Many taxpayers don’t realize New York State can suspend their driver’s license in certain circumstances if they owe back taxes. The State can suspend a taxpayer’s New York State Driver’s License if: (1) A taxpayer owes $10,000 or more in taxes, penalties, or interest, and (2) No collection resolution is in place (such as
New York has high taxes, so some taxpayers try to change their residency to avoid them. New York residents are required to pay state tax on all worldwide income; while non-residents are only subject to tax on income allocable to New York, such as wages earned for services provided within the State, rents from
Tax season is here which means more tax-related scams. The IRS recently published a warning to consumers about a new one involving “ghost” tax preparers. By law, anyone who is paid to prepare or assist in preparing federal tax returns must have a valid 2019 Preparer Tax Identification Number or PTIN. Paid preparers must sign
Did you miss the Long Island Tax Professionals Symposium? Below is a recap from one of the many stellar programs. Thanks to Hana M. Boruchov, Esq., Tenenbaum Law, P.C.; Frank Agostino, Esq., LL.M. (Taxation), Agostino & Associates, P.C.; and Noelle Geiger, Esq., Grassi & Co. for their great tips on getting innocent spouse relief
The New York State Department of Taxation and Finance (NYSDTF) recently announced that two New Jersey-based corporations have pleaded guilty to failing to pay New York State sales tax. The businesses will pay more than $1.4 million, including about $560,000 in sales tax owed plus penalties and interest. This is just the latest press
Many people get a second home without understanding the tax implications. Whether it’s maintaining a vacation home, an apartment close to work or a place to snowbird, one of those homes could lead to a big tax bill. Residency audits are a common way for states to collect money. New York State is particularly
If you owe taxes to New York State, it can pursue collection of the debt against your real estate, personal assets, and income using a levy. A levy is a legal seizure of property to satisfy a tax debt. If you have a tax problem, here’s what you should know. What types of levies
Did you know that restaurant owners are among the most high profile and common delinquent taxpayers in New York State, according to a Bloomberg BNA analysis? Sales tax rules for restaurants are complex and failure to collect and remit taxes to the state is subject to significant penalties. If you have a restaurant, here are
Did you attend the Accounting & Finance Show earlier this month? Many of our friends and colleagues gave great presentations on a wide range of topics. Our attorneys were honored to present on IRS Appeals and Collections, New York State Tax Collections, and Residency Audits. If you couldn’t attend, here are a few topics
New York residency audits are challenging and difficult ordeals, just ask anyone who has experienced one. When domicile is the issue, a taxpayer must clearly demonstrate both that he has abandoned his old domicile and established a new one. This can be more frustrating than you might assume, especially where a taxpayer’s lifestyle straddles
Have you failed to file a tax return or underpaid your taxes to New York State? New York’s Voluntary Disclosure Program can help you. The Program is designed to entice taxpayers back into the system by allowing non-filers and under-filers to come forward and avoid criminal prosecution and steep late filing and late payment penalties.
When a taxpayer owes back taxes, the New York State Department of Taxation and Finance (NYSDTF) has several ways to collect monies owed. One such way is a New York State Income Execution (IE), which is a type of levy that is issued against a taxpayer’s gross wages. It is limited to 10% of
Getting a notice that you are being audited by the IRS or New York State Tax Department is scary. The worst thing to do is ignore it. Not responding to a notice will only magnify tax problems. It is far better to seek assistance from a professional and face the issues as you work
By: Lance E. Rothenberg, Esq., LL.M. (Taxation) On November 22, 2017, New York’s Tax Appeals Tribunal just issued a sobering decision reminding taxpayers that personal liability for sales taxes, like trust fund taxes, can be difficult to shake. In Matter of Henrie (consolidated with Matter of McBride) (DTA No. 825871), the Tribunal examined the plight of two individuals
As the New York State Department of Taxation and Finance (NYSDTF) ramps up collection efforts against delinquent taxpayers, tax professionals must be prepared to advise their clients about what to do. Several collection tactics were highlighted in Tenenbaum Law’s presentation on New York State Tax Collections at the NYSSCPA, Nassau Chapter, Annual All-Day Tax Conference. Here
