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Author: ULT1MATE Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: NY Company VA Taxes Date: 6/29/2004 12:44 PM
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<<She will have no claim to receive a credit for NY taxes paid because she will ultimately receive (eventually - after you pry the NY tax collector's fingers away from her money) a refund of all NY taxes improperly withheld from her salary. She will ultimately pay no NY taxes.

On the other hand, as a cash basis taxpayer, if she itemizes she will claim NY taxes withheld on Schedule A of her Federal return and will - of course - include those taxes in her Federal income when they are finally refunded to her (ten years from Tuesday, at the latest).>>

We'll try to recoup the taxes she has already paid, but you folks are probably right about the turn-around time on getting the check.

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