Taxes are an unavoidable obligation for most individuals. People generally pay taxes on their income and their personal holdings, including real estate. Some of those taxes are federal, and some of them are due to the state of Connecticut or local municipal...
Danbury Tax Law Blog
What to expect when making an installment agreement with the IRS
Those who owe back taxes to the Internal Revenue Service (IRS) are often anxious to resolve the matter. The IRS can take action against a taxpayer's personal property or their income. Other times, the IRS can convince federal authorities to pursue criminal charges...
What are the penalties for a tax fraud conviction?
Working adults in Connecticut have to file a tax return each year with both the federal government and the state. The Internal Revenue Service (IRS) receives and analyzes federal tax returns, while the Connecticut State Department of Revenue Services reviews state...
What should someone do after learning about an IRS investigation?
The Internal Revenue Service (IRS) largely depends on taxpayers to report their own income accurately. People are generally expected to report their income to the IRS, make accurate personal statements regarding their family circumstances and pay what they believe...
What should you know about tax audits?
Income tax audits can seem intimidating. They involve a thorough review of financial information and tax returns by a tax authority to ensure that all the reported income, expenses and credits are accurate and comply with tax laws. It's a topic that many people dread,...
Divorce and taxes: Understand some of the issues that can arise
Once you put the emotions of a divorce aside, a lot of what’s left to handle is purely financial. If you don’t have any real assets or investments, it might be fairly easy. If you do, however, the divorce process can get exceedingly complex. Couples sometimes forget...
What is a collection due process appeal?
You may have outstanding tax debt with the Internal Revenue Service (IRS). If you’re struggling to resolve it, then the IRS may pursue collective activities. The IRS will formally notify you about what collective activity they intend to take if you have unpaid tax...
What’re the penalties for tax fraud from Connecticut and the IRS?
Most successful professionals and small business owners want to minimize their tax obligations. The appropriate use of write-offs and exemptions can significantly reduce someone's state and federal income tax obligations. However, the creative accounting that people...
What to do if you become the subject of an IRS investigation
Sometimes, you find out because you get a letter in the mail. The Internal Revenue Service (IRS) is often very forthright about its intention to investigate a taxpayer. They may send you a letter advising you of the investigation and possibly even asking for your...
What to know when going through a tax audit by the IRS
If you are contacted by the Internal Revenue Service and will be going through a tax audit, it’s important for you to know what to expect and to be aware of your rights. While the likelihood of being audited by the IRS is low, knowing that you are being audited means...