Paid tax preparers who prepare more than 10 Connecticut income tax returns or more than 10 federal income tax returns for Connecticut clients, or a combination of both, or who facilitate refund anticipation loans or refund anticipation checks,...
Connecticut has the third highest per capita property taxes in the nation, according to a new report released this week.
The Connecticut Conference of Municipalities report puts the state's per capita property tax burden at $2,847—twice the...
Last year, the Connecticut General Assembly enacted the pass-through entity tax at the flat rate of 6.99% on most pass-through entities, including partnerships, S corporations and limited liability companies that are treated as partnerships or S...
Given that a 1031 exchange necessarily involves the sale of real estate, closing costs will always be a part of the transaction.
Advertisement
Clients routinely ask which of these costs can be paid directly with exchange proceeds without...
As Dorian threatens and with the peak of hurricane season just ahead, the Internal Revenue Service reminds everyone to develop an emergency preparedness plan. Taxpayers, whether individuals, organizations or businesses, should take time now to...
As a result of legislation enacted in June, the Revenue Services Commissioner is directed to waive any late payment penalty and related interest imposed on pass-through entities in connection with their 2018 Pass-Through Entity Tax, so long as...
The Internal Revenue Service is automatically waiving the estimated tax penalty for the more than 400,000 eligible taxpayers who already filed their 2018 federal income tax returns but did not claim the waiver.
The IRS will apply this waiver...
A number of Connecticut municipalities use tax breaks or incentives to stimulate growth.
But for some, particularly cities like Hartford and New Haven with high tax rates, they can be the literal lifeblood of much of the economic development...
Recently, Pennsylvania and Texas allowed businesses to absorb sales tax, meaning they can pay the tax due rather than collect it from the consumer. Is this a new trend?
It used to be against the law for a business to absorb sales tax in...
The AICPA's "Tax Practitioner's Marketing Toolkit" is filled with client letters and surveys, presentations, brochures, and more! Show your clients that you're a tax pro - download your resources today. (Note: You must be an AICPA member to download the toolkit.)
