Tax Relief for Hurricane Ida Victims in Connecticut

Posted by on Dec 3, 2021 in Advice Victims of Hurricane Ida in parts of Connecticut now have until Jan. 3, 2022, to file various individual and business tax returns and make tax payments. Individuals and households affected by remnants of Hurricane Ida that reside or have a business in Fairfield County, New London County, Mashantucket Pequot Tribal Nation and Mohegan Tribal Nation qualify for tax relief.
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Special Tax Deduction Helps Most People Give Up to $600 to Charity, Even if They Don’t Itemize

Posted by on Nov 26, 2021 in Advice A special tax provision may allow taxpayers to deduct up to $600 in donations to qualifying charities on their 2021 federal income tax return. Ordinarily, people who choose to take the standard deduction cannot claim a deduction for their charitable contributions. But a temporary law change now permits them to claim a limited deduction on their 2021 federal income tax returns for cash...
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401(k) Contribution Limit Increases to $20,500, Up $1,000

Posted by on Nov 19, 2021 in Advice The contribution limit for employees who participate in 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan is increased to $20,500, up from $19,500 for 2021 and 2020. For additional highlights about contribution changes for 2022, visit IRS.gov.
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Deadline approaches for taxpayers who requested extensions to file 2020 tax returns

Posted by on Sep 22, 2021 in Advice Reminder to those who requested extensions to file their 2020 tax returns for the upcoming Oct. 15 due date. People who asked for an extension should file on or before the extension deadline to avoid the penalty for filing late.
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Attorney General Tong, DRS Commissioner Boughton Warn Consumers of Fraudulent Letters About Unpaid Tax Debt

Posted by on Aug 12, 2021 in Advice (Hartford, CT) — Attorney General William Tong and Department of Revenue Services Commissioner Mark D. Boughton today are warning Connecticut consumers of a scam in which they receive a threatening letter about unpaid federal tax debts. The fraudulent letter claims to be from a “Tax Processing Unit” in a Connecticut county and threatens legal action for unpaid taxes and provides a number to call...
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2021 Child Tax Credit and Advance Child Tax Credit Payments Frequently Asked Questions

Posted by on Aug 12, 2021 in Advice There have been important changes to the Child Tax Credit that will help many families receive advance payments. The American Rescue Plan Act (ARPA) of 2021 expands the Child Tax Credit (CTC) for tax year 2021 only. Below are frequently asked questions about the Advance Child Tax Credit Payments in 2021, separated by topic. Topic A: General InformationTopic B: Eligibility for Advance Child Tax...
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Beware Of “Ghost” Preparers Who Don’t Sign Tax Returns

Posted by on Feb 9, 2021 in Advice The Internal Revenue Service reminds taxpayers to avoid “ghost” tax return preparers whose refusal to sign returns can cause a frightening array of problems. It is important to file a valid, accurate tax return because the taxpayer is ultimately responsible for it. Ghost preparers get their scary name because they don’t sign tax returns they prepare. Like a ghost, they try to...
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Educators Can Now Deduct Out-Of-Pocket Expenses For COVID-19 Protective Items

Posted by on Feb 8, 2021 in Advice Eligible educators can deduct unreimbursed expenses for COVID-19 protective items to stop the spread of COVID-19 in the classroom. COVID-19 protective items include, but are not limited to: Face masksDisinfectant for use against COVID-19Hand soapHand sanitizerDisposable glovesTape, paint or chalk to guide social distancingPhysical barriers (for example, clear plexiglass)Air purifiersOther items...
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2021 Tax Filing Season Begins Feb. 12

Posted by on Jan 18, 2021 in Advice The 2021 tax season will start on Friday, Feb. 12, 2021, when the IRS will begin accepting and processing 2020 tax year returns. The Feb. 12 start date for individual tax return filers allows the IRS time to do additional programming and testing of IRS systems following the Dec. 27 tax law changes that provided a second round of Economic Impact Payments and other benefits. The additional...
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COVID-19 Text Scam

Posted by on Nov 30, 2020 in Advice The IRS is warning of a new text scam created by thieves that trick people into disclosing bank account information under the guise of receiving the $1,200 Economic Impact Payment. The IRS reminds taxpayers that neither the IRS nor state agencies will ever text taxpayers asking for bank account information so that an EIP deposit may be made. “Criminals are relentlessly using COVID-19 and...
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