In 2017, Congress promised a simplified tax-filing process. Instead of multiple pages to fill out, the average person -- whether he or she lives in Connecticut or elsewhere -- would have one small form to complete and send to the Internal Revenue Service. Well, the...
Tax debt is unlike any other. Owing money to the federal government can be an overwhelming burden that follows you wherever you go. It may keep you awake at night, damage your relationships and interfere with your enjoyment of life.Falling behind on your taxes is...
Connecticut residents who owe a substantial amount in taxes for either the current tax year or as a result of owning back taxes may feel overwhelmed at the thought of trying pay the IRS. If one lacks the funds to pay everything off all at once, it is easy to feel...
Planning for retirement is not always easy. How does one know if he or she really ever has enough money put aside? It is hard to know for sure, especially if one fails to consider income tax requirements. There are hidden tax burdens in retirement that numerous...
A woman in another state is going to prison after being found guilty of preparing and filing false tax returns. The moral of this story is simply this: tax crimes do not pay. Connecticut residents who find themselves facing or potentially facing criminal charges over...
Connecticut residents who receive word that they are being audited by the Internal Revenue Service may have a lot of questions and concerns. This is completely understandable, as it can be a frightening thing if one has never been through it before. This week's column...
One of the best things about building a retirement or pension plan is that you don't incur any tax liability as it grows. Of course, you will have to pay taxes once you start drawing on it when you reach retirement age, but in the meantime, you can accumulate as much...