2006 New York Code - Construction--tax Matters.

 
    §  5-1502N. Construction--tax matters. In a statutory short form power
  of attorney, the language conferring general authority with  respect  to
  "tax  matters",  must be construed to mean that the principal authorizes
  the agent:
    1. To prepare, sign, and  file  federal,  state,  local,  and  foreign
  income,  gift, payroll, federal insurance contributions act returns, and
  other tax returns, claims for refunds, requests for extension  of  time,
  petitions  regarding  tax  matters, and any other tax-related documents,
  including receipts, offers, waivers, consents  (including  consents  and
  agreements  under  United  States Internal Revenue Code Section 2032A or
  cognate provisions of any successor statute),  closing  agreements,  and
  any  power  of attorney required by the federal internal revenue service
  or other taxing authority with respect to a  tax  year  upon  which  the
  statute  of  limitations has not run and with respect to the tax year in
  which the power of  attorney  was  executed  and  with  respect  to  any
  subsequent tax year;
    2. To pay taxes due, collect refunds, post bonds, receive confidential
  information,  and  contest  deficiencies determined by the United States
  Internal Revenue Service or other taxing authority;
    3. To exercise any election available to the principal under  federal,
  state, local, or foreign tax law; and
    4.  To  represent  the  principal,  or  to designate another person to
  represent the principal, in all tax matters for all tax  periods  before
  the  United  States  Internal  Revenue  Service  and  any  other  taxing
  authority.
    The powers explicitly authorized in the  provisions  of  this  section
  5-1502N  of  the  general  obligations  law  shall  not  be construed to
  diminish any like powers authorized in any other section of title 15  of
  article  5  of the general obligations law, such as, but not limited to,
  those authorized in subdivision 9 of  section  5-1502I  of  this  title.
  Accordingly, such powers as are authorized in any other section of title
  15  of article 5 of the general obligations law shall be construed as if
  the provisions of this section do not exist.