Tax Professional Newsletter (03/25/2019)

Reminder to update your tax preparation software

Remember to update your tax preparation software whenever a new version becomes available; outdated software can result in:

• rejected returns,
• computational errors,
• adjusted refunds, or
• erroneous assessments.

Requests for additional information

We may ask for documentation to support claims on your client’s return. For example, we send letters requesting specific wage and withholding documentation when there is a discrepancy between the amounts your client reports and the amounts their employer or financial institution reports.

This can happen if:

• one or more employers or financial institutions do not report your client’s information, or
• your client does not include one or more W-2s or 1099-Rs.

The best way to submit a complete response is online; visit Respond to your letter and Recordkeeping for individuals to learn how. You will receive a confirmation email after you respond.
 
Note: Do not mail or fax the same information; duplicate responses delay processing.

Enhanced STAR Income Verification Program (IVP) update

If your client has applied for the Enhanced STAR property tax exemption but is not income eligible, they will receive a denial letter. For general information, visit Enhanced STAR Income Verification Program (IVP).

Examples of our denial letters:

• income exceeds the $86,300 Enhanced STAR limit
• income exceeds the $500,000 Basic STAR limit

New resources for wage and withholding filers

We’ve updated our resources to help you better serve your clients. View our online publications and other resources:

• Publication 69
• Publication 911
• Filing reminders for Forms NYS-45 and NYS-45-ATT

Upcoming due dates

4/15/18:

• New York C corporation tax returns for calendar year filers
• personal income tax and fiduciary tax returns for calendar year filers
• personal income tax (and MCTMT, if applicable) estimated tax payments
• partnership and LLC estimated tax payments (New York State 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)