Not being able to pay one's taxes can cause a person to experience a lot of stress. Connecticut residents with tax debt may put off filing and paying for years because they fear the consequences of failing to pay on time and in full. For anyone who is struggling to...
Month: May 2020
Filing an income tax return for a recently deceased person
When a Connecticut resident passes away, there are a lot of things that need to be taken care of -- including the filing of his or her taxes. This is different than filing estate taxes, which may or may not be necessary, depending on the size of the decedent's estate....
IRS seeking help dealing with cryptocurrency tax evasion
The Internal Revenue Service has been short-staffed and underfunded for quite some time, which has resulted in specific issues not receiving the time and attention they actually require. For example, cryptocurrency tax evasion is a known problem, but there are not...
There is another tax relief method for spouses
If your spouse or former spouse owed money to the IRS, you may have attempted to obtain innocent spouse relief in order to avoid the IRS seizing your portion of a refund or to keep from being liable for your spouse's taxes, but it didn't work. You may have then taken...
How long should I keep my income tax returns?
Filing taxes is something many Connecticut residents dread doing. It takes time, mistakes are easy to make, and no one wants to find out how much more they may owe the government. However, most people file them anyway because the consequences of not doing so can be...
Tax audits: What you can expect
Every year, quite a few Connecticut residents find out the Internal Revenue Service is auditing them. Those who are facing tax audits will receive notification in the mail. Within that notification is a lot of information about what is needed to review one's case and...