|
Posted by Paul Thomas, CPA on October 21, 2006, 6:33 pm
Please log in for more thread options
> I've got a question that you might be able to help with.
>
> A few years ago a friend moved from Illinois to California.
> During that same year her father died in New York.
>
> As a result of his death, my friend and her two sisters
> inherited Dad's house, which was sold. Profit over
> (stepped-up) basis was $10,000. None of the sisters live in
> NY, and no NY income tax returns were filed.
>
> Now NY says that they want tax returns. Should they be
> filed?
Oh yeah. New York (as with other states) will be aggressive
about it.
Get return(s) prepared and filed and pay the tax and
interest, but beg for the penalties to be abated. They
might do that given the circumstances.
--
Paul Thomas, CPA
paulthomascpapc@bellsouth.net
<< ======================================================= >>
<< 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 (2006) - All rights reserved. >>
<< ======================================================= >>
| 
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap