Jay Brower featured in Bloomberg LawFeatured: James (Jay) M. Brower, Jr. | August 30, 2021
A Bloomberg Law article on a recent guidance from the New York Department of Taxation about a workaround for the New York SALT cap includes observations from James Brower, Partner, State and Local Tax Leader. The article shares that some taxpayers are not being provided a reprieve on estimated taxes, setting up a situation for delayed refunds. Brower states in the article that the delay in refunds was set up by initial legislation:
The New York Department of Taxation had its hands tied on the estimated taxes issue, said James Brower, state and local tax leader and a partner at Marks Paneth Accountants and Advisors in Philadelphia. “That’s something that the legislature put into the statute, and they can’t choose to ignore the letter of the law. It was almost certainly put in there as a money-grab, albeit a temporary one.”
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About James (Jay) M. Brower, Jr.
Jay Brower, CPA, is a Partner of corporate and individual tax compliance and research services at Marks Paneth, LLP. He has more than 20 years of professional experience at the federal, state, and local levels. Mr. Brower's duties also include the development of tax planning and implementation strategies, as well as education and development of the firm's professionals. Mr. Brower provides tax planning and compliance services to clients in the manufacturing, commercial fishing, telecommunications, professional... READ MORE +