Baker Law Firm, P.C.
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24 Delay Street, Suite 1, Danbury, CT 06810

January 2018 Archives

Back taxes are tax debt

Numerous individuals in Connecticut and elsewhere have tax debt. It happens. Sometimes, paying the IRS is difficult when one is struggling financially. People pay what they can, but if they do not pay in full, they are said to owe back taxes. It is tax debt that the government can still try to collect.

Estate taxes and the law change

Connecticut residents may be left wondering what the new tax law will mean for them. In truth, it may help some but not others. It may be a good thing, or it may be a burden. Everyone's individual situation is different. One area that may be helped by it, though, is estate taxes.

Tax liens and credit reporting

Connecticut residents who fail to pay their taxes may face some serious consequences. Tax liens, for example, may be initiated, which means the state or federal government can take control of one's property. Tax liens will also be listed on one's credit report, which can cause a number of long-term financial issues. ?

4 types of business records the IRS may request during an audit

As an entrepreneur or otherwise self-employed worker, you may have had to deal with many issues that individuals employed by others may not have had to handle. Many of these aspects may relate to financial areas of your job, as you have likely had to ensure that you obtain payments and address tax considerations as necessary. Because you are on your own, you may worry about how possible mistakes could impact your business and personal state of affairs.

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