NYS Abatement of Penalties and Interest re Sales Tax due to Coronavirus (“COVID-19”)

Governor Cuomo has issued an executive order expanding the Tax Commissioner’s authority to abate late filing and payment penalties to also allow the Commissioner to abate interest on quarterly sales and use tax filings and remittances with a due date of March 20, 2020 for those who were unable to timely file and pay as result of the COVID-19 virus, such as: 

·      taxpayers who were unable to meet tax filing, payment, or other deadlines because key employees were treated or suspected to have COVID-19; 

·      taxpayers whose records necessary to meet tax filing, payment, or other deadlines are not available due to the outbreak; 

·      taxpayers who have difficulty in meeting tax filing, payment, or other deadlines because of closure orders or similar business disruptions directly resulting from the outbreak; and 

·    taxpayers whose tax practitioners were unable to complete work to meet tax filing, payment, and other deadlines on behalf of their clients due to the outbreak. 

Returns must be filed and the amount due must be paid within 60 days of the due date for this relief to apply. 

Exception 

Sales Tax Vendors who are required to file returns on a monthly basis and participants in the Promptax program for sales and use tax or prepaid sales tax on fuel are not eligible for this relief. 

How to obtain relief 

Taxpayers seeking interest and penalty abatements for COVID-related filing and payment delays may request relief by visiting the Department’s website at www.tax.ny.gov. From the Department homepage, taxpayers can click on Tax Department response to novel coronavirus (COVID-19) to find instructions on how to apply for relief. 

Alternatively, taxpayers that receive a penalty notice from the Tax Department for failure to file returns or make payments due March 20, 2020, should follow the instructions on the notice to request abatement of interest and late filing or late payment penalties that would otherwise apply. 

Abatements of penalties and rate of interest on late payments not made by the date required by law or not covered by this announcement will be handled on a case-by-case basis. 

NYS Tax Department invites public comment on corporate tax reform draft regulations

They’re at it Again! New York State Department of Taxation and Finance 

https://www.tax.ny.gov/bus/ct/pending/capital%20loss%20reg%206.14.19_.pdf  Selig & Associates is a boutique Tax Representation and Advocacy Firm in New York City. Our Tax Advocates are experienced, effective and results driven. Representing individuals and businesses before the IRS and State. We successfully resolve most Civil and Criminal tax problems including suspended Passports and Drivers Licenses. Specializing in unpaid income, sales and payroll taxes. We provide practical solutions to difficult problems. For example, we negotiate affordable payment plans, and if you have missing or unfiled tax returns, we can have them prepared and filed for you within 48 hours, guaranteed. Our offices are conveniently located and easily accessible by car, train or subway. Same day and emergency appointments are available Monday through Friday between the hours of 9:00 a.m. and 5:00 p.m. Schedule a “face to face” legally privileged consultation with a Federal Tax Practitioner and Attorney by calling (212) 974-3435 or contact us online. Your initial consultation is absolutely FREE.

Insurance Representation We settle first-party insurance claims for Top Dollar. Commercial and Residential insurance representation includes: Environmental Damage, Fire, Business Interruption, Burglary, Vandalism, Windstorm and Water Damage.  To speak with a CPCU, Claims Adjuster and Attorney call (212) 974-3435 or contact us online. 

Doctor Sentenced to Prison for Tax Evasion and Disability Fraud (NOT SMART)

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He Evaded Paying Taxes on Over $1.6 Million in Income While Claiming to be Disabled. A South Florida doctor residing in Hobe Sound, Florida, was sentenced to 51 months in prison yesterday for tax evasion, wire fraud, and Social Security disability fraud, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney Ariana Fajardo Orshan for the Southern District of Florida.According to court documents and information provided to the court, Arthur John Kranz was a doctor specializing in psychiatry. Beginning in 2002, Kranz made a claim on his private disability policy that he was unable to work, and began receiving disability payments from his insurance company. In December 2003, Kranz submitted an application to the Social Security Administration (SSA) for disability benefits The SSA approved his application. Kranz then began receiving SSA disability payments, in addition to the private disability insurance payments. Because of the disability payments, Kranz was required to notify his insurance company and the SSA if he returned to work. From January 2006 to March 2013, Kranz worked as a psychiatrist at a hospital in Pennsylvania and earned over $1.6 million in income. Kranz did not report his employment to either the SSA or his insurance company. Rather, in order to continue collecting disability benefits, Kranz took steps to conceal his income from the insurance company, the SSA, and the Internal Revenue Service (IRS). He directed that his income be paid to nominee individuals and sham corporations he had created to receive his payments. Kranz also filed false personal tax returns that did not report the income from his work as a psychiatrist, and provided fraudulent documentation to his insurance company that falsely stated that he was not working. In addition to the term of imprisonment imposed, Kranz was order to serve three years of supervised release and pay restitution of $1,013,284.

New York City Tax Accountant and Tax Attorney Discuss your tax problem with an experienced Tax Accountant and Attorney today. Our civil and criminal tax consultations are confidential and legally privileged. Same day and emergency appointments may be scheduled Monday through Friday. Our New York City offices are conveniently located and easily accessible by car, train and subway. For immediate assistance call (212) 974-3435 or contact us online. 

Restaurant Sales Tax Accountant and Tax Attorney We negotiate excellent installment agreements and provide restaurants with effective audit representation, including unfiled tax returns and all Department of Labor issues. For a no-obligation consultation call us directly at (212) 974-3435 or contact us online.

Business Payroll Tax Accountant and Tax Attorney We negotiate affordable repayment plans and provide our business clients with effective audit representation, obtaining government contracts with a tax lien, compliance checks, missing tax returns and Workers Compensation audits. For immediate assistance call (212) 974-3435 or contact us online. 

Commercial Insurance Consultant and Attorney We assist businesses, nightclubs, schools and religious institutions with their specialty insurance needs including: Active Shooter and Workplace Violence Insurance Protection; Cyber Insurance, Sexual Harassment and Employment Practices Liability Insurance. For more information call us directly at (212) 974-3435. 

Property Insurance Claims We settle commercial property insurance claims, including business interruption, burglary, fire, windstorm and water damage for top dollar. To discuss your insurance claim with a Public Adjuster and Attorney call (212) 974-3435 today. 

New York State is Cracking Down on Tax Evaders and Welfare Cheats

District Attorneys in 29 Counties Awarded Grant Funding Through the State's "Crimes Against Revenue Program"

Governor Andrew M. Cuomo today announced more than $13.5 million in grants has been awarded to 29 district attorneys' offices statewide to continue the enhancement of their investigation of state tax evasion and welfare fraud cases. The grants are made available through the state's Crimes Against Revenue Program, which is supported by proceeds from investigations and subsequent prosecutions that result in tax revenues, fines and restitution being paid to the state.

"New York State has zero tolerance for theft of any kind from hardworking men and women and we will continue to do everything in our power to crack down on those who cheat the system," Governor Cuomo said. "This funding will assist prosecutors across the state protect New Yorkers and hold responsible individuals accountable."

CARP, a joint initiative of the State Department of Taxation and Finance and the Division of Criminal Justice Services, targets individuals who deliberately fail to pay tax obligations, as well as those who commit Medicaid, welfare, unemployment and workers' compensation fraud. The Department of Tax and Finance serves as the program expert by providing technical assistance and helping to identify cases for investigation while the Division of Criminal Justice Services administers the grant funding.

The grants fund personnel, including forensic accountants, investigators and assistant district attorneys, who work to build cases for prosecution. CARP investigations focus on the failure to pay any type of taxes, such as excise, sales, and income, by individuals, corporations or industries which can include complex financial fraud and tax evasion schemes orchestrated by major criminal enterprises.

Division of Criminal Justice Services Executive Deputy Commissioner Michael C. Green said, "Since it was established in 2004, CARP has continued to provide district attorneys across the state with the funding necessary to help them investigate and prosecute these often complex and specialized cases. We are proud to be a part of these collaborative efforts to identify and prosecute these individuals who are looking to cheat the system and honest taxpayers of New York State."

Department of Taxation and Finance Acting Commissioner Nonie Manion said, "CARP puts more muscle into our criminal investigations, helping us strengthen the productive partnerships we've built with local law enforcement organizations. It's an important element in the agency's vigilant and continuous effort to bring tax cheats to justice."

The 29 county district attorneys' offices receiving grants announced today have been funded through the Crimes Against Revenue Program since 2016. While only those offices were eligible to apply for funding, they were not guaranteed the same amount they had previously received. The grants align with the calendar year ending in December 2019 with optional renewals for up to two additional years.

New York City 

·      Bronx: $692,300

·      Kings (Brooklyn): $802,600

·      New York (Manhattan): $5,000,000

·      Queens: $1,491,400

·      Richmond (Staten Island): $256,210

Long Island

·      Nassau County: $633,399

·      Suffolk: $1,605,500

Mid-Hudson

·      Orange: $112,810

·      Rockland: $357,600

·      Ulster: $143,600

·      Westchester: $278,100

Capital Region

·      Albany: $299,710

·      Rensselaer: $102,800

·      Saratoga $118,900

·      Schenectady: $130,000

·      Warren: $59,600

·      Washington: $36,200

Mohawk Valley

·      Montgomery: $28,600

·      Oneida: $160,878

Central New York

·      Cayuga: $80,000

·      Madison: $67,000

·      Onondaga: $111,110

Southern Tier

·      Chemung: $64,170

·      Steuben: $40,400

Finger Lakes

·      Ontario: $92,100

·      Monroe: $208,000

Western New York

·      Chautauqua: $65,000

·      Erie: $414,100

·      Niagara: $68,810

The New York State Division of Criminal Justice Services (www.criminaljustice.ny.gov) has a variety of responsibilities, including law enforcement training; collection and analysis of statewide crime data; maintenance of criminal history information and fingerprint files; administrative oversight of the state's DNA databank, in partnership with the New York State Police; funding and oversight of probation and community correction programs; administration of federal and state criminal justice funds; support of criminal justice-related agencies across the state; and administration of the state's Sex Offender Registry.

The New York State Department of Taxation and Finance (www.tax.ny.gov) annually processes 25 million tax returns and collects more than $90 billion in annual state and local revenue.

Are You in Trouble with the IRS and State? To schedule a free, legally privileged consultation with a Federal Tax Practitioner and Attorney in our conveniently located New York City office, call (212) 974-3435 or contact us online. *Same day and emergency appointments are available Monday through Friday. 

✔  Unpaid income, sales and payroll taxes. 

✔  We negotiate excellent re-payment plans with the IRS and State.

✔  Missing tax returns prepared and filed within 48 hours, guaranteed. 

✔  Suspended passport / suspended drivers’ license.

✔  Civil and criminal tax representation. 

✔  Income and sales tax audit. 

✔  Department of Labor.

✔  Workers Compensation.

Does Your Business Need Money For Taxes and Expenses? Our affiliates provide excellent insurance and debt settlement options, including business and insurance financing, merchant funding, lines of credit and factoring. Call (212) 974-3435 for a free consultation.  

Money Money Money

In a nutshell, a Merchant Cash Advance is financing based upon your businesses future credit card receivables. Merchant financing is repaid on a daily basis as a percentage of your credit card sales. Accordingly, if your credit card sales are high, your advance is repaid quickly. Conversely, if your credit card sales are low, your repayment is low. Use the money to:

• Buy Inventory 
• Pay Sales Taxes
• Buy Equipment 
• Advertising 
• Short-term capital
• And much, much more. 

Easy Financing

Borrow up to 250% of your monthly credit card sales volume in one lump sum. Use the money to pay your taxes or buy inventory. 

Fast Approval

Apply online or over the phone in minutes, get approved in 24 hours and receive funds one day later.

Flexible Re-Payment Schedule

Payments are based on a percentage of daily credit card sales. Easy-peasy.  

Getting Started

To get started, you’ll need to provide us with four things:

1. A copy of your Government-issued photo ID
2. A voided check from your business checking account
3. The last four statements from your business bank account
4. The last four credit card-processing statements

For more information, call David Selig at (212) 974-3435