Baker Law Firm, P.C.
Contact Us 203-648-4737
24 Delay Street, Suite 1, Danbury, CT 06810

September 2019 Archives

Thinking about seeking an Offer in Compromise?

Do you owe the Internal Revenue Service more money than you can pay at present? If you do, you are not alone. Numerous Connecticut residents find themselves in this position every year. Thankfully, you may be able to seek an Offer in Compromise in order to resolve the tax debt.

Have a tax problem? Don't ignore it; take swift action

After filing personal taxes, the Connecticut Department of Revenue and the Internal Revenue Service have several years in which they can look for issues with one's filing and seek more money. When an unexpected tax bill arrives in the mail, it can be rather stressful. Those who believe a mistake has been made might be tempted to ignore the tax bill, but that will only cause problems. If a tax issue arises, it is best to face it head-on as swiftly as possible.

Don't forget to pay taxes on CVC transactions

Convertible virtual currencies have been around for a while now, and there are likely numerous Connecticut residents who have some in their financial portfolios. In 2014, the Internal Revenue Service released a statement saying all CVC-related transactions need to be reported when filing taxes. Up until now, the IRS has been relatively lax on enforcing this rule, but that is changing. It is said that the IRS will be purposefully targeting CVC users to ensure they are meeting their full tax liability.

What to do if the IRS comes calling

A typical day can quickly take a negative turn just by looking into one's mailbox. The Internal Revenue Service, if it sees an issue with one's tax return, makes contact via mail. The letter received will give one vital information about the potential problem, or the amount allegedly owed, and who to contact about it. Some people may choose to just pay and be done with the whole thing, while other Connecticut residents may want to question the IRS. Thankfully, those who wish to do the latter do not have to do it alone.

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24 Delay Street, Suite 1
Danbury, CT 06810

Phone: 203-648-4737
Fax: 203-791-1892
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