IT-229 Reminder

As discussed on pages 81 to 85 of the Tax Year 2021 M+O=CPE Individual Tax Year-End Workshop Reference Book, New York State has a new refundable credit for real property taxes that is claimed as part of the New York personal income tax return.  The credit is reported on Form IT-229, Real Property Tax Relief Credit.

Practitioners should make sure that their software is properly computing and including the credit for eligible clients.