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Ask an Auditor About Residency & Domicile Tax Issues

June 5
June 5, 2019
1:00 p.m. to 2:00 p.m.
Registration for this session is closed.

Tax season is over, but audit season doesn’t end! Join Nishant Mittal, Co-founder of Monaeo, Kristine Bly, former NY State Auditor and current Senior Audit Manager with Hodgson Russ’s State & Local Tax Practice, and Tim Noonan, Leader of Hodgson Russ’s New York State Residency Practice, as they discuss the current trends and general risks around residency tax audits, offer tips and advice to prepare for and fight audits, and take your questions.

Some topics being covered in the webinar:

  • Many state and local tax experts today feel that if you are a high earner and you move from a high-tax state, such as New York or California, there is a 100% chance that you’ll get audited.
  • The risk for residency audit is also very high for high earners that own homes in multiple states and/or frequently travel between states.
  • The statistics around residency audits are alarming. In New York State, for example:
  • There are approximately 3,000 residency audits per year. 
  • More than half of people audited lose their audit battle.
  • The average settlement in a lost audit is more than $144,000, with some settlements reaching into the millions.
  • In a residency audit, the burden of proof is on the taxpayer. It is a “guilty until proven innocent” scenario.
  • Today’s auditors have many sophisticated legal and digital tools at their disposal and taxpayers are ill-equipped to fight back, but this is changing.

Click here to register for this event.