§ 687. Limitations on credit or refund.-- (a) General.-- Claim for\ncredit or refund of an overpayment of income tax shall be filed by the\ntaxpayer within (i) three years from the time the return was filed, (ii)\ntwo years from the time the tax was paid, or (iii) in the case of any\noverpayment arising from an erroneous denial by the department of\nenvironmental conservation of a certification of completion pursuant to\nsection 27-1419 of the environmental conservation law, two years from\nthe time a final determination to the effect that such denial was\nerroneous is made and is no longer subject to judicial review, whichever\nof such periods expires the latest, or if no return was filed, within\ntwo years from the time the tax was paid. If the claim is filed within\nthe three year period, the amount of the credit or refund shall not\nexceed the portion of the tax paid within the three years immediately\npreceding the filing of the claim plus the period of any extension of\ntime for filing the return unless such claim is for a credit or a\nportion thereof provided pursuant to paragraph two or four of subsection\n(c), paragraph two or four of subsection (d) or subsection (e) of\nsection six hundred six of this chapter. If the claim is not filed\nwithin the three year period, but is filed within the two year period,\nthe amount of the credit or refund shall not exceed the portion of the\ntax paid during the two years immediately preceding the filing of the\nclaim unless such claim is for a credit or a portion thereof provided\npursuant to paragraph two or four of subsection (c), paragraph two or\nfour of subsection (d) or subsection (e) of section six hundred six of\nthis chapter. In the case of a claim for credit or refund filed within\nthe period prescribed in paragraph (iii) of this subsection, the amount\nof the credit or refund may exceed the portion of the tax paid within\nthe applicable period specified in the two immediately preceding\nsentences, but only to the extent of the amount of the overpayment\nattributable to the denial described in such paragraph. Except as\notherwise provided in this section, if no claim is filed, the amount of\na credit or refund shall not exceed the amount which would be allowable\nif a claim had been filed on the date the credit or refund is allowed.\n (b) Extension of time by agreement.--If an agreement under the\nprovisions of paragraph (2) of subsection (c) of section six hundred\neighty-three (extending the period for assessment of income tax) is made\nwithin the period prescribed in subsection (a) for the filing of a claim\nfor credit or refund, the period for filing a claim for credit or\nrefund, or for making credit or refund if no claim is filed, shall not\nexpire prior to six months after the expiration of the period within\nwhich an assessment may be made pursuant to the agreement or any\nextension thereof. The amount of such credit or refund shall not exceed\nthe portion of the tax paid after the execution of the agreement and\nbefore the filing of the claim or the making of the credit or refund, as\nthe case may be, plus the portion of the tax paid within the period\nwhich would be applicable under subsection (a) if a claim had been filed\non the date the agreement was executed.\n (c) Notice of federal change or correction.--A claim for credit or\nrefund of any overpayment of tax attributable to a federal change or\ncorrection required to be reported pursuant to section six hundred\nfifty-nine or by a partner of a partnership required to report a federal\nchange or correction pursuant to section six hundred fifty-nine-a shall\nbe filed by the taxpayer within two years from the time the notice of\nsuch change or correction or such amended return was required to be\nfiled with the commissioner of taxation and finance. If the report or\namended return required by section six hundred fifty-nine or six hundred\nfifty-nine-a is not filed within the ninety day period therein\nspeci
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