What is decoupling from IRC?

[leggsy2k]

states I need IT-558 form

[Irene2805]

If the state does not want to conform to a new federal law, it must pass specific legislation to decouple from it. NY State decided not to follow any changes made to the Internal Revenue Code after March 1, 2020.  The instructions for NY Form IT-558 state:

For tax years beginning before January 1, 2022, the 2020-2021 New York State budget (Part WWW of Chapter 58 of the Laws of 2020) decoupled personal income tax from any amendments made to the Internal Revenue Code (IRC) after March 1, 2020. This includes changes made by the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act and any other federal changes to the IRC. Therefore, any amendments made to the IRC after March 1, 2020, will not apply to New York State or New York City personal income tax.

New York form IT-558 has not been finalized yet.  For current information on forms availability please click on the applicable link below:

• Federal forms
• State forms