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Posted by Paul Thomas, CPA on April 23, 2008, 9:35 am
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> IIRC, only about 6% of New Yorkers are reporting sales tax on their
> returns. The state is looking at ways to increase this number, but
> wholesale audits of 94% of all filers doesn't seem feasible.
The probability exists that a good portion of these folks purchase
everything from local retailers, paying the state sales tax at that time to
the retailer. But that would leave a better chunk of the 94% that probably
bought something over the internet or through a catalog and bypassed the
state sales tax.
Costs to audit someone -v- the expected return of tax may be a good reason
to avoid wholesale audits for what might amount to a few bucks per taxpayer.
--
Paul A. Thomas, CPA
Athens, Georgia
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Posted by Jessica on April 23, 2008, 2:08 pm
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> That option is not available in NY. A NY amended income tax return
> (IT-150X
> or IT-201X) cannot be used to change the sales tax originally reported.
> You must file a separate use tax form. (ST-140 to pay more; AU-11 to pay
> less) See the instructions on the IT-201X.
>
I looked up ST-140. The value for line 1 is the same as the safe harbor
amount on IT201. But on ST-140 it only covers purchases under $1000; larger
items have to be declared on line 2.
So if I purchased an outofstate item for $1,500, I will end up paying $120
more on ST-140 than on IT201. Do I have it right?
My accountant says he will refile my returns if I want (I also have a
corrected 1099INT and a K1 that came in after the taxes were filed) and I
can fix the sales tax on the amended return. You are telling me he is
incorrect and the sales tax cannot be fixed on a IT201X?
Just want to be sure I have it right.
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
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Posted by Don Priebe on April 24, 2008, 8:43 am
Please log in for more thread options > My accountant says he will refile my returns if I want (I also have a
> corrected 1099INT and a K1 that came in after the taxes were filed) and I
> can fix the sales tax on the amended return. You are telling me he is
> incorrect and the sales tax cannot be fixed on a IT201X?
> Just want to be sure I have it right.
See the instructions for line 59 on page 7 of the IT-201X at
http://www.tax.state.ny.us/pdf/2007/fillin/inc/it201x_2007_fill_in.pdf
--
Don EA in Upstate NY
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
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Posted by Seth on April 23, 2008, 2:48 pm
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>I don't have any experience with NYS auditing tax returns on this issue.
>However, my expectation is that the state could subpeona mail order &
>internet sites for their customer lists & then send out assessments.
If the mail order site doesn't have enough nexus to collect NYS sales
tax, why would it have to comply with a NYS subpoena?
Seth
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Drew Edmundson on April 23, 2008, 3:27 pm
Please log in for more thread options On Wed, 23 Apr 2008 14:48:24 EDT, sethb@panix.com (Seth)
wrote:
>
>>I don't have any experience with NYS auditing tax returns on this issue.
>>However, my expectation is that the state could subpeona mail order &
>>internet sites for their customer lists & then send out assessments.
>
>If the mail order site doesn't have enough nexus to collect NYS sales
>tax, why would it have to comply with a NYS subpoena?
Nexus for legal purposes is typically different than nexus
for income tax purposes which is typically different than
sales tax nexus. Do they have nexus for a subpoena? Sorry
ask a lawyer.
--
Drew Edmundson, CPA
Cary, NC
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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