Tax Controversy & IRS Resolution Services: Insights from Thomson Reuters on NYC’s Pied-à-Terre Tax

Thomson Reuters recently published an article featuring Marisa Friedrich, examining New York City’s continued rollout of its pied-à-terre tax despite an ongoing court challenge.

Friedrich, director of Kaufman Rossin’s Tax Resolution and Advisory practice, said that despite a temporary restraining order, “owners should not assume that enforcement has been permanently halted.” She noted that New York City immediately appealed the order, which stayed its effect, and that the city has indicated it will continue implementing the surcharge during the litigation. “Until the litigation is resolved, owners should continue to evaluate whether the surcharge applies to them, whether they qualify for an exemption and whether they have grounds to challenge the assessment,” Friedrich advised.

Property owners with non-primary New York City residences valued above the surcharge thresholds should assess their exposure now rather than wait for the litigation to resolve. Kaufman Rossin is already fielding questions from owners uncertain how the tax and exemption deadlines apply to them.

Read the full article in Thomson Reuters.