Business owners in Connecticut have a lot of responsibilities. Dealing with sales tax is one of them. Connecticut is, after all, of the many states that require sales tax be collected, reported and paid on all taxable products and services.
You have certainly heard horror stories about people dealing with the Internal Revenue Service. The IRS has long carried a reputation for coming down hard on citizens who fail to pay their taxes. While it is true that the government can exact stiff penalties on those who intentionally evade paying what they owe, you may be relieved to know that the IRS also offers numerous options for people who intend to pay their taxes but simply have no way of affording to.
Receiving word from the Internal Revenue Service that something does not seem right on one's taxes can be alarming. As tax crimes are an issue in Connecticut and elsewhere, the IRS will take the time to investigate. Here is the thing, though — not everyone intentionally commits fraud when doing their taxes. Some people just make mistakes. Negligence and fraud are not the same things, and negligence is not necessarily a crime.
Those who own property in Connecticut, regardless if they are residents of the state, need to know what taxes will apply to them now or their estate when they pass away. Estate taxes, for example, are no joke and can cost a lot if the proper estate planning protections are not put in place. Here is what people need to understand about estate taxes.
When you think about your taxes, you probably think a tax preparer or an accountant is the person you need to talk to about any concerns you may have. While these individuals can offer some great guidance to Connecticut residents, they may not be able to address all of your concerns. A tax attorney, however, may be able to.