Baker Law Firm
Contact Us 203-648-4737
24 Delay Street, Suite 1, Danbury, CT 06810

January 2016 Archives

What is the IRS' Offshore Voluntary Disclosure Program

We've previously written about the new reporting requirements imposed upon U.S. citizens with foreign bank accounts. Under the Internal Revenue Service's Report of Foreign Bank and Financial Accounts and Foreign Account Tax Compliance Act, U.S. citizens with foreign assets valued at $50,000 or more are required to file the proper documents disclosing specific details about such assets.

How failing to address 1099 issues can lead to additional costs and an audit

It's January and the official start of a new year also signals the start of the 2015 tax filing season. Within the next couple of months, individuals and business owners will receive important tax documents in the mail which are essential to figuring out one's taxes and filing an accurate tax return. Two of the most important tax documents are the W-2 and 1099 forms.

How does the passage of PATH impact business owners?

It’s the start of a new year and for any business owner, tax planning is an important component to help increase and maximize profitability. However, due to the ever-changing tax rules and laws, many business owners find tax planning to be a confusing and tedious process.

Private debt collectors to begin pursuing tax-debt cases

There are times when an individual isn't able to pay his or her taxes or disputes the amount owed. Whatever the case, many hard-working and honest Americans struggle with tax debt problems. Previously, the IRS took action to handle these cases by sending notices to delinquent taxpayers and requesting payment. A taxpayer then had the options to work with the agency to sort out a repayment plan, have a portion of his or her tax debt forgiven or dispute the matter.

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24 Delay Street
Suite 1
Danbury, CT 06810

Phone: 203-648-4737
Fax: 203-791-1892
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