Tax Resolution Services: Insights from Fortune on the Pied-à-Terre Tax Rollout
Fortune recently published an article featuring Marisa Friedrich, examining what a court-ordered pause on New York City’s pied-à-terre tax rollout means for affected homeowners.
“For the moment, the TRO pauses enforcement of the pied-à-terre tax and orders the City to take down the affected tax roll, but the underlying law remains valid,” Friedrich said. “While the next formal court proceeding is set for August 31, taxpayers face ongoing uncertainty as the City actively appeals to lift the temporary pause.” She added that “the TRO is a temporary pause, not a determination that the surcharge is invalid or that it will never be collected,” and cautioned that “owners should not assume the issue has gone away.”
The city’s appeal automatically stayed the judge’s restraining order, so the pied-à-terre rollout can continue while litigation plays out. For owners of second homes valued at $5 million or more, that means the exposure hasn’t gone away — it’s on pause, and planning ahead of the August 31 hearing is still the prudent move.
Read the full article in Fortune.
Want to explore how the pied-à-terre tax could affect your business? Connect with our Tax Controversy & IRS Resolution Services team to learn more.
Marisa Friedrich Tax Director at Kaufman Rossin, one of the Top 50 CPA and advisory firms in the U.S.
