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Amnesty Programs

  • 1.  Amnesty Programs

    Bronze Most Valuable Member
    Posted 02-19-2019 10:01
    Are there any for individuals for amended returns for IRS OR NYS OR NYCUBT currently available?

    I have a client with a significant under reporting on a Schedule C

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    Ira Kriegsman

    IRA D KRIEGSMAN CPA PC
    Woodbury NY
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  • 2.  RE: Amnesty Programs

    Posted 02-20-2019 05:00
    for ny and nyc - go to the voluntary disclosure to save the penalties
    it will take a few weeks for them to get back to you but you will save the penalties
    you will still be on the hook for the interest and everything on the federal


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    Marvin Gruza
    Flushing NY
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  • 3.  RE: Amnesty Programs

    Bronze Most Valuable Member
    Posted 02-20-2019 10:35

    Thank you!

     

     

    Ira D. Kriegsman,  CPA  - Ira D Kriegsman CPA PC, 185 Froehlich Farm Blvd, Woodbury, New York 11797 Tel: 212-972-7365 Fax: 212-202-7732 Cell: 917-833-9636 web site:www.kriegsman.TAX 
    Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, not a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, Ira D Kriegsman CPA PC would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services. 
    PRIVILEGED and CONFIDENTIAL INFORMATION - this communication and any accompanying documents are confidential and privileged. They are intended for the sole use of the addressee. If you receive this transmission in error, you are advised that any disclosure, copying, distribution, or the taking of any action in reliance upon this communication is strictly prohibited. Moreover, any such disclosure shall not comprise or waive the attorney-client or other privileges as to this communication or otherwise. If you have received this communication in error, or you have received this e-mail in error, please notify the sender immediately and destroy this e-mail and /or shred the materials and any attachments. Notification should be either by telephone at (212) 972-7365, or by e-mail at Ira@Kriegsman.Tax. Ira D Kriegsman CPA PC cannot guarantee the integrity of this communication, or that it is free from errors, viruses or interference, as the Internet is not a guaranteed secure environment, and therefore, we cannot ensure that an e-mail is not interfered with during transmission. Thank you.

     






  • 4.  RE: Amnesty Programs

    Posted 02-20-2019 10:39
    IRS First Time Penalty Abatement Program could work too, Mike Jaffe CPA





  • 5.  RE: Amnesty Programs

    Bronze Most Valuable Member
    Posted 02-20-2019 10:48

    Where do I find that?

     

     

    Ira D. Kriegsman,  CPA  - Ira D Kriegsman CPA PC, 185 Froehlich Farm Blvd, Woodbury, New York 11797 Tel: 212-972-7365 Fax: 212-202-7732 Cell: 917-833-9636 web site:www.kriegsman.TAX 
    Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, not a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, Ira D Kriegsman CPA PC would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services. 
    PRIVILEGED and CONFIDENTIAL INFORMATION - this communication and any accompanying documents are confidential and privileged. They are intended for the sole use of the addressee. If you receive this transmission in error, you are advised that any disclosure, copying, distribution, or the taking of any action in reliance upon this communication is strictly prohibited. Moreover, any such disclosure shall not comprise or waive the attorney-client or other privileges as to this communication or otherwise. If you have received this communication in error, or you have received this e-mail in error, please notify the sender immediately and destroy this e-mail and /or shred the materials and any attachments. Notification should be either by telephone at (212) 972-7365, or by e-mail at Ira@Kriegsman.Tax. Ira D Kriegsman CPA PC cannot guarantee the integrity of this communication, or that it is free from errors, viruses or interference, as the Internet is not a guaranteed secure environment, and therefore, we cannot ensure that an e-mail is not interfered with during transmission. Thank you.

     






  • 6.  RE: Amnesty Programs

    Bronze Most Valuable Member
    Posted 02-20-2019 11:04
    Hello Ira:
    First time penalty abatement is an IRS administrative remedy available in limited circumstances.
    For eligibility requirements and details, have a look at Internal Revenue Manual Section 20.1.1.3.3.2.1 (11-21-2017).
    If the taxpayer does not qualify for First Time Abate, there are the usual reasonable cause criteria. 

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    Yvonne Cort
    Partner
    Capell Barnett Matalon & Schoenfeld LLP
    Jericho NY
    ycort@cbmslaw.com
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  • 7.  RE: Amnesty Programs

    Posted 02-20-2019 10:58
    Its my understanding that if taxpayer has been compliant in the past three years with filings,payments etc, 
    a letter could be written to waive certain penalties assessed, please review program at IRS website,
     
    Mike Jaffe CPA





  • 8.  RE: Amnesty Programs

    Silver Most Valuable Member
    Posted 02-20-2019 12:22
    Hello Ira. With regards to amnesty programs, NYS has the voluntary disclosure program. The IRS has penalty abatement either on a first time basis or on the basis of reasonable cause. If you would like to discuss your matter further or if you need any assistance, please do not hesitate to contact us. Good luck!

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    Karen Tenenbaum, Esq.
    Tenenbaum Law, PC
    Tax Attorneys
    534 Broadhollow Rd, Suite 301, Melville, NY 11747
    (631) 465-5000
    ktenenbaum@litaxattorney.com
    www.litaxattorney.com
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  • 9.  RE: Amnesty Programs

    Posted 02-21-2019 18:09
    I would recommend using IRS, NYS and NYC if applicable, voluntary disclosure programs. I work with a great tax attorney who is well versed in these matters and reasonably priced. James Druker, Esq in Garden City 516-746-4300. You can prepare the amended returns for you client under a Kovel agreement, if one is deemed necessary under the circumstances, or another CPA can be the Kovel accountant. Give Jim a call, he is a great guy.

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    Wayne Landau
    Landau & Company CPAs PC
    Garden City NY
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