Stamford Tax Resolution Services

Stamford, Connecticut Tax Resolution Services

Stamford, Connecticut - The Old Town Hall

If you live in Stamford 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 Stamford. As part of Fairfield County, Stamford is connected to the Greater New York metropolitan region and the Tri-State area.

Known as “the city that works”, Stamford has a per capita income of over $35,000. According to a 2007 estimate, the median income for a household in the city was $72,315, and the median income for a family was $88,205. Given the recent recession and the vast changes in the financial markets, TRI understands the challenges Stamford 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, Stamford 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 Stamford 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.

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, Stamford business owners are facing payroll tax challenges with both the IRS and the Connecticut Department of Revenue Services.

Stamford, Connecticut - On the Sound

Over the years, developers have joined in building up downtown Stamford, a process that has continued into the new century. Stamford’s cluster of corporate headquarters includes a number of Fortune 500, Fortune 1000 and Courant 100 companies. Among the larger companies with headquarters in Stamford are Thomson Corporation, World Wrestling Entertainment, Time Warner Cable, Tasty Bite and Pitney Bowes. UBS also has its North American headquarters and huge trading floor in Stamford. Due to the high cost of renting office space in Stamford, many large corporations have moved offices outside of the city, including Xerox, International Paper, GE Capital, NBC and Clairol. Many of the remaining companies are experiencing serious tax problems in light of both high prices and the economic recession.

If you live in Stamford and you are in financial distress, 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 Stamford and need help, do not pause and allow your economic crisis to worsen — act today and contact the Tax Resolution Institute.