New York Change of Resident Status Bond – Special Accruals

Secure the payment of your taxes through this surety bond!

What is a New York Change of Resident Status Bond – Special Accruals?

You are required to submit this bond to the New York State Department of Taxation and Finance due to the following reasons:

  • If you have changed your resident status from resident of New York to nonresident and vice versa. Due to this change, certain amounts will be included in computing your New York taxable income on the accrual basis for the taxable period.
  • Your tax returns will have an increase due to the certain amounts that must be included.
  • If you failed to report the said amounts that must be included on your tax returns before the change of resident status.

Sections 639(d), 639(h), 1307(c), and 1307(f) of the New York Tax Law requires you (taxpayer) to file this bond to ensure that future tax amount will be paid. It will be calculated on the amount of deferred income as if no change of residence happened.

How much is a New York Change of Resident Status Bond – Special Accruals?

The bond premium will be based on the taxpayer/bond applicant’s credit score and bond amount.

The bond amount will be determined by the New York State Department of Taxation and Finance.

If you have an excellent credit score, your bond premium can be as little as 1% of the bond amount.

Example:

Bond amount – $10,000
Credit score – 800

Computation:

$10,000 x .001 = $100 will be your bond premium

Once you have determined your bond amount, you can find out what your bond premium will be by claiming your FREE SURETY BOND QUOTE HERE!

How can I get a New York Change of Resident Status Bond – Special Accruals?

STEP 1: Apply for this bond
If you’re ready to apply now, you may do so HERE!

STEP 2: Assessment
You will be asked to submit any documents needed to assess the following:

  • Your financial history
  • Your business/job performance history
  • Your credit score

Our expert underwriter will assess all those.

STEP 3: Sign the indemnity agreement
Once the underwriter is done with the assessment process, you’ll be asked to sign the indemnity agreement. After that, the bond will immediately be issued and sent to you!

How does a New York Change of Resident Status Bond – Special Accruals work?

This bond will serve as a guarantee to the obligee (People of the State of New York and the New York State Department of Taxation and Finance) in the event that the principal (taxpayer) fails to pay his or her taxes.

The surety will pay the obligee if the principal commits the said violation but not before the claim is verified by the surety through an independent investigation. If the claim is valid, the surety will pay the obligee. Under the terms of the bond, the principal must indemnify the surety after the claim has been settled.

Fast approval! APPLY HERE!

New York Change of Resident Status Bond – Special Accruals

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