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New York State Change in Business Tax E-File Mandate for Tax Preparers

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Beginning on January 1st, 2011, tax return preparers must e-file all general business and New York State S corporation returns, extensions, monthly sales tax returns and PrompTax sales tax returns.

Clients will no longer be able to opt-out of e-filing. Therefore, Form TR-800 Taxpayer Opt-Out and Reasonable Cause Record for Tax Return Preparers will be eliminated. If there is a reasonable cause not to e-file, then adequate documentation must be obtained and provided to the NYS Department of Taxation and Finance. This mandate applies to all preparers, even ones located outside of New York State.

Taxpayers can pay balances due on an e-filed corporation tax return or extension for the 2010 tax year with a voucher and check, direct debit from a bank account, or an ACH credit initiated by the taxpayer from their bank account.

Although New York State does not support the e-filing of certain corporation income tax returns, the extension for those returns must still be e-filed if supported by the preparer’s software.

For sales tax returns, an Online Services account can be created at http://www.tax.state.ny.us/online/tp.htm and access granted to client accounts. Once logged in, users should select Sales Tax Web File.

For every e-fileable return or extension that fails to be e-filed, a $50 penalty will be imposed unless reasonable cause applies. A $500 penalty will be assessed for the first time a separate e-file fee is charged and a $1,000 penalty will apply to each subsequent occurrence. This penalty will apply to all tax returns filed after December 31, 2010.

Please contact your Marcum SALT Group representative should you have any questions.

 
 
 
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