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Legislative Action Alert - Tell Your Legislators TODAY: Do NOT Tax Accounting and Tax Preparation Services
The 2019 Connecticut General Assembly is underway and the possibility of a sales tax on tax preparation and accounting services provided to individuals is growing stronger and stronger with each passing day! It is CRITICAL that you contact your...
IRS Publishes Final Guidance On The 20% Pass-Through Deduction: Putting It All Together
I believe in giving credit where credit is due, and I'll be damned if the IRS doesn't deserve some serious credit. It was less than 13 months ago that Congress dumped 500 pages of sloppy statutory language on the Service in the form of the Tax...
Treasury, IRS issue final regulations, other guidance on new qualified business income deduction; Safe harbor enables many rental real estate owners to claim deduction
Today the Treasury Department and the Internal Revenue Service issued final regulations and three related pieces of guidance, implementing the new qualified business income (QBI) deduction (section 199A deduction). The new QBI deduction,...
DRS Accepting Individual Income Tax Returns Jan. 22
The State of Connecticut's online Taxpayer Service Center (TSC), a free and secure filing option, will begin accepting individual income tax returns electronically on Tuesday, January 22, 2019. The Internal Revenue Service (IRS) has...
Tax technology: Outpacing the pace of change
The AICPA Tax Section recently released a Tax Technology Resource Center to help you do just that. Here are some of the highlights of how you can embrace technology trends and make the most of the exciting progression of our tax profession.
DRS Issues Reminder Letters to Taxpayers Who Have Not Yet Filed 2017 Tax Returns
The Connecticut Department of Revenue Services has mailed a reminder letter to taxpayers who filed a Connecticut individual income tax return for tax year 2016, but have not yet filed a return for 2017.
DRS Agency Legislative Proposal – “An Act Making Minor and Technical Changes to Tax Statutes"
These are proposals only and have not yet been heard by the Finance, Revenue and Bonding Committee.The CTCPA is working with the legislature and the DRS on these and other issues. If you have any comments, please contact CTCPA Executive Director...
Connecticut pays the most in federal taxes and gets the least back in return
Connecticut is ranked first in the nation for paying the most in federal income taxes and getting the least federal dollars in return. That’s the finding of the latest survey by the New York-based Rockefeller Institute of...
Democrats Concerned About IRS Shutdown Plan
The Treasury Department this week released a new contingency plan to deal with the ongoing partial government shutdown, but Democratic lawmakers have doubts about the agency’s ability to handle the upcoming tax-filing season. Treasury’s shutdown...
Middle class taxpayers fuel growing state revenues, boosting reserves
State income tax revenues surged upward again Tuesday, but this time it was the middle class — not the wealthy — behind most of the gains. A new report from analysts projects overall revenues this fiscal year will surpass budgeted...

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  Connecticut CPA magazine feature
The IRS Disqualified Employment Tax Levy:
Just When the Client Thought It Was Safe to Owe Money Again …

By Lauren M. McNair, Esq. and Eric L. Green, Esq., Green & Sklarz LLC

Your client calls frantic one morning just as you are sitting down to your desk. “Joe, what’s up?” you ask genially as you reach for your coffee.

“The IRS just cleaned out my bank account!” yells Joe.

“What do you mean? We worked out a payment plan a year ago at our Collection Due Process hearing with the settlement officer. I thought you paid that off.”

Read more>>>