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The Internal Revenue Service (“IRS”) has many tax penalties for taxpayers that fail to meet certain requirements.
Some of these penalties are:
* Failure to File
* Failure to File on Time
* Failure to Pay
* Penalty on Underpayment of Estimated Tax
It’s possible an IRS penalty can be waived. Possible being the key word. Just … Continue reading »
Connecticut ‘C’ Corporations can avail themselves to the Connecticut Neighborhood Assistance Act Credit.
The concept of the credit is to promote funding for tax exempt and municipal organizations by providing a Connecticut income tax credit for ‘C’ Corporations.
Click here for a List of Approved Program Proposals.
Please review 6 Easy Steps to Open an Estate in Connecticut.
Unless the will specifically indicates a bond is not required, the executor will need to get a Probate Bond. The coverage and insurance premium will be based on the expected size of the estate. The executor may have to front the money to get the bond as the estate checking … Continue reading »
A decedent will list their executor (or executrix) in their will. If the decedent did not name one or did not have a will, the court will appoint someone to manage the affairs of the estate.
This person will be known as an administrator or adminstratrix. The appointment will allow you to manage … Continue reading »
Recently enacted legislation makes significant changes to Section 12-700(a) of the General Statutes retroactive to January 1, 2011. Employers and taxpayers need to perform catch-up withholding for the current tax year. The following is a brief overview of the changes which may affect your employees: