Few of us want to think about taxes around the holidays, but the year is almost over. Therefore, taxes should at least be on the “back burner” in your mind. You may want to start gathering important documents that you’ll need in 2015 in order to file your tax return...
Last month, we wrote about a scandal involving seizures by the IRS of privately held bank accounts and other assets. The agency has been able to seize these assets without a warrant and without criminal charges under a process known as civil asset forfeiture.The...
Connecticut, and several other states, exempt some or all of federally taxable Social Security income. Connecticut allows taxpayers to exempt all of that income depending on filing status and federal adjusted gross income. A taxpayer can deduct 100% of her federally...
Last week, we discussed three relief or deferment options that may be available if you owe taxes to the Internal Revenue Service and cannot afford to pay. These include installment agreements, offers in compromise and hardship suspensions.Contrary to what you may have...