by taxnick on September 30, 2009
New Connecticut tax laws set to go in effect tomorrow bring new fees and tax increases in Connecticut. Changes include:
Cigarette tax jumps from $2 to $3 a pack
Most bottles of water will cost a nickel more because of an expanded bottle and can redemption law
Hundreds of state licenses and fees, ranging from a pet shop [...]
by taxnick on September 26, 2009
House Speaker Kirk Adams said Friday he fully expects legislation to come forward in the next session that will address Arizona’s Private School Tuition Tax Credits.House Speaker Kirk Adams said Friday he fully expects legislation to come forward in the next session that will address Arizona’s Private School Tuition Tax Credits.
Last week, Adams, R-Mesa, announced [...]
by taxnick on September 23, 2009
A conservative public policy group said Wednesday that Maine’s new tax law is unconstitutional and that it’s prepared to file a lawsuit to overturn it.
People moving into or out of the state, as well as out-of-staters who work in Maine, could end up paying thousands of dollars more in income taxes than full-time residents under [...]
by taxnick on September 21, 2009
Those who have used offshore bank accounts in order to evade taxes are receiving more time to do so under a one-time extension of an IRS leniency program. The official announcement is set for today.
The program was initially expiring on Wednesday will allegedly continue until Oct. 15 according to USA today.
The IRS approved the continuation [...]
by taxnick on September 16, 2009
With confusion gambling laws in many states, North Dakota may have the most confusing of all the gambling tax laws across the country. They may be changing.
The goal of changing the laws is to make it easier on charitable organizations when it comes time to pay gambling taxes. Gaming Dinision Director Keith Lauer thinks he [...]
by taxnick on September 15, 2009
If you owe debt to the IRS and cannot pay in full a payment plan or IRS installment agreement may be negotiated. While this may be a good option for you to avoid wage garnishment, tax levies, etc., generally the faster you pay off the debt the less fees and penalties you will be subjected [...]
by taxnick on September 14, 2009
Connecticut residents will no longer have to flee to Florida to avoid the Connecticut estate tax because of a new law enacted Sept. 8 (House Bill 6802).
Beginning with deaths occurring on or after Jan. 1, 2010, estates (and gifts) of as much as $3.5 million will be exempt from Connecticut estate (and gift) tax. That [...]
by taxnick on September 12, 2009
Filing your taxes jointly can provide many benefits as you probably know, but sometimes it can create problems. Innocent spouse tax relief can fix problems your spouse or ex spouse created with your taxes.
When you are married and file a joint return together it means that both individuals are jointly and individually responsible for the [...]
by taxnick on September 10, 2009
An small case ( S case) IRS tax audit is never a fun thing to face, but they do happen to individuals and small businesses. When faced with the burden of a tax audit you may want to contest it. Here are some guidelines.
Tax Court’s Small Case Division can hear disputes involving as much as [...]
by taxnick on September 8, 2009
What is IRS Wage Garnishment?
IRS wage garnishment occurs when you owe taxes and the IRS is no longer willing to wait to collect them. The IRS will deduct the taxes you owe from your paycheck, usually between 30 and 70 percent.
First, the IRS is going to send you a notice of past due taxes [...]