Residency Rules in New York: Tax Issues and Audits (Completed)

Date: Monday, November 11, 2019
Instructor: Timothy Noonan
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Navigate the Dangerous Waters of New York Residency Tax Audits
The New York State Department of Taxation and Finance has the most advanced and aggressive residency audit program in the nation. Auditors are constantly on the hunt for revenue by pursuing non-residents for New York taxes.

This two-hour CPE webinar will help you understand the rules, requirements, and issues in working through New York's residency tests and associated personal income taxation. Timothy Noonan, Esq., a highly regarded New York tax practitioner and co-author of the New York Residency and Audit Allocation Handbook, will provide a practical review of the residency fundamentals for NY residents (and nonresidents) and offer helpful insights gained from his personal experience working with clients into the audit process itself. Mr. Noonan will describe best practice strategies for achieving a successful outcome for your clients.

With the loss of the SALT deduction as part of federal tax reform, more taxpayers are attempting to change their residency status — and, consequently, there will be a lot more audit activity in this area. A working knowledge of how New York's complex residency rules work is absolutely critical for tax practitioners, business owners, executives, and other professionals that deal with tax issues for high net-worth individuals. There have been several new cases and rulings in the residency area in New York. Mr. Noonan represented the taxpayer in the recent Gaied decision, a landmark decision issued by New York's highest court, and he'll talk about that taxpayer victory and its ramifications at length.

All CPAs, enrolled agents, tax return preparers, tax attorneys, and other practitioners who prepare New York returns and/or are responsible for preparing multistate returns for clients or advise on cross-border tax issues or disputes will benefit from this insightful webinar.

Who Should Attend
All CPAs, enrolled agents, tax return preparers, tax attorneys, and other practitioners who prepare New York returns and/or are responsible for preparing multistate returns for clients or advise on cross-border tax issues or disputes will benefit from this insightful webinar.

Topics Covered

  • Overview of New York's residency tests
  • New York's Audit Guidelines and Residency Audit Program
  • Review of recent cases and rulings, including the Gaied decision
  • The nuts and bolts of a residency audit
  • Income allocation issues for nonresidents

Learning Objectives

  • Define New York's residency requirements
  • Describe the New York Department of Taxation and Finance residency audit program and process
  • Identify key issues facing New York residents and nonresidents and strategies to defend positions in case of audits

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of state personal income taxes

Advance Preparation
None

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