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STATE OF NEW YORK TAX APPEALS TRIBUNAL ___ In the Matter of the Petition:of:GIFTS BY GALLEGOS, INC. AND THOMAS BADALONA, AS OFFICER:: for Revision of Determinations or for Refund of Sales and Use
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Gifts by Gallego Inc. refers to a formal process for reporting gifts given by the company, which may include donations or other forms of gifts distributed to individuals or organizations.
Any individual or entity that has made gifts exceeding a certain threshold within a tax year is required to file gifts by Gallego Inc.
To fill out gifts by Gallego Inc., individuals must gather necessary information regarding the recipients and the value of gifts, and then complete the designated forms accurately before submission.
The purpose of gifts by Gallego Inc. is to ensure transparency and compliance with tax laws regarding the reporting of gifts, thereby providing the IRS with necessary information for oversight.
The information that must be reported includes the name and address of the recipient, the date of the gift, the description of the gift, and its monetary value.
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