Governor Cuomo Announces New Measures to Mitigate Tax Fraud are Included in FY 2021 Executive Budget

Posted to Applied Web NY on Thu, 01/30/2020 - 13:42

Governor Andrew M. Cuomo today announced the FY 2021 Executive Budget includes new measures to mitigate tax fraud and crack down on bad actors in the tax preparation industry.

These proposed reforms come as New York has seen a rise in the number of "refund mills" where unscrupulous tax preparers file fraudulent returns to receive fraudulent refunds. While the Tax Department is often able to identify these schemes and prevent fraudulent refunds from being issued, the new measure will punish these preparers and protect unwitting taxpayers who ultimately are liable for the underreported taxes, interest, and penalties.

Bulletin assigned to: