MoFo New York Tax Insights - Volume 2, Issue 10 - October 2011

more+
less-

In this issue: Peter Madoff Petition Dismissed as Untimely; Update on Partial Relief from Responsible Person Liability; ALJ Finds Audit Unreasonable; Revised Guidance on City Transfer Tax Rates; and Insights in Brief.

In a reminder of the strict jurisdictional rules governing challenges to assessments, a New York State Administrative Law Judge has dismissed a petition filed by Peter Madoff seeking to challenge a responsible person assessment for nearly $1 million in allegedly unpaid sales and use tax. Matter of Peter Madoff, DTA No. 823411 (N.Y.S. Div. of Tax App., August 25, 2011).

A Notice of Determination dated May 4, 2009, arising from a sales tax audit of Bernard L. Madoff Investment Securities, LLC, was issued to Peter Madoff and, according to the Department, mailed to his home address. Mr. Madoff claimed he never received the Notice, and that the first knowledge he had of the assessment was a Notice and Demand dated August 27, 2009. On September 3, within a week of receipt of the Notice and Demand, Mr. Madoff’s representative filed a request for a conciliation conference, which was dismissed as untimely, since it had not been filed within 90 days of the May 4 Notice date.

Please see full publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Administrative Agency Updates, Business Organization Updates, General Business Updates, Residential Real Estate Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

CONNECT

Morrison & Foerster is an international firm with more than 1,000 lawyers across 15 offices in the... View Profile »


Follow Morrison & Foerster LLP:

Reporters on Deadline