Taxation

  • State Tax Department Simplifies Power of Attorney Form, Process Issues

    By:
    New York State Department of Taxation and Finance
    |
    Aug 8, 2017
    Based on feedback from tax professionals and taxpayers, the New York State Department of Taxation and Finance recently revised Form POA-1, Power of Attorney, and implemented a power of attorney (POA) web application to make it easy to file. The changes are part of the department’s ongoing effort to make its forms more user-friendly and to enhance its operational efficiency.
  • Preparing for tax reform under President Trump

    By:
    Chris Gaetano
    |
    Jan 26, 2017

    With President Donald Trump now in office, what’s probable, according to tax planners in New York, is that there will be reform in taxes—from income and capital gains to estate and corporate—and taxpayers should prepare for several changes. 

  • Avoiding e-file penalties this tax season

    By:
    |
    Feb 11, 2016
    Prior to tax season, several NYSSCPA members expressed frustration and confusion on the Society’s Exchange Open Forum after the New York State Department of Taxation and Finance (NYSDTF) penalized them for filing paper returns on behalf of their clients—sometimes, they said, for situations that were beyond their control.
  • IRS turns to private debt collectors in selected cases

    By:
    Chris Gaetano | Trusted Professional Staff
    |
    Feb 11, 2016
    Owe the IRS money? Recent legislation shows that back taxes might be pursued not by the government but by a private debt collection agency, marking the third time since 1996 the government has launched such a program. 
  • NYSSCPA Kicks Off Get Money Smart Campaign at NY Public Library

    By:
    Maya Lindsay
    |
    Oct 27, 2015

    NYSSCPA member volunteers shared their expertise with more than 150 area residents on Friday at the New York Public Library’s (NYPL’s) annual Financial Planning Day, an eight-hour event open to the general public featuring financial planning seminars and access to regulators, nonprofits, state and local governments and other groups who can aid New Yorkers looking to increase their financial acuity. The event took place at NYPL’s Science, Industry and Business Library on 34th Street in New York City.


  • It’s Time: Society Urges IRS to Make Changes to 41-Year-Old Form 990-PF

    By:
    Chris Gaetano
    |
    Aug 17, 2015

    Form 990, which tax-exempt organizations are required to file annually, was dramatically redesigned in 2008 to account for the changing needs of its users. However, the less-often filed Form 990-PF, which tax-exempt private foundations and nonexempt charitable trusts are also required to submit, remains unchanged; it’s the same form the IRS rolled out in 1974, the year President Nixon resigned from office.

  • IRS Hoping to Use Web to Meet Budget Challenges, But Security an Issue

    By:
    Chris Gaetano
    |
    Jul 24, 2015
    Fresh off a tax season that the IRS itself has characterized as miserable, with the strapped service able to field just a fraction of the calls it received, an official speaking at the Foundation for Accounting Education’s IRS Practice and Procedures Conference said the agency was trying to find ways to work better with its diminishing resources.
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