Monday, October 20, 2008

The Taxman Means Business

Either overdue sales taxes will be collected or business owners theselves may be collected … for prison. Local pizzeria owners, used-car dealers and other city business owners dealing primarily in cash, "be on the alert." You’ll soon feel the heat of the taxman and a new force of 125 investigators, auditors and lawyers. It's all part of the state’s new Special Investigation Unit. 10,000 warning letters have been sent requesting money owed. Many small business owners believe these are merely “scare tactics.” They shouldn’t be so sure. Delinquent business taxpayers will no longer be tolerated by New York State. The letters offer a second chance to meet their responsibilities. Penalties will be waived for those who come clean now. All New Yorker's must pay taxes. Business owners hiding currency in their books or at home "under the mattress" risk seeing an “Under New Management” sign in their windows.

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