New York New York State and New York City Surety Bond Form - Change of Resident Status - Special Accruals

New York State and New York City Surety Bond Form - Change of Resident Status - Special Accruals
Form IT-260:9/15:New York State and New York City Surety Bond Form Change of Resident Status -- Special Accruals: IT260
Department of Taxation and Finance

New York State and New York City Surety Bond Form

Change of Resident Status – Special Accruals

IT-260
(9/15)

Tax Law – Sections 639 and 1307
Complete this agreement in triplicate, and forward by registered
mail along with your letter of tender and Form IT-201, IT-203, or
IT-205 to the address shown on the right of this form.
If filing a joint return, use both names.

INCOME TAX AUDIT ADMINISTRATOR I
IFDAB
W A HARRIMAN CAMPUS
ALBANY NY 12227-4299

Know all persons by these presents, that I (we)	
of
as principal, and the	
	a corporation organized under the laws of the State of		
and duly authorized to transact business
in the State of New York, having an office and usual place of business at	
	
New York, as Surety,
are held and firmly bound unto the People of the State of New York and the New York State Department of Taxation and Finance, the
sum of	
lawful money of the United States of America, for the payment
whereof we bind ourselves, our successors and assigns, jointly and severally, firmly by these presents.
Whereas, the principal on				 (date) changed resident status for purposes of the income
and earnings taxes administered by the commissioner of Taxation and Finance from	

(full address)
(full address)

to		

and is required under sections 637(a), 637(b), 638(a), 638(b), 1307(b), 1307(c), 1307(e), 1307(f), and 801(b) of the Tax Law to
determine New York source income for the year	
, and under sections 651(a), 1307(a), and 1307(d) of the Tax Law to file a
return(s) as a resident or part-year resident for the year		
, and

Whereas, due to such change of residence, certain additional amounts were includable under sections 639(a), 639(h),
1307(c), and 1307(f) in computing New York taxable income of the principal on the accrual basis for the taxable period immediately prior
to the change of residence, and
Whereas, the principal desires not to report on such principal’s return for the taxable period immediately prior to the
change of residence the amounts referred to in the preceding paragraph which would otherwise be includable under sections 639(a),
639(h), 1307(c), and 1307(f), and
Whereas, the tax for such taxable period prior to the change of residence would have been increased by the
amount of $			if such election had not been made, and
Whereas, sections 639(d), 639(h), 1307(c), and 1307(f) of the Tax Law require a taxpayer to file a bond to secure future
payments of tax, calculated on the amount of deferred income as if no change of residence occurred thereunder;
Now, therefore, the condition of this bond is such that if the principal shall pay the full amount of tax, and any penalties
and interest thereon, deferred for the year	
by reason of the election under sections 639(d), 639(h), 1307(c), and 1307(f)
of the Tax Law, or shall report for the applicable taxable years all items of income, gain, loss, or deduction, which were accruable for the
taxable period immediately prior to such principal’s change of residence and which would otherwise have been required to be included in
the principal’s return for such period, then this obligation is to be void; otherwise, it shall be irrevocable and remain in full force and effect.
The obligations of the principal(s) and surety under this bond may not be changed or terminated orally.
In witness whereof, said principal(s) and surety have signed and sealed this instrument this
day of		
in the year of	
.

	

Note:	 Add acknowledgments by both principal and surety, financial statement of surety, etc.
(Signed)

	

Principal

	

Principal (spouse)

	

Surety

	

Attorney-in-fact

By (signed)

260001150094