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Republicans Call For Special Session On Meals Tax
Republican legislative leaders aren’t letting the Democratic majority off the hook when it comes to the 1% meals tax scheduled to go into effect on Oct. 1. The new tax,...
Lamont: Prepared food tax hike will be narrowed in scope
Gov . Ned Lamont announced Tuesday he expects the new sales tax surcharge on prepared foods will be scaled back — and applied to a narrower range of items — before it...
2019 Legislative Update Permit Requirements for Tax Preparers and Facilitators
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...
Connecticut Property Taxes Third Highest in U.S.
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...
Nonresident Composite Return Option
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...
Counseling Clients on Closing Costs in a 1031 Exchange
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...
As Hurricane Dorian gains strength, IRS encourages preparation for natural disaster
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,...
Taxpayer Mailing Planned: Pass-Through Entities
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...
DRS Issues Payroll Tax Commission Information Request to Employers
This week, DRS has sent two e-mails to certain employers – the first introduced the information request; the second includes a brief survey.
IRS automatically waives estimated tax penalty for eligible 2018 tax filers
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...