Many taxpayers are unaware of enforcement procedures that can be used against them to collect back taxes. The difference between how New York and the IRS collect on that money may not seem crucial. However, it is important to understand how New York State tax warrants and federal tax liens work in order to avoid them or take appropriate steps to challenge them. [Read more…]
The New York State Department of Taxation and Finance (“DTF”) is entering the 21st century with improved online offerings for both taxpayers and tax professionals. On June 27, 2017, the DTF released a new and greatly simplified Power of Attorney form, which may be filed online as well as on paper. The new form, reduced to one page from four, eliminates the requirement of notarization and requires only the taxpayer’s signature, not those of the representatives. Furthermore, the new form, when filed, only revokes existing powers when explicitly indicated, a change that should ease the process of adding additional representatives on to an existing power. However, the transition to the new form does involve some complications of which practitioners should be aware. [Read more…]
Are restaurants shut down for unpaid taxes more often than other businesses? A recent article in the Albany Times Union looked at the high number of restaurant closings every year for nonpayment of sales or withholding taxes.
Why are restaurants seized so often? Constant cash flow issues and low profit margins characteristic of the industry can make it hard to stay on top of sales tax payments. Unfortunately, if restaurant owners fail to address their tax issues promptly, they risk losing their businesses. In addition, they may find themselves with personal liability for unpaid taxes as a “responsible person” under sales tax laws. [Read more…]
By: Jeffrey Naness
Employers of all sizes should start preparing for New York’s Paid Family Leave Benefits Law (the “NYPFL Law”).
The NYPFL has two components, (1) a provision entitling employees to (partial) wage substitutes while they are out on a covered leave and (2) a requirement that employers permit employees to take leave for reasons covered by the NYPFL. [Read more…]