When Connecticut residents do not or are unable to meet their tax obligations, the Internal Revenue Service is not going to take the matter lying down. Placing tax liens on homes is a way for the IRS to ensure it gets paid, eventually. When tax liens are put in place,...
The word audit can strike fear into the hearts and minds of just about anyone. No one wants to get a letter from the Internal Revenue Service saying they are being audited. The simple truth of the matter is, tax audits are not necessarily a bad thing, and Connecticut...
When the IRS realized that cryptocurrency was here to stay and provided significant income for those with it, it issued a notice making it taxable property for income tax purposes. That was in 2014 before this virtual currency, which includes cryptocurrency, truly...
A small business owner in another state -- who focuses on selling products online through Amazon -- recently received a tax bill that has turned his whole world upside down. He supposedly owes roughly $1.6 million in sales tax to the state of California because his...
Owning investment property can be a good way for Connecticut residents to build wealth. Before diving into the investment property world, though, it is good to understand the tax consequences that come along with doing so. Not all are bad, but some are...