Fairfield County Connecticut Tax Resolution Services

Fairfield County Connecticut Tax Resolution Services

We're your Tax Resolution specialists for Fairfield County Connecticut

If you live in Fairfield County and you are having problems with either the Internal Revenue Service or the Connecticut Department of Revenue Services because of either delinquent personal income taxes or unpaid business payroll taxes and withholding tax, contact us today. At the Tax Resolution Institute, our tax resolution experts, both experienced CPAs and Tax Attorneys, know how to solve the most challenging tax debt problems that have arisen in Fairfield County. As part of the New York metropolitan area, Fairfield County forms an essential part the Tri-State tax region.

The Fairfield County towns of Greenwich, Weston, Westport, Darien and New Canaan are suburban hubs for New York City commuters. Although New Canaan is the wealthiest town in Fairfield County, with a per capita income of $85,459, the towns of Greenwich, Weston, Westport and Darien also have per capita incomes over $70,000. Fairfield County, along with all other Connecticut counties, was abolished as a governmental agency in 1960, but it remains a viable designation for local residents. Given the recent recession and the vast changes in the financial markets, TRI understands the challenges Fairfield County taxpayers now face; we have the tax solutions to keep you personally afloat and the doors to your business open.

Since the fallout from the Wall Street crisis in 2008, Fairfield County residents have been struggling to regain their financial equilibrium. At the same time, the Connecticut Department of Revenue Services has been going after the wealthiest taxpayers. Connecticut currently has the third-highest state tax burden in the United States. Your tax burden as a Fairfield County resident has risen 21 places over the last three decades as the state has continued to raise taxes to meet the growing demand for services and high community standards.

In the early 1970s, corporations began moving their headquarters to Fairfield County from Manhattan, a trend that helped to permanently decentralize big business in the New York region. In 1992, Fairfield County had the headquarters of over 25 major multinational corporations, giving it the third largest concentration of those companies in the United States after New York City and Chicago. Fairfield County became an alternative to Manhattan as a place of business and a refuge from New York Metropolitan taxation rates. Recently, Fairfield County has been described as a “hedge fund ghetto” due to the large concentration of investment management firms in the area, most notably Bridgewater Associates (one of the world’s largest hedge funds) and Aladdin Capital Management. The Tax Resolution Institute recognizes that the “hedge fund ghetto” reflects the concentration of financial resources in Fairfield County, naturally creating a plethora of tax resolution issues.

Fairfield County Connecticut - Home to good living!

Without question, Fairfield is a challenging county to run and own a business in, given the difficulties presented by the state taxation laws on multiple fronts. This past year, Connecticut ranked 47th in the Tax Foundation’s State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes; individual income taxes; sales taxes; unemployment insurance taxes; and taxes on property, including residential and commercial property. Given the vast array of economic challenges, it is not surprising that Fairfield County business owners would face payroll tax challenges with both the IRS and the Connecticut Department of Revenue Services.

If you live in Fairfield County and you have been hit hard in the financial mess, problems with either your payroll taxes or your personal income taxes have become all too common. Connecticut’s personal income tax system consists of three separate brackets with a top rate of 6.5% kicking in at an income level of $500,000. That top rate ranks 19th highest among states levying an individual income tax. In 2008, state-level individual income tax collections ranked the highest nationally.

With the United States experiencing an economic crisis as a whole, the Internal Revenue Service is hunting down delinquent taxpayers with a renewed focus. When times get tough, it sometimes feels like all the economic dominos are tumbling at the same time: Suddenly your way of life and your standard of living are under siege. The Tax Resolution Institute understands the consequences of a tax crisis, and we know how to help our clients restore their financial future. If you live in Fairfield County and need help, do not pause and sink deeper into the quicksand of this economic morass — act today and contact us.