What Is Form IT-560 and Who Must File?

Form IT-2106, the Estimated Income Tax Payment Voucher for Fiduciaries, is a New York State tax form used by estates and trusts to remit payments for estimated income tax. This applies to earnings that are not subject to withholding, which the estate or trust anticipates receiving throughout the year. Using this voucher allows fiduciaries to pay their expected tax liability in installments to meet their obligations in a timely manner.

Who Must File Form IT-2106

A fiduciary for a New York resident estate or trust must file Form IT-2106 if it anticipates owing more than $300 in New York State income tax for the year. This threshold also applies to nonresident estates and trusts that have income from New York sources. The calculation of the expected tax liability should account for any tax credits the estate or trust is eligible to claim.

This form is specifically for fiduciaries, who are individuals or institutions legally responsible for managing the assets of an estate or trust. It is not for use by individuals for their personal income tax or by corporations. An exemption from paying estimated tax exists for estates and certain trusts for the tax year of the decedent’s death and the subsequent tax year.

Information Needed to Complete Form IT-2106

To complete the voucher, a fiduciary must gather several pieces of information. This includes the complete name of the estate or trust and its mailing address. The fiduciary’s name and official title are also required, along with the estate or trust’s employer identification number (EIN).

The fiduciary must also indicate the tax year for which the payment is being made. The amount of the estimated tax payment being submitted with the voucher must be calculated and entered in the designated box. The current version of Form IT-2106 can be found on the New York State Department of Taxation and Finance website.

Filing and Payment Instructions

The completed Form IT-2106 must be mailed with payment to the address specified in the form’s instructions. Payments can be made by check or money order. Electronic payment options are also available through the New York State Tax Department’s website, including direct debit or credit card, though a convenience fee may apply for card payments.

Checks or money orders should be made payable to “NYS Income Tax.” To ensure proper credit, the estate or trust’s EIN and the relevant tax year should be written on the payment. Estimated tax payments are due in four installments on April 15, June 15, September 15, and January 15 of the following year. If a due date falls on a weekend or holiday, the payment is due on the next business day. If the fiduciary files the annual Form IT-205, Fiduciary Income Tax Return, and pays the full tax due by January 31, the final estimated payment is not required.