1, 2014, and before January 1, 2015 Beginning on or after January 1, 2015, and before January 1, 2016 Claim amount allowed 50% of the total accumulated credit 75% of the balance of the accumulated credit The remaining balance of the accumulated credit If the amount of the temporary deferral refundable payout credit allowed for each year exceeds your tax for the year, the excess will be treated as a refund or overpayment of tax to be credited to next year’s tax. Interest will not be paid on the refund or overpayment. 502001150094 See the instructions for your tax return for the Privacy notification or if you need help contacting the Tax Department. Schedule A – Computation of credit Line 1 – Enter the amount from line 1 and code 502 on Form IT-201-ATT, line 12, or Form IT-203-ATT, line 12, or include it on Form IT-205, line 33.
Extracted from PDF file 2019-new-york-form-it-502.pdf, last modified November 2014

More about the New York Form IT-502 Individual Income Tax Tax Credit

*Available for 2015

We last updated the Temporary Deferral Refundable Payout Credit (OBSOLETE) in March 2021, and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the New York Department of Taxation and Finance. You can print other New York tax forms here.

Other New York Individual Income Tax Forms:

TaxFormFinder has an additional 271 New York income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IT-201 Individual Income Tax Return
IT-201-V Payment Voucher for Income Tax Returns
Form IT-201-D Resident Itemized Deduction Schedule (DISCONTINUED)
Form IT-203 Nonresident Income Tax Return
Form IT-201-I Individual Income Tax Return Instructions

Download all NY tax forms View all 272 New York Income Tax Forms


Form Sources:

New York usually releases forms for the current tax year between January and April. We last updated New York Form IT-502 from the Department of Taxation and Finance in March 2021.

Show Sources >

Form IT-502 is a New York Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of New York Form IT-502

We have a total of eight past-year versions of Form IT-502 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form IT-502

Form IT-502:2015:Temporary Deferral Refundable Payout Credit:it502

2018 Form IT-502

Form IT-502:2015:Temporary Deferral Refundable Payout Credit:it502

2017 Form IT-502

Form IT-502:2015:Temporary Deferral Refundable Payout Credit:it502

2016 Form IT-502

Form IT-502:2015:Temporary Deferral Refundable Payout Credit:it502

2015 Form IT-502

Form IT-502:2015:Temporary Deferral Refundable Payout Credit:it502

Temporary Deferral Refundable Payout Credit 2014 Form IT-502

Form IT-502:2014:Temporary Deferral Refundable Payout Credit:it502

Temporary Deferral Refundable Payout Credit 2013 Form IT-502

IT-502:2013:Temporary Deferral Refundable Payout Credit:it502

2012 Form IT-502

IT-502:2012:Temporary Deferral Refundable Payout Credit:it502


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