The NYC 579 GCT form is a Signature Authorization form used for E-Filed General Corporation Tax Returns by the New York City Department of Finance. It serves as a document that allows Electronic Return Originators (ERO) to file taxes electronically on behalf of corporations, without needing to mail the form to the Department of Finance. This form also authorizes electronic payment withdrawals for tax dues directly from the corporation's bank account.
In the dynamic landscape of corporate taxation within New York City, the NYC 579-GCT form emerges as a pivotal document, designed primarily for corporations engaging in the electronic filing of their General Corporation Tax (GCT) returns. This form serves as an authorization mechanism that enables the Signature Authorization for E-Filed General Corporation Tax Return, where corporate officers can delegate the electronic submission of their tax returns to an Electronic Return Originator (ERO). Crucial for streamlining the submission process, the NYC 579-GCT encapsulates various types of returns such as NYC-EXT, NYC-4S, NYC-3L, among others, and facilitates the authorized deduction of payments directly from corporate accounts. Moreover, it encompasses declarations from both the corporate officer and the ERO or paid preparer, affirming the accuracy and completeness of the filed return under the penalty of perjury. Notably, this form also stipulates the prerequisites for electronic payment, necessitating the inclusion of financial institution information to execute the authorized debit. Intended for retention by the ERO and not directed to the Department of Finance, this form highlights the underlying trust and authorization conferred upon the ERO by the corporate officer, thereby signifying a critical component in the compliance infrastructure of New York City's corporate taxation domain.
FINANCE
NYC
579-GCT
NEW YORK CITY DEPARTMENT OF FINANCE
Signature Authorization for
E-Filed General Corporation Tax Return
2011
ELECTRONICRETURNORIGINATORS(ERO):DONOTMAILTHISFORMTOTHEDEPARTMENTOFFINANCE. KEEPTHISFORYOURRECORDS.
LEGAL NAME OF CORPORATION:
EMPLOYER IDENTIFICATION NUMBER
EMAILADDRESS:
TYPE OF RETURN: ■ NYC-EXT
■ NYC-EXT.1
■ NYC-4S
■ NYC-400
■ NYC-3L
■ NYC-4SEZ
Financial Institution Information - must be included if electronic payment is authorized
AMOUNT OF AUTHORIZED DEBIT:
FINANCIAL INSTITUTION ROUTING NUMBER:
FINANCIAL INSTITUTION ACCOUNT NUMBER:
PartA-DeclarationandauthorizationofcorporateofficerforFormsNYC-3L,NYC-4S,NYC-4SEZ,NYC-EXT,NYC-EXT.1orNYC-400
Underpenaltyofperjury,IdeclarethatIamanofficerofthecorporationauthorizedtoactonbehalfoftheabove-namedcorporation,andthatIhaveexamined the information on its 2011 New York City electronically filed corporation tax return, including any accompanying schedules, attachments, and statements or other report checked above, and to the best of my knowledge and belief, the electronically filed corporation tax return or other report is true, correct, and complete.The ERO has my consent to send the 2011 NewYork City electronically filed corporation tax return or other report checked above to NewYork City Department of Finance through the Internal Revenue Service. I authorizetheEROtoentermyPINasmysignatureonthe2011NewYorkCityelectronically filedcorporationtaxreturnorotherreport,orIwillentermyPINasmysignatureonthe2011NewYorkCityelectronicallyfiledcorporationtaxreturnorother report.IfIampayingtheNewYorkCitycorporationtaxowedbyelectronicfundswithdrawal,IauthorizetheNewYorkCityDepartmentofFinanceanditsdes- ignatedfinancialagentstoinitiateanelectronicfundswithdrawalfromthefinancialinstitutionaccountindicatedonthecorporationʼs2011NewYorkCityelec- tronicallyfiledcorporationtaxreturnorotherreport,andIauthorizethefinancialinstitutiontodebittheamountfromthataccount.
Officerʼs PIN (mark an X in one box only)
■
I authorize ___________________________________________________ to enter my PIN :
ERO FIRM NAME
as my signature on the corporationʼs 2011 electronically filed corporation tax return or other report checked above.
■As an authorized person of the corporation, I will enter my PIN as my signature on the corporationʼs 2011 electronically filed corpora- tion tax return or other report checked above.
________________________________________
_________________________
____________________
Signature of authorized person
Official title
Date
Part B - Declaration of electronic return originator (ERO) and paid preparer
Underpenaltyofperjury,Ideclarethattheinformationcontainedintheabove-namedcorporationʼs2011NewYorkCityelectronicallyfiledcorporationtaxreturnorotherreport checkedaboveistheinformationfurnishedtomebythecorporationʼsauthorizedofficer. Ifthecorporateofficerfurnishedmewithacompleted2011NewYorkCitypapercor- porationtaxreturnorotherreportsignedbyapaidpreparer,Ideclarethattheinformationcontainedinthecorporationʼs2011NewYorkCityelectronicallyfiledcorporationtax returnorreportisidenticaltothatcontainedinthepaperreturnorreport.IfIamthepaidpreparer,underpenaltyofperjuryIdeclarethatIhaveexaminedthis2011NewYork Cityelectronicallyfiledcorporationtaxreturnorotherreport,and,tothebestofmyknowledgeandbelief,thereturnorotherreportistrue,correct,andcomplete.Ihavebased thisdeclarationonallinformationavailabletome.
ERO EFIN/PIN: Enteryoursix-digitEFINfollowedbyyourfivedigitPIN:
_________________________________________
_____________________________________
________________
EROʼs Signature
Print Name
Paid Preparerʼs Signature
PURPOSE-AcompletedFormNYC-579-GCTprovidesdocumentationthatanEROhasbeenauthorizedtoelectronicallyfiletheGeneralCorporationTaxreturnorotherreport. Theofficerofthecorporationwhoisauthorizedtosignthecorporation’sreturnsmaydesignatetheEROtoelectronicallysignthereturnorotherreportbyenteringtheofficer’spersonal identificationnumber(PIN).Theformalsoauthorizespaymentoftaxdueonanelectronicallysubmittedreturnorreportbyanautomaticclearinghouse(ACH)debitfromadesignated checkingorsavingsaccountofthecorporation.Youcannotrevokethisauthorization.
GENERALINSTRUCTIONS-PartAmustbecompletedbyanofficerofthecorporationwhoisauthorizedtosignthecorporationʼsreturnorreportbeforetheERO transmitstheelectronicallyfiledFormNYC-3L(GeneralCorporationTaxReturn);NYC-4S(GeneralCorporationTaxReturn-shortform);NYC-4SEZ(GeneralCorporation TaxReturn -EZform);NYC-EXT(Applicationfor6-monthExtensiontoFileBusinessIncomeTaxReturn);NYC-EXT.1(ApplicationforAdditionalExtension)orNYC- 400(DeclarationofEstimatedTaxbyGeneralCorporations).
EROs/paidpreparersmustcompletePartBpriortotransmittingelectronicallyfiledcorporationtaxreturnsorreports(FormsNYC-3L,NYC-4S,NYC-4SEZ,NYC-EXT, NYC-EXT.1orNYC-400). BoththepaidpreparerandtheEROarerequiredtosignPartB. However,ifanindividualperformsasboththepaidpreparerandtheERO, heorsheisonlyrequiredtosignasthepaidpreparer. ItisnotnecessarytoincludetheEROsignatureinthiscase.
DonotmailFormNYC-579-GCTtotheDepartmentofFinance.TheEROs/paidpreparersmustkeepthecompletedFormNYC-579-GCTforthreeyearsfrom theduedateofthereturnorreportorthedatethereturnorreportwasfiled,whicheverislater,andmustpresentittotheDepartmentofFinanceuponrequest.
NYC-579-GCT 2011
Filling out the NYC 579-GCT form is an essential step for corporations in New York City looking to e-file their General Corporation Tax returns or reports. This detailed guide will walk you through the process to ensure that everything is completed accurately. Please remember, this form serves as a declaration and authorization from both the corporation's officer and the Electronic Return Originator (ERO) or paid preparer, confirming the accuracy of the information submitted electronically. It's important to note that even though the corporation's authorized officer might not directly e-file the report, their approval and electronic signature are required for its submission. Furthermore, this form authorizes the deduction of any relevant payments directly from the corporation's bank account.
After completing the form, it's crucial for EROs or paid preparers to retain the document for three years from the due date of the return or the date it was filed, whichever is later. They should not send it to the Department of Finance but must have it available if requested. Carefully reviewing the form for accuracy and completeness before finalizing is essential, ensuring a smooth process in fulfilling the corporation's tax obligations electronically.
What is the NYC 579-GCT form?
The NYC 579-GCT form is a document used by the New York City Department of Finance for General Corporation Tax (GCT) returns. It serves as a signature authorization for electronically filed General Corporation Tax returns. This form is required to document that an Electronic Return Originator (ERO) has been authorized to electronically file a GCT return or report on behalf of a corporation.
Who needs to complete the NYC 579-GCT form?
An officer of the corporation who is authorized to sign the corporation's tax returns or reports must complete Part A of the form. The ERO or paid preparer responsible for filing the tax return or report must complete Part B before transmitting the documents electronically.
What is the purpose of authorizing an ERO to enter an officer’s PIN as their signature?
Authorizing an ERO to enter an officer’s Personal Identification Number (PIN) as their signature allows the electronic submission of the corporation’s tax return or report to the New York City Department of Finance. This process facilitates a secure and efficient method of filing, ensuring that the return or report is submitted by an approved individual on behalf of the corporation.
Can the authorization to debit an amount for tax owed be revoked after submitting the form?
No, once the authorization to initiate an electronic funds withdrawal from the corporation’s designated account is given, it cannot be revoked. This authorization allows for the automatic payment of tax due on an electronically submitted return or report.
What types of returns or reports can be electronically filed using this form?
The NYC 579-GCT form is used for the electronic filing of various General Corporation Tax forms including:
What should be done with the NYC 579-GCT form after its completion?
EROs and paid preparers should not mail the form to the Department of Finance. Instead, the completed form must be kept for three years from the due date of the return or report, or the date it was filed, whichever is later. It must be presented to the Department of Finance upon request.
What if an individual serves as both the paid preparer and the ERO?
If an individual performs roles as both the paid preparer and the ERO for a corporation’s return or report, they are only required to sign Part B of the form as the paid preparer. It is not necessary to include an ERO signature in this scenario.
Is it mandatory to include financial institution information on the form?
Yes, if a corporation is making a payment of taxes owed by electronic funds withdrawal, the NYC 579-GCT form must include the financial institution information. This includes the financial institution routing number and account number from which the tax owed will be debited.
Filling out the NYC 579-GCT form, which is the Signature Authorization for E-Filed General Corporation Tax Return, is a crucial step for corporations. However, certain mistakes can occur during this process, leading to complications or delays. Understanding these errors can help ensure that the form is completed correctly and efficiently.
One common mistake is not providing the accurate legal name of the corporation. This detail is pivotal because it's the formal identification of the business. If the legal name does not match the one registered with the New York City Department of Finance, it could lead to the rejection of the form or processing delays. It's essential to double-check the corporation's official documents to ensure the name is correctly entered.
Another area where errors often occur is in the financial institution information section. This section requires careful attention because any mistake in the financial institution routing number or account number can prevent or delay the authorized debit for tax payment. A misentered routing or account number could lead to unsuccessful payment processing, potentially resulting in late fees or additional interest charges. It's advisable to verify these numbers directly with the financial institution before submitting the form.
The declaration and authorization parts of the form are also critical. The officer of the corporation must affirm that they are authorized to act on behalf of the corporation and that the information provided is true and correct to the best of their knowledge. Sometimes, individuals rush through this section without verifying their authority level within the corporation or the accuracy of the information provided on the tax return. This oversight can lead to inaccuracies in the submitted information, potentially underlining legal repercussions for perjury. Therefore, it's important to review the form and accompanying documents thoroughly before making this declaration.
Lastly, confusion over the officer’s PIN and the authorization to enter it can lead to mistakes. The form offers two options: allowing the ERO to enter the officer’s PIN as their signature or the officer entering their PIN themselves. Misunderstandings or miscommunications about this process can result in an improperly authorized form. Clear communication between the authorized officer and the ERO regarding who will enter the PIN and ensuring it is done correctly is essential for a smooth submission process.
In conclusion, avoiding these mistakes requires careful review, accurate and complete information, clear communication, and thorough understanding of the form's requirements. By addressing these common errors, the process of submitting the NYC 579-GCT form can be more efficient and error-free.
When navigating the complexities of filing corporate tax returns in New York City, especially electronically, various forms and documents work in tandem with the NYC 579-GCT. This particular form is pivotal for authorizing an electronic filing where an Electronic Return Originator (ERO) plays a significant role in representing a corporation's tax affairs. This seamless integration amongst different forms ensures accuracy and efficiency. Below is a list of forms and documents often used alongside the NYC 579-GCT, serving various purposes from requesting extensions to declaring estimated taxes.
Managing corporate tax obligations efficiently calls for thorough document preparation and understanding how different forms interrelate, especially in dynamic business environments like New York City. Properly utilized, these forms not only ensure regulatory compliance but also offer strategic benefits, from cash flow management with estimated taxes to leveraging extensions for comprehensive reporting. Navigating these procedures with attention and care promotes a healthy fiscal posture for corporations within the city's bustling economic landscape.
The IRS Form 8879, IRS e-file Signature Authorization, shares similarities with the NYC 579-GCT in that it serves as an authorization document for electronic filing. Both forms require the taxpayer's consent for a tax preparer or Electronic Return Originator (ERO) to electronically submit tax documents on their behalf. Taxpayers also provide a personal identification number (PIN) as their electronic signature, confirming the accuracy and completeness of the submitted information under penalty of perjury.
Form 8878, IRS e-file Signature Authorization for Form 4868 or Form 2350, is another document akin to the NYC 579-GCT because it authorizes an ERO to e-file specific extension forms and include a taxpayer’s signature via a PIN. Both forms act as a bridge between taxpayers and the IRS or respective city department, ensuring that the electronic processing of forms or extensions is done with the taxpayer's explicit consent.
The Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns, is indirectly similar to parts of NYC 579-GCT concerning extensions (NYC-EXT and NYC-EXT.1). Although Form 7004 is directly filed to the IRS and not an authorization form, it serves a similar purpose in providing businesses additional time to file their taxes, a concept shared with the NYC 579-GCT when it comes to filing extensions for corporation taxes in New York City.
Form 2848, Power of Attorney and Declaration of Representative, like the NYC 579-GCT, grants specific authorization to individuals, allowing them to take certain actions on behalf of the taxpayer. While Form 2848 focuses on broader representation rights before the IRS, NYC 579-GCT specifically authorizes an ERO to e-file a corporation tax return and handle transactions regarding electronic payments.
The Electronic Federal Tax Payment System (EFTPS) Enrollment Form is similar to the financial authorization section of NYC 579-GCT. It allows taxpayers to enroll in a system for making tax payments electronically. Both documents involve providing banking details to authorize direct debits for tax payments, though the EFTPS form is for federal tax payments and the NYC 579-GCT concerns New York City corporation tax payments.
Form 941, Employer's Quarterly Federal Tax Return, while not an authorization form, shares a connection with the NYC 579-GCT in offering an electronic filing option. Businesses use Form 941 to report income taxes, social security tax, or Medicare tax withheld from employees' paychecks. Like the NYC 579-GCT, it can be submitted electronically, requiring accurate information verification by an authorized individual.
Form SS-4, Application for Employer Identification Number (EIN), although primarily for obtaining an EIN, shares the practice of electronic submission and the necessity for correct and truthful information provided under penalty of perjury. This similarity in ensuring accuracy in electronically submitted information for tax purposes draws a parallel with the purpose of the NYC 579-GCT form.
Lastly, the Application for Automatic Extension of Time to File U.S. Individual Income Tax Return (Form 4868) provides taxpayers extra time to file their tax returns, similar to the extension requests part of the NYC 579-GCT. However, Form 4868 applies to individual income taxes at the federal level and demonstrates the overarching concept of extensions within tax filing practices, which is a shared feature in the NYC 579-GCT for corporations.
Filling out the NYC 579 GCT form, a Signature Authorization for E-Filed General Corporation Tax Return, involves meticulous attention to detail and adherence to specific guidelines to ensure correctness and compliance with the New York City Department of Finance requirements. Below is a succinct guide with dos and don'ts to aid in the process:
Following these guidelines will help ensure that the process of filing the NYC 579 GCT form goes smoothly, aiding in the compliance with New York City's tax filing requirements.
Understanding the nuances of the NYC 579-GCT form, or the Signature Authorization for E-Filed General Corporation Tax Return, can sometimes be perplexed. Let's debunk some common misconceptions to ensure clarity and compliance when navigating this document.
Only applies to electronic filings: A primary misunderstanding is that the NYC 579-GCT is required for all tax filings. In reality, this specific form is needed exclusively for electronically filed General Corporation Tax Returns, serving as a signature authorization for such submissions.
Mandatory submission to the Department of Finance: Contrary to what some might think, this form should not be mailed to the Department of Finance. Instead, Electronic Return Originators (EROs) and paid preparers are advised to retain it in their records for a specified duration.
Applies to individual tax filers: The NYC 579-GCT form is tailored for corporations, not individual taxpayers. Its purpose is to facilitate the electronic filing process for corporate tax returns, authorizing EROs to act on behalf of the corporation.
Limited to specific tax return types: While it's easy to assume that the form has unrestricted applicability, it is actually designated for particular types of returns and reports, including NYC-3L, NYC-4S, NYC-4SEZ, NYC-EXT, NYC-EXT.1, and NYC-400.
Only for authorizing electronic payment: Another common error is the belief that the form solely authorizes the electronic payment of taxes. While it does facilitate this, its primary role is to authorize the ERO to electronically sign the tax return or report on behalf of the corporation.
Personal Information Number (PIN) is optional: The form mandates that an officer of the corporation either authorizes an ERO to enter a PIN as their signature or elects to enter their own PIN for the signature on the filed report. The PIN is a crucial element for authorizing electronic submission and payment, rather than being optional.
Unlimited authorization: The perception that once authorized, the ERO's authorization is indefinite is incorrect. The form provides a one-time authorization for a specific tax year, requiring a new form for each subsequent year's electronic filings.
Only the corporate officer needs to complete Part A: It's a common misconception that only Part A needs to be completed by an authorized officer. However, for the electronic filing process to be compliant, both Part A and Part B need to be completed—the latter by the ERO or paid preparer, confirming the information provided by the corporation's authorized officer.
Form is a public record: Lastly, there's a misunderstanding that the completed NYC 579-GCT form becomes a public record. This document is actually kept confidential by the ERO/paid preparer and only presented to the Department of Finance upon request, ensuring the privacy of sensitive company information.
Filling out and using the NYC 579 GCT form, a document essential for businesses managing their General Corporation Tax obligations in New York City, requires attention to detail and an understanding of its requirements. Here are key takeaways to ensure smooth processing:
Adherence to these guidelines will facilitate a smoother electronic filing process, ensuring compliance with the Department of Finance's regulations and contributing to an efficient tax administration system in New York City.
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