Steps You Can Take When You Can’t Pay Your Taxes

As the restaurant industry continues to struggle with the impact of COVID-19, tax bills are presenting yet another problem. Shut-downs, continuing restrictions on capacity, and added costs to protect workers and patrons have left restaurants and owners with little cash to pay income and sales taxes. Fortunately, there are payment options that can help

New York State Sales Tax Reminders

While many businesses are returning to normal, some are still struggling, and the upcoming sales tax deadline can make it feel worse. Earlier this year, businesses that were unable to meet quarterly sales tax filing and/or payment requirements due to COVID-19 were able to have their deadlines extended to June 22, 2020, and have

2020-12-03T22:59:11+00:00September 10, 2020|Categories: NYS Tax, Sales Tax|

July 15 Tax Deadline Looms: What You Need to Know If You Owe Back Taxes

As a result of the COVID-19 crisis, many federal and New York State tax deadlines were extended. In addition, those who had pending audits or tax collection matters or were paying off back taxes got a temporary break. However, many of these tax relief measures are set to end on July 15, 2020. What

2020-12-03T22:59:58+00:00July 2, 2020|Categories: IRS, NYS Tax, Sales Tax|Tags: , , , , |

7 Consequences of Failing to Pay New York State Sales Tax

New York takes sales tax liability seriously. It devotes significant resources to ensuring that businesses properly track, collect, and pay sales tax to the government. When a business fails to do that, the state enforces the law using a variety of tools at its disposal, including the following: Collection action against income and assets.

Top 10 COVID-19 Tax Relief Provisions You Need to Know Now

Many individuals and businesses are facing significant financial problems arising from the coronavirus.  The Federal and New York State governments have responded with several changes to provide tax relief. Here are the key provisions taxpayers need to know: Federal Taxes 1. Filing and Paying Taxes. Taxpayers may defer filing and paying their federal taxes

2021-09-21T01:58:55+00:00May 4, 2020|Categories: IRS, NYS Tax, Sales Tax|Tags: , , , , |

Covid-19 Tax Relief Recap for Individuals and Businesses

As the coronavirus spreads, individuals and businesses are increasingly facing financial problems on top of the potential health concerns. In response to this, both the federal and New York State government have provided some tax relief. Here are a few developments: Federal Taxes The Treasury Department and the Internal Revenue Service have announced that

2020-12-03T23:01:00+00:00March 31, 2020|Categories: IRS, NYS Tax, Sales Tax|Tags: , , |

Beware Ghost Tax Preparers

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

2021-09-21T01:36:08+00:00February 12, 2019|Categories: IRS, NYS Tax, Sales Tax|

More Companies Hit with Criminal Penalties for Failing to Pay New York Sales Tax

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

2020-09-23T19:33:30+00:00October 10, 2018|Categories: NYS Tax, Sales Tax|Tags: |

Sales Tax Recordkeeping for Restaurants 101: Potential Problems You Need to Know

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

2020-09-23T19:46:26+00:00August 3, 2018|Categories: NYS Tax, Sales Tax|Tags: |

Guest Blog: Why are Merchants Sales Tax Collectors?

David Joseph of DAVO Technologies DAVO Technologies has pioneered the process of “fractional daily funding” with their patented process that uses sales data from a merchant's POS or accounting software to set aside a fixed dollar amount or percentage of daily sales. The companies first app, DAVO Sales Tax automatically collects, files,

2020-09-15T20:40:54+00:00March 21, 2018|Categories: Sales Tax|
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