Connecticut Tax Resolution

Connecticut Tax Resolution Services

If you have IRS Back Tax Problems give the Tax Resolution Institute a call at 877-829-8370

If you live in Connecticut 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 Connecticut. Southwestern Connecticut is part of the New York metropolitan area; three of Connecticut’s eight counties, including most of the state’s population, are in the New York City combined statistical area, commonly called the Tri-State area.

In addition, the city of Stamford and the Fairfield County towns of Greenwich, Weston, Westport, Darien and New Canaan are suburban hubs for New York City commuters. New Canaan is the wealthiest town in Connecticut, with a per capita income of $85,459. The towns of Greenwich, Weston, Westport and Darien also have per capita incomes over $70,000. Given the recent recession and the vast changes in the financial markets, TRI understands the tax challenges Connecticut taxpayers face, and we have solutions to keep you personally afloat and the doors to your business open.

Since the fallout from the Wall Street crisis in 2008, the entire Tri-State Area has been struggling to regain its foothold as the economic engine of the American economy. To make matters worse, 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 Connecticut 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. Estimated at 11.1% of income, Connecticut’s state tax burden percentage stands well above the national average of 9.7%.

Without question, Connecticut is a challenging state to 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 Connecticut business owners would face payroll tax challenges with both the IRS and the Connecticut Department of Revenue Services.

Oldest house in Darien, Connecticut

If you live in Connecticut and you have been hit hard in the recession, 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. This top rate ranks 19th highest among states levying an individual income tax. In 2008, state-level individual income tax collections on Connecticut 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. Connecticut taxpayers receive less federal funding per dollar of federal taxes paid compared to the average state. Per dollar of Federal tax collected in 2005, Connecticut citizens received approximately $0.69 in the way of federal spending. This ranks the state 3rd lowest nationally, and as recently as 1995, Connecticut ranked last, receiving $0.68 in federal spending per dollar of taxes.

When times get tough, it sometimes feels like all the economic dominoes are tumbling at the same time: Suddenly your way of life and your standard of living is under siege. The Tax Resolution Institute understands the consequences of a legitimate tax crisis, and we know how to help our clients restore their financial future. If you need help, do not pause and sink deeper into the quicksand of this economic morass — act today and contact us.