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


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.

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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.

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