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IX. PRIORITIES FOR CHANGE: ACTION STEPS

IX. PRIORITIES FOR CHANGE: ACTION STEPS. Facilitator MARIA T. JONES Partner, Kramer, Levin, Naftalis & Frankel, LLP Panelists MARTHA E. STARK Commissioner, NYC Department of Finance PAULINE HYLES Assistant Commissioner, Audit. IX. PRIORITIES FOR CHANGE: ACTION STEPS.

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IX. PRIORITIES FOR CHANGE: ACTION STEPS

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  1. IX. PRIORITIES FOR CHANGE: ACTION STEPS Facilitator MARIA T. JONES Partner, Kramer, Levin, Naftalis & Frankel, LLP Panelists MARTHA E. STARK Commissioner, NYC Department of Finance PAULINE HYLES Assistant Commissioner, Audit

  2. IX. PRIORITIES FOR CHANGE: ACTION STEPS Panelists, continued MICHAEL HYMAN Assistant Commissioner, Tax Policy DARA JAFFEE Assistant Commissioner, Legal Affairs LESLIE ZIMMERMAN Assistant Commissioner, Payment Operations

  3. AUDIT DIVISIONPRIORITIES FOR FY ‘07 • Courtesy calls to taxpayers facing Collections • Case tracking improvements • Auditor training

  4. COURTESY CALLS • Pre-Collections • 8 – 10 weeks after Determination is issued, if no petition has been filed • Advise taxpayer or representative of 90-day period to file petition and consequences of not doing so

  5. CASE TRACKING • Supervisors and managers will receive electronic notification of cases with delayed follow-up. • Plans of action will be developed for each case, including timeframes. • Goal: By July 1, 2007, all audits will be for 2004+.

  6. AUDITOR TRAINING • All tax types • Cross-training • Bank audits done by field teams to reduce audit time

  7. AUDIT PRIORITIES:WHAT WE HEARD TODAY • Use universal ticker symbols to identify companies’ business allocation percentage • Procedure for joint audits • With Legal Affairs, offer clearer guidance and assistance on discretionary adjustments; new form, incl. box-checking for permission?

  8. TAX POLICY DIVISIONPRIORITIES FOR FY ‘07 • Promote initiatives to simplify tax filing, • Analyze and promote measures to modernize City tax system, and • Provide meaningful public information and analysis about the City tax system.

  9. TAX POLICY PRIORITIES:WHAT WE HEARD TODAY • Prepayment Issue: Why must 25% be paid in advance? Research into NYC’s conformity with other states and localities • Legislation: S-Corps vs. LLC; reasonable deduction for partners, and other issues of conformity/fairness

  10. LEGAL AFFAIRS DIVISIONPRIORITIES FOR FY ‘07 • Promulgate new rules for ICIP – Industrial and Commercial Incentive Program • Electronic Filing – RPIE and others

  11. LEGAL AFFAIRS PRIORITIES: WHAT WE HEARD TODAY • Guidance on partner allocation • Research combining hotel and sales taxes • Settlement-offer responses in writing • With Audit, up-front clarification on 1031

  12. PAYMENT OPERATIONSPRIORITIES FOR FY ‘07 • A Simplified 1127 form; • An end-of-year statement of prepayments for General Corporation Tax, Unincorporated Business Tax, and Bank Tax; and • Federal/State/City e-filing project for GCT returns.

  13. PAYMENT OPERATIONSPRIORITIES : WHAT WE HEARD TODAY • Streamlining ICIP, including only one application (Legislative change before law sunsets in June, 2007?)

  14. QUESTIONS?

  15. THANK YOU FOR COMING!

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