NYS Tax Department: Tax Professional Newsletter 08/26/2019

New York State Department of Taxation and Finance sent this bulletin at 08/26/2019 09:05 AM EDT

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Tax Professional Newsletter 08/26/2019

View new driver’s license suspension exemptions

 

If your client has at least $10,000 in past-due tax liabilities, the Tax Department is permitted by law to recommend the suspension of their New York State driver's license.

 

Effective July 11, 2019, the New York State Tax Law was amended to include exemptions for taxpayers who: 

  • receive public assistance benefits as defined by the New York State Office of Temporary and Disability Assistance (OTDA);
  • receive Supplemental Security Income (SSI), a federal program designed to help aged, blind, and disabled persons with little or no income; or
  • demonstrate to the department that the suspension of their driver's license will cause undue economic hardship.

For more information, see Driver's license suspension.

Access and perform certain services on your client’s behalf

 

There’s no faster, more convenient way to handle your client’s tax matters than with an E-ZRep Form TR-2000, Tax Information Access and Transaction Authorization. With a TR-2000, your client can authorize you to:

  • access their confidential tax information online;
  • speak to Tax Department representatives about their confidential tax information; and
  • conduct transactions on their behalf through your Tax Professional Online Services account.

For more information, see E-ZRep Form TR-2000. (If you don’t already have a Tax Professional Online Services account, you’ll need to create one.)

Respond to a notice (Form TR-210) about a credit balance

 

If our records indicate your client did not file an income tax return in 2016 and they have a credit balance, they may receive Form TR-210.

 

In some instances, your client may be entitled to a refund.

 

To claim a refund, your client must file a tax return. Visit our Filing season resource center to learn about filing.

Upcoming due dates

09/16:

  • personal income tax (and MCTMT if applicable) estimated tax payments
     
  • New York S corporation return for calendar year filers who requested an extension

  • corporation tax (New York C corporation and New York S corporation) estimated tax payments for calendar year filers

  • partnership and LLC estimated tax payments (NYS and MCTMT if applicable) (for payments required to be made on behalf of nonresident partners and members and C corporations)

  • S corporation estimated tax payments (for payments required to be made on behalf of nonresident shareholders)

  • partnership returns  for calendar year taxpayers who requested an automatic six-month extension to file

09/20:

  • sales tax returns for quarterly filers

  • sales tax returns for monthly filers

Stay on top of due dates; bookmark our tax calendar.

 

Visit View demos and videos to watch our demos and to learn more about our online services.

Contact us

Tax Practitioner Hotline: 518-457-5451

 

Resource center: Tax professionals home

Compute a penalty for underpayment of estimated income tax

 

If your client did not pay enough estimated tax or did not have enough New York State, New York City, or Yonkers income tax withheld, they should compute a penalty when filing their personal income tax return. If they don’t, they may receive a penalty assessment. For more information, see Form IT-2105.9-I, Instructions for Form IT-2105.9, Underpayment of Estimated Tax by Individuals and Fiduciaries.

Register as a vapor products retail dealer

 

Does your client sell vapor products at retail locations or through vending machines? Effective December 1, 2019, a new 20% supplemental sales tax will apply to retail sales of vapor products in New York State. If your client sells or plans to sell vapor products on or after December 1, 2019, they must register online with the Tax Department before selling those products. Our application to register as a vapor products dealer will be available in October 2019 through their Business Online Services account.

 

To keep up to date as we provide additional content about the new supplemental tax and launch our Web application, we encourage you to update your subscription preference to include our cigarette, tobacco, and vapor products taxes; visit Vapor products.

Visit the Tax Department booth at the New York State Fair 

 

The Tax Department will be sharing valuable tips and information for you and your clients at the New York State Fair. Visit booth 200 in the Center of Progress building for tax basics that will help your clients, including homeowners, seniors, college students, self-employed individuals, and farmers. We’re here to help.

Keep up with tax changes

 

The Tax Professional Newsletter is a monthly summary of recent changes, new information, and reminders. To receive updates about specific taxes or topics as we announce them, subscribe to more Subscription Topics. We’ll share links to new resources and provide tax tips as they become available.