§ 72. Notice of Deficiency. 1. General.--If upon examination of a\ntaxpayer's return, the director of finance determines that there is a\ndeficiency of tax, it may mail a notice of deficiency to the taxpayer.\nIf a taxpayer fails to file a tax return, the director of finance is\nauthorized to estimate the taxpayer's city tax liability from any\ninformation in his possession, and to mail a notice of deficiency to the\ntaxpayer. A notice of deficiency shall be mailed by certified or\nregistered mail to the taxpayer at its last known address in or out of\nthe city. If the taxpayer has terminated its existence, a notice of\ndeficiency may be mailed to its last known address in or out of the\ncity, and such notice shall be sufficient for purposes of this part. If\nthe director of finance has received notice that a person is acting for\nthe taxpayer in a fiduciary capacity, a copy of such notice shall also\nbe mailed to the fiduciary named in such notice.\n 2. Notice of deficiency as assessment.--After ninety days from the\nmailing of a notice of deficiency, such notice shall be an assessment of\nthe amount of tax specified in such notice, together with the interest,\nadditions to tax and penalties stated in such notice, except only for\nany such tax or other amounts as to which the taxpayer has within such\nninety day period filed with the director of finance a petition under\nsection eighty. If the notice of deficiency is addressed to a taxpayer\nwhose last known address is outside of the United States, such period\nshall be one hundred fifty days instead of ninety days.\n 3. Restrictions on assessment and levy.--No assessment of a deficiency\nin tax and no levy or proceeding in court for its collection shall be\nmade, begun or prosecuted, except as otherwise provided in section\neighty-five, until a notice of deficiency has been mailed to the\ntaxpayer, nor until the expiration of the time for filing a petition\ncontesting such notice, nor, if a petition with respect to the taxable\nyear has been filed with the director of finance, until the decision of\nthe director of finance has become final. For exception in the case of\njudicial review of the decision of the director of finance, see\nsubdivision three of section eighty-one.\n 4. Exceptions for mathematical errors.--If a mathematical error\nappears on a return (including an overstatement of the amount paid as\nestimated tax), the director of finance shall notify the taxpayer that\nan amount of tax in excess of that shown upon the return is due, and\nthat such excess has been assessed. Such notice shall not be considered\nas a notice of deficiency for the purposes of this section, subdivision\nsix of section seventy-eight (limiting credits or refunds after petition\nto the director of finance), or subdivision two of section eighty\n(authorizing the filing of a petition with the director of finance based\non a notice of deficiency), nor shall such assessment or collection be\nprohibited by the provisions of subdivision three of this section.\n 5. Exception where change in federal taxable income is not reported.--\n (a) If the taxpayer fails to comply with part two or part three of\nthis title in not reporting a change or correction or renegotiation, or\ncomputation or recomputation of tax, increasing or decreasing its\nfederal taxable income as reported on its federal income tax return or\nin not reporting a change or correction or renegotiation, or computation\nor a recomputaton of tax, which is treated in the same manner as if it\nwere a deficiency for federal income tax purposes or in not filing an\namended return or in not reporting the execution of a notice of waiver\nexecuted pursuant to subsection (d) of section six thousand two hundred\nthirteen of the internal revenue code instead of the mode and time of\nassessment provided for in subdivision two of this section, the\ncommissioner of finance may assess a deficiency based upon such\nincreased or decreased federal
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