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What you need to know for 02/21/2017

NY reports collecting $3.9B in evaded taxes

NY reports collecting $3.9B in evaded taxes

New York officials report collecting $3.9 billion in evaded taxes over the past year, an increase of

New York officials report collecting $3.9 billion in evaded taxes over the past year, an increase of about $200 million or five percent over the prior year.

The Department of Taxation and Finance says about 96 percent of the roughly $87 billion it collects in state and local taxes each year is remitted voluntarily by taxpayers.

Enforcement programs collect the balance, including $1.75 billion last year from audits and criminal investigations.

About $800 million was collected for local governments in the 2013-14 fiscal year that ended March 31.

The department says it also works with taxpayers to resolve debts and establishes payment arrangements.

Under a new program, the state reports suspending more than 8,100 driver licenses, resulting in full payments by some 7,000 taxpayers who each owed more than $10,000.

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