tax: 5 Reasons to Reach Out to a Tax Resolution Professional - 12/14/23 12:24 PM
Tax issues can be complex and overwhelming, and when you find yourself facing IRS problems or unmanageable tax debt, it may be time to seek assistance from a tax resolution professional.
Tax resolution professionals can help individuals and businesses navigate the intricacies of the tax system and find viable solutions to their tax challenges. In this article, we will explore the key indicators that signal when it's time to reach out to a tax resolution professional for assistance.
Note: If any of the reasons below apply to you, contact our office today at 860-580-5183 for a free, no-obligation consultation to review your … (1 comments)

tax: IRS Offers Several Ways to Pay Off Delinquent Tax Debt - 02/22/23 11:00 AM
 
It's no secret that millions of taxpayers struggle to pay their taxes. The IRS is unyielding when it comes to collecting money, they think is theirs, so if you're facing back taxes owed the federal government highly advises seeking assistance as soon as possible before they resort to aggressive measures like taking money out of your bank accounts and seizing wages or property.
The IRS offers several different payment plans to help taxpayers pay off their tax debt. These plans include:
Guaranteed Installment Agreement: This plan is available to taxpayers who owe $10,000 or less in taxes. The taxpayer must agree to … (0 comments)

tax: What to Do if You Owe Back Taxes - 12/08/22 10:47 AM
Paying taxes is a fact of life, but when the amount is excessive, you may not have the funds to pay in full. Making a mistake on your taxes can be costly as well, and if you plug in the wrong numbers, the IRS will surely come calling.
Whether you owe money to the IRS due to an innocent oversight, a lack of funds, or something else, ignoring the problem will not make it go away.
Once you owe money to the IRS, the clock is ticking, and all the while penalties and compounded interest will be piling up. So, what should you … (0 comments)

tax: Filing Taxes When You Owe Money: What to Do and What You Need to Know - 12/08/22 10:43 AM
The tax-filing deadline will be here before you know it and pretty soon, you’ll be gathering up your receipts and plugging in numbers. I know you’re hoping for good news, and praying for a big refund in the process.
If all goes well you won’t owe anything and you might even be getting back a nice refund. But, what should you do if you owe money? If you know you owe money to the IRS, you might be tempted to not file a return, but that is the worst thing you can do!
If you fail to file on time, the IRS will … (1 comments)

tax: Do You Have Unfiled Tax Returns? Here’s What To Do. - 09/06/22 08:42 AM
Filing your taxes is never a fun thing to do, but if you don't file them at all then the IRS will come calling. They have unbridled power to file a return on your behalf in their, not your, best interest.
They have powerful collection tools and an unforgiving nature that makes this one of the worst mistakes anyone could make. Getting on their bad side isn’t easy; having years’ worth of unfiled returns only adds fuel to the fire!
The IRS is always on the lookout for taxpayer’s who haven’t filed legally required income or payroll tax returns. If you have unfiled … (2 comments)

tax: Stimulus Checks are coming and it's already a mess - 04/15/20 11:31 AM
The Economic Impact Payments, or stimulus checks, started arriving in people's bank account on Friday.  It's Wednesday and it's already clear that the IRS has made a mess of things.  My main focus is on Taxpayer Representation and Tax Resolution.  I work in Hartford County CT with clients locally and throughout the country to resolve their tax problems.  I've seen plenty of screw ups by the IRS, but I can't think of another one on this scale.  
 
The good news is that most people aren't negatively effected by this.  What should be happening is that everyone who has filed a tax return for … (3 comments)

tax: How To Get Your Stimulus Check If You Don't File Taxes - 04/10/20 09:51 AM
The constant flow of changes continues again today. By now most people know who is or isn’t getting a stimulus check. If you’re not sure if you’re on the list you can read through my earlier post. If you’re getting one but don’t want it, maybe you should reconsider that. Either way there was a group of people left out in the cold. Those who are eligible, don’t have a filing requirement, and don’t receive social security. Some have filed anyway to get in the system, others are still sitting on the sidelines. The IRS has been talking about creating an … (3 comments)

tax: The IRS just gave people even more time - 04/09/20 04:20 PM
There's been an almost constant flow of changes coming out of Washington DC for the last few weeks.  A few minutes several new things were announced. Most of it doesn’t apply to the average person but there are two main things that I want to highlight that came out of IRS Notice 2020-23. This extends many deadlines that were hanging in suspense.
 
The one that’s going to effect the greatest number of people is the 2nd quarter estimated tax payment. An earlier notice pushed the first quarter payment back to July 15th but left the second quarter payment still due on June 15th. … (3 comments)

tax: Why you should want your stimulus check - 04/01/20 03:19 PM
Most people are going to be confused by this title.  Money is coming, why wouldn't you want it?  Well, I've been fielding alot of questions from people that don't, and I think they're wrong.  Part of it is because of misinformation.  In an earlier post I covered most of the ins and outs of who is getting a check and for how much.  Even though the law was signed less than a week ago, people have been talking about it for much longer than that.  Some people are talking about things that didn't make it into the final bill and others are … (1 comments)

tax: Hartford, CT: COVID-19 and paying your taxes Official Guidance - 03/19/20 11:13 AM
I’ve been telling people over and over again for years that filing an extension for your taxes is an extension of time to file, not an extension to pay. I posted yesterday about proposed action from the IRS for payments this year. Shortly after I posted that IRS Notice 2020-17 was issued making it official, and it is largely what I expected. Now what we have is an extension of time to pay, but not an extension of time to file. Which is the opposite of how it’s always worked in the past. People who owe under $1,000,000 now have up … (3 comments)

tax: Hartford, CT: Do you want to get back into compliance with the IRS? - 03/18/20 02:42 PM
People stop filing their taxes for many reasons, and at this point I’ve probably heard just about every reason. Someone once told me that they prepare their taxes by hand (don’t do that) and their dog ate it before they could mail it in.
 
As someone who specializes in Taxpayer Representation here in Hartford County, Connecticut, I will meet with many people each year who are ready to come back into compliance. Some of the more common reasons involve challenges from being self-employed or divorced, coping with the death of a spouse or loved one, or other mental or physical health challenges. … (1 comments)