Tax Professional Newsletter (02/28/2019)
Review your client’s tax account balance before you file
Discrepancies in tax accounts and reported amounts delay return processing. Use your Tax Professional Online Services account to view estimated tax payments, amounts carried forward from a prior tax year, and extension payments, if any. For more information, visit Review your tax account balance before you file.
If your records disagree with the estimated tax amounts shown, complete and submit Form IT-2105.1, Reconciliation of Estimated Tax Account for Individuals, by April 1.
File extensions electronically
Your client’s extension request can be filed using:
- Commercial software
- Our online extension tool (no account needed if no payment is required)
- Tax Professional Online Services account with authorization.
If you are subject to the e-file mandate, you must file client extensions electronically.
Important changes for 2019 wage reporting
Effective for calendar quarters beginning on or after January 1, 2019:
- You must complete all of Part C, Employee wage and withholding information, including columns d and e, each calendar quarter for all employees.
- The penalty for failing to complete Part C, columns d and e, was amended to allow imposition on a quarterly basis.
Prior to this change, you were only required to complete Part C, columns d and e annually, or on the last return for the calendar year.
For more information, visit New wage reporting requirements for employers.
Congestion surcharge registration and filing
The New York State Supreme Court lifted a temporary restraining order on congestion surcharge on January 31, 2019; congestion surcharge collection began 12:01 a.m. February 2, 2019. See N-19-2, New York State Supreme Court Lifts Temporary Restraining order on Congestion Surcharge, for more information.
Note: If your client uses an agent, the agent should not register or file for your client unless they add the agent as a user on their Business Online Services account.
New guidance
- TSB-M-19(1)C, New York State Tax Treatment of Repatriation, Foreign-Derived Intangible Income Deduction, and Global Intangible Low-Taxed Income for Businesses
This technical memorandum generally explains the impact of these federal changes, as well as related changes enacted in the 2018-19 New York State budget, on businesses. - TSB-M-19(1)I, New York State Tax Treatment of Repatriation and Global Intangible Low-Taxed Income for Individuals and Fiduciaries
This technical memorandum generally explains the impact of these federal changes, as well as related changes enacted in the 2018-19 New York State budget, on individuals and fiduciaries.
Requests for additional information
We may ask for documentation to support claims on your client’s return. It doesn't necessarily mean that anything is wrong. It's just an extra step we take to ensure refunds go out to only those who are entitled to them.
To submit a complete response to your client’s letter, visit Respond to your letter and Recordkeeping for individuals.
New in Online Services: View and cancel scheduled payments for corporation tax and other taxes
We've improved how you view and cancel scheduled payments for certain taxes and fees. You can now:
- view and cancel scheduled corporation tax payments, and
- choose View and cancel other scheduled tax payments from the ≡ Services menu (under Other taxes) to view and cancel a scheduled payment for highway use tax, IFTA, waste tire management fee, petroleum business tax, wireless communications surcharge, and congestion surcharge.
Upcoming due dates
03/15/2019:
- New York S corporation tax returns for calendar year filers
- MFI of estimated tax for New York S corporations with returns or extensions for calendar year filers
- MFI of estimated tax for New York C corporations with Form CT-300 for calendar year filers
- partnership, limited liability company, and limited liability partnership filing fee for calendar year filers
- partnership returns for calendar year filers
03/20/2019: sales tax returns for monthly, quarterly, and annual filers
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