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Significant changes in Documentation, Due Diligence, and Filing deadlines

NEW NYS Mandatory e-filing requirement: In addition to NYS making e-filing mandatory, we CANNOT E-file your return without supplying NYS with a valid NYS ID number from a driver’s license or NYS state issued ID. If you reside out of NYS but are required to file a non-resident return you will still have to supply your home states ID.

IF you are receiving any refundable credit, IE: EIC, Education Credits, or additional CTC, you WILL NOT receive your refund before 02/15/xx

  • Partnership Return now due 03/15/xx
  • “C” Corporations now due 04/15/xx
  • FBAR now due 04/15/xx

Education Credits

1098-T Form has changed: IF applying for this credit, we cannot complete your return without this form along with proof of payment to college (college can provide)


Foreign held assets over and under $10,000

  • If you have any assets overseas, I.E. savings, stocks, checking, investments. They must be disclosed on your tax return.
  • If over $10,000, a separate filing (FBAR) is required.
  • If over $10,000, you must bring in the NAME, ADDRESS, AMOUNT, for each institution.

New York State Sales Tax

As a Reminder:

  • If you purchase goods outside of NYS, and “USE” them in NYS, you are subject to a sales and use tax on your NYS Income Tax.

Earned Income Credit

If you receive the Earned Income Credit (EIC), the IRS has new requirements:

  • Proof of Childs residency
  • School record
  • Doctors note
    • *Either must have the child(rens) name and address
  • Birth Certificate
  • Social security card(s) Must have same name on birth certificate.

**** The EIC is being highly audited and you must be able to provide the above documents. As your Tax professional, we ask that you be able to provide these to us for your protection. ****

Virtual Currency

At any time in 20xx, did you receive, sell, exchange or acquire any financial interest in any virtual currency?

If so, please bring documentation or be able to explain what transpired in 20xx