If you’re required to pay federal income tax, and you probably are, it’s critical that you do so with good intentions. Sure, you may make mistakes every now and again, but as long as you have the right intentions you should never find yourself facing criminal charges....
Danbury Tax Law Blog
Do these things on your taxes, and you may be audited
The Internal Revenue Service's audit department is busy, but it is not because most taxpayers' returns contain questionable information. Less than 1% of the population is audited every year, which is a far lower number than it used to be. IRS staffing and funding are...
Connecticut residents carry a significant tax burden
When it comes to taxes, not all states are created equal. Some have higher tax rates than others, which can greatly affect residents' economic positions. Connecticut residents in particular carry a significant tax burden, as tax rates here are some of the worst in the...
Not filing tax returns will catch up with you at some point
Like other Connecticut residents who haven't file tax returns for several years, you may have had one bad year where you failed to file, but thereafter, it became a downward spiral. Granted, if you are due a refund, you are not obligated to file a return. However, you...
Being audited? Don’t panic
Being the subject of a tax audit can be an unnerving experience. Panic is the overall feeling people have when they find out they are being audited. However, Connecticut residents can help themselves by remaining calm and seeking assistance to handle the matter as...
Filing for an extension could increase your tax debt
There are plenty of reasons why some Connecticut residents will be unable to have their taxes completed and filed by this year's deadline, which is fast approaching. The Internal Revenue Service allows those who require extra time to prepare and file their tax returns...
What happens if you plead guilty to tax evasion?
Being charged with committing a tax crime can be a frightening thing to experience. Tax evasion, for example, is a serious crime that can have significant consequences if one is convicted. For some Connecticut residents, choosing to plead guilty rather than go through...
Do tax liens affect one’s credit?
Connecticut residents who owe money to the Internal Revenue Service may find that it tries to collect in ways that can be extremely harmful to one's way of life. Tax liens, for example, offer the government the ability to claim an interest in one's property. This...
Can the IRS garnish my wages?
If you are behind on paying your taxes, as many Connecticut residents are, and you have not taken any steps to work with the Internal Revenue Service to rectify the situation, certain actions may be taken against you in an effort to collect the money owed. One such...
Reviewing your estate plan in light of the TCJA
Creating an estate plan often requires a great deal of consideration, research and thought. Like other Connecticut residents, you will need to figure out how to divide your assets, choose the individuals you want to administer your estate and/or trust, and consider...