Baker Law Firm, P.C.
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24 Delay Street, Suite 1, Danbury, CT 06810

Income Tax Archives

Expats still owe income tax

Many U.S. citizens take job opportunities that move them and their families out of the country. While they may not be earning money on American soil, it does not mean that they are exempt from paying federal income tax. Here are some things Connecticut residents who are considering the expat lifestyle need to know.

Don't forget cryptocurrency in your 2017 income tax return

Several new tax laws have gone into effect this year, but they will not apply to one's 2017 tax return. For example, how cryptocurrency -- such as Bitcoin -- is taxed and at what rate will be changing under the new law. For the current tax season, here are some things Connecticut residents needs to know about declaring cryptocurrency on their taxes.

Income tax and the innocent spouse

It is not uncommon for spouses in Connecticut to file their taxes together in a joint return. There are a lot of benefits to doing so. The only problem one might see when filing an income tax return jointly is the liability issue. Thankfully, when one spouse makes a mistake or an issue is noted with a joint return, it may be possible for one to avoid liability by filing for innocent spouse relief.

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