Within three years from the time the return was filed; or two years from the time the tax was filed and paid, whichever is later, or
If no return was filed, within two years from the time the tax was paid.
Note: If an extension was granted for filing your General Corporation taxes, a refund claim must be made within six months after the extension has ended.
- The refund amount for a three-year claim is limited to the amount of taxes paid within the three-year period plus any extension time if the return was filed on an extension.
- The refund amount for a two-year claim is limited to the amount of the taxes paid within the two-year period.
Requirements for Amended Return
If you want to claim a refund based on a previously filed return and there is a change in the tax liability, you must file an amended return. Otherwise, an amended return is not required.
Extension of Time By Agreement
The period for reviewing the tax may be extended by an agreement between the taxpayer and Finance. A refund claim must be made within six months after this period has ended.
Notice of Change or Correction of Federal or New York State Taxable Income
If an audit by the IRS or New York State results in a change in your Federal or New York state taxable income or tax liability, you are required to notify the Department of Finance. You must report this change by filing a form NYC-3360 with Finance. You must include a complete copy of the Federal and/or State Audit Report or Statement of Adjustment with your NYC-3360.
If this change results in additional taxes due, you are generally required to file the NYC-3360 within 90 days of the date of Notice of Final Federal or New York State Determination; however those filing a combined report have 120 days from the date of final determination.
If the change results in a refund, you generally have up to two years to file the NYC-3360. Interest will be paid as long as you file within the two-year time frame indicated above. In these cases, interest is paid from the date that the claim was filed.
Refund Attributable to Net Operating Loss/Net Capital Loss Carryback
To claim a refund based on a previously filed return you must file an amended return. You need to file the amended return:.
- Three years from the filing deadline for the taxable year of the loss; or
- Six months after an assessment has been made under an agreement or extension; or
- Within the time period shown in the Notice of Change or Correction of Federal or New York State Taxable Income.
Finance has 90 days from the due date, extended due date or filing date (whichever is later) to issue a refund without interest.
NYC-3360 Report of Federal or State Change in Tax Base