New York Residency Audit Update New York continues to focus on residency audits as a means of raising revenue. A residency audit can result in the taxation of an individual’s income from all sources rather than only from New York sources. Resident status in New …
Continue reading → Contesting Unreasonable Apportionment Formula Results State apportionment formulas historically consisted of property, payroll and receipts factors. Throughout the years, many states adopted variations such as single-factor receipts formulas, often accompanied by complex sourcing rules. Some states have more than one apportionment formula, and different apportionment …
Continue reading → Early 2018 Tax Amnesty Update Happy New Year to all. As we ease into 2018, there are some tax amnesty matters for taxpayers to immediately consider. As covered in greater detail previously in our 2017 Tax Amnesty Update newsletter (available at www.genetelli.com), Rhode Island’s tax …
Continue reading → 2017 Tax Amnesty Update There has been a recent uptick in tax amnesty activity. Taxpayers should be aware of the following potential opportunities. Oklahoma is currently offering a voluntary disclosure initiative that runs through November 30th. Benefits of the initiative include the waiver of …
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