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…]
Modern technology has made information sharing agreements by tax agencies easy and cost effective. Both federal and state governments can seek data from other agencies and no longer have to rely solely on their own resources to uncover information about individuals and businesses. For example, when a taxpayer is audited by the IRS, the IRS electronically provides information about any adjustment to the states so they can take action against taxpayers if appropriate. [Read more…]
The New York State Department of Taxation and Finance has introduced a new “Quick Pay” app to help people pay their tax debt. More than 2,600 payments, worth $2.5 million, were made in the first four months.
The app lets you pay directly from your bank account for free. In order to use Quick Pay, you will need your case number from your bill or notice and the following information from an income tax return for one of the last four years: [Read more…]
Are you personally responsible for taxes owed by your employer’s business?
Many people are surprised to learn that there are circumstances when New York State is permitted to collect a business’s withholding tax and sales tax from responsible persons at the organization. Individuals who are notified that they are being held personally responsible for taxes often try to argue “it wasn’t me” and point fingers at someone else. However, that argument doesn’t necessarily work so it’s important to know the rules. [Read more…]