{"id":7318,"date":"2001-10-30T16:00:46","date_gmt":"2001-10-30T23:00:46","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/?p=7318"},"modified":"2020-12-22T11:49:24","modified_gmt":"2020-12-22T18:49:24","slug":"howard-l-bancroft-iii","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2001\/10\/30\/howard-l-bancroft-iii\/","title":{"rendered":"Howard L. Bancroft, III"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;3.22&#8243;][et_pb_row admin_label=&#8221;row&#8221; _builder_version=&#8221;3.25&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<\/p>\n<div class=\"blogDateTitleContainer\">\n<div class=\"blogDateTitle\">10\/30\/2001<\/div>\n<\/div>\n<div class=\"blogItem\">\n<p><a href=\"\/businesses\/wp-content\/uploads\/sites\/9\/2020\/11\/01-29__howard_bancroft.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">01-29<\/a><\/p>\n<p>The Department assessed the Taxpayer for personal income tax, penalty and interest for tax years 1992, 1993 and 1994. \u00a0The Taxpayer protested, raising the following issues: 1) the Department should be required to enter into a settlement agreement with the Taxpayer on the same terms he settled with the IRS; and 2) the Taxpayer should be excused from payment of penalty because his decision not to file New Mexico personal income tax returns was based on the advice of his attorney. Held: New Mexico law requires the existence of a good faith doubt before the Department is authorized to enter into a settlement agreement and does not permit settlement on the same grounds offered by the IRS; the Taxpayer&#8217;s failure to file a tax return, request an extension of time to file or make estimated payment of taxes due was negligent and was not excused by the advice provided by his attorney. \u00a0Protest denied.<\/p>\n<\/div>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.6.6&#8243; _module_preset=&#8221;default&#8221;]<\/p>\n<p><a href=\"\/all-nm-taxes\/tax-decisions-orders\/\">Back to Tax Decisions &amp; Orders<\/a><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>10\/30\/2001 01-29 The Department assessed the Taxpayer for personal income tax, penalty and interest for tax years 1992, 1993 and 1994. \u00a0The Taxpayer protested, raising the following issues: 1) the Department should be required to enter into a settlement agreement with the Taxpayer on the same terms he settled with the IRS; and 2) the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[43],"tags":[],"class_list":["post-7318","post","type-post","status-publish","format-standard","hentry","category-tax-decisions-orders"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Howard L. 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