New Canaan Tax Resolution Services

New Canaan, Connecticut Tax Resolution Services

New Canaan, Connecticut - Part of Fairfield County

If you live in New Canaan 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 taxes, 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 New Canaan. As part of Fairfield County, New Canaan forms an essential part the Tri-State tax region.

New Canaan is the wealthiest town in Connecticut with a per capita income of $85,459. The median income for a household in the town was $141,788, and the median income for a family was $175,331. Given the recent recession and the vast changes in the financial markets, TRI understands the challenges New Canaan 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, New Canaan 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 New Canaan 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 addition, New Canaan is a challenging town to run and own a business in, given the difficulties presented by the state taxation rates 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 New Canaan business owners would face payroll tax challenges with both the IRS and the Connecticut Department of Revenue Services.

The train station in New Canaan, Connecticut

If you live in New Canaan and you have serious financial challenges, 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. 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, suddenly your way of life and your standard of living seems like they 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 New Canaan and need help, do not pause and sink deeper into the quicksand of this economic morass — act today and contact us.