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Decoding the gray areas of SALT penalty standards
In this episode of the SALT Shaker Podcast, SALT Counsel Jeremy Gove and Chelsea Marmor dive into the nuanced world of state and local tax penalties. They explore why penalty abatement standards, such as "reasonable cause" and "ordinary care," remain ambiguous despite the frequent appearance of penalties in tax assessments. With limited statutory and case law guidance, these standards often leave taxpayers navigating uncertainty. Their discussion highlights: New York's penalty framework and how it compares to other states Practical defenses for abating penalties, including their self-coined…
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