IT-2659: Estimated Tax Penalties for Partnerships and New York S Corporations (2025)
New York · NY DTF · Used for tax years 2025
Form IT-2659 is used by partnerships and New York S corporations to compute penalties for underpayment or nonpayment of estimated tax required to be paid on behalf of corporate partners and nonresident individual partners or shareholders. It includes metropolitan commuter transpo
Who files this form
Form IT-2659 is for partnerships and New York S corporations to calculate penalties for underpaying or not paying estimated tax required on behalf of corporate partners and nonresident individual partners or shareholders. It also covers metropolitan commuter transportation mobility tax (MCTMT).
Include only partners and shareholders who are subject to estimated tax paid on their behalf by the partnership or New York S corporation. All filers must complete Schedule A.
When it's due
For tax year 2025, file Form IT-2659 by the later of:
- April 15, 2026; or
- The due date of the partnership or S corporation tax return for the year, including any extension of time to file.
The form lists these estimated tax installment due dates for tax year 2025:
- April 15, 2025
- June 15, 2025
- September 15, 2025
- January 15, 2026
What you'll need
Have the information needed for the applicable schedules ready:
- The business's legal name, trade name if different, employer identification number (EIN), address, and entity type.
- Applicable partners' or shareholders' shares of New York income, deductions, and credits for 2025 and 2024.
- Nonresident individual partners' shares of net earnings from self-employment allocated to MCTD Zone 1 and Zone 2 for 2025 and 2024, if applicable.
- Estimated tax payment amounts and payment dates for 2025.
- For Schedule D, each listed partner's or shareholder's name, EIN or Social Security number, and the number of quarters estimated tax was not paid for New York State tax and MCTMT.
If Schedule D lists more than six partners or shareholders, attach additional sheets using the same six-column format.
How to file
- Print or type the business information and mark the applicable entity type.
- Complete Schedule A and the other applicable schedules to calculate the penalty.
- Enter the total penalty from page 5, line 52, in the Payment enclosed box on the front page.
- Have a general partner or member, elected officer, or authorized person sign the form.
- Include a check or money order for only the line 52 amount, payable in U.S. funds to Commissioner of Taxation and Finance. Staple it where indicated.
Mail the form and payment to:
NYS TAX DEPARTMENT - IT-2659
PO BOX 15179
ALBANY NY 12212-5179
Do not attach or file Form IT-2659 with any other form.
Common mistakes
- Filing IT-2659 with another form. The form says to file it separately.
- Including other amounts in the payment. Your check or money order must include only the amount on line 52.
- Including partners or shareholders who are not subject to estimated tax paid on their behalf. Schedules A and D say to include only those who are subject to this requirement.
- Using the short method when it does not apply. Schedule B is only for filers who made four equal estimated tax installments on the due dates or made no estimated tax payments. Otherwise, complete Schedule C.
- Leaving out extra Schedule D entries or totals. If listing more than six partners or shareholders, attach sheets in the same six-column format and include their column F totals on the line provided.
Questions people ask
Does every filer need to complete Schedule A?
Yes. The form states that all filers must complete Schedule A to calculate any estimated tax underpayment.
Can I use the short method to calculate the penalty?
You may complete Schedule B if you paid four equal estimated tax installments on the due dates or made no estimated tax payments. Otherwise, you must complete Schedule C.
How is the Schedule D penalty calculated?
For each listed partner or shareholder, add the number of quarters New York State estimated tax was not paid to the number of quarters MCTMT estimated tax was not paid. Multiply that total by $50. Add the column F amounts, including totals from any additional sheets, on line 50.
What amount should I pay with the form?
Pay the total penalty on line 52. This is the sum of lines 49, 50, and 51, as applicable. Enter the same amount in the Payment enclosed box on the front page.