Bankruptcy is often discussed as a way to eliminate debt, and for many types of debt, it does exactly that. Federal income tax debt is different. It is dischargeable in some circumstances but not others, and the rules that determine which category a Connecticut...
When a Connecticut taxpayer owes more to the IRS than they can pay in a lump sum, an installment agreement allows them to pay the balance over time through monthly payments. These agreements do not eliminate the debt or stop interest and penalties from accruing, but...
When a business fails to collect, account for, or pay over the federal payroll taxes it withholds from employees, the IRS can bypass the business entity entirely and hold individual owners, officers, and employees personally liable for the unpaid amounts. This...
The recently passed American Rescue Plan includes another stimulus check in the amount of $1,400 but be very careful because this relief payment will be different from the rest. Unlike the first $2,000 check and the second $600 check, this payment can be garnished for...
