WTC Records Folder 0123 Clippings label, Sept 2001

NYC 9/11 Public Portal Document

MAR-17-2000 04!26 R.03

immediately. The bill would be effective of Finance has -only] pn%SoNS FOR under current law, the Commissioner due dates for tax limited -aurhoritY-to -extend certaindates; SUPPORT payment the Commissioner returns and certain tax legal action periods of taking administrative or disallowance also cannot extend other protecting an assessment or such as the limitation period for from Commissioner's existing authority differs of a refund. Moreover, the Commissioner has authority under existing on tax to another. Finally, the cause payment penalties where reasonable law to waive late filing and late cannot waive the accrual of Commissioner for the delay is shown, the interest. the Commissioner to postpone for This bill is necessary to authorize time certain tax deadlines for taxpayers a brief, reasonable period of the deadlines due to a disaster declared by who are unable to meet those relief provided by the bill President or Governor. The scope of the' generally the-relief may hi grantedby the State and by Commissioner to provide eiat

-mirrors

The bill would allow the IRS under current laws across all taxes administered by the consistent relief from tax deadlines The Commissioner needs Commissioner other than the tax on real estate. appropriate relief from tax immediate and the flexibility to provide disaster, but the penalty affected by a deadlines for taxpayers adversely relief so granted. abuse of any provisions in the bill will discourage earliest possible favorable Accordingly, the Mayor urges the consideration of this proposal by the Legislature.

Respectfully submitted,

ANTHONY P. PISCITELLI Legislative Representative

Isc/dgb S:Financel5-01 9/24/01

NYC-WTC 000137042