State’s refund debit card plan works: People reject it for direct deposit

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Connecticut’s taxman must be a fan of B.F. Skinner . The State Department of Revenue said 79 percent of tax refunds paid out this year were directly deposited into taxpayers’ accounts. That’s up 24 percent from two years ago, the last time the state issued paper refund checks. Kevin Sullivan, DRS commissioner, issued a release […] [Read More]

Do mill rate hikes affect where families or biz locate?

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Bridgeport is pondering a 2.5 mill rate hike for the next fiscal year, which could add $400 bucks to the average home owner’s bill and $981 to a business’ tax bill. Yet prices for homes in Bridgeport are much lower than other areas of the county and there are some bargain prices for commercial buildings […] [Read More]

Entrenched in underground economy, man goes to jail

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This item from Justice came out Monday. It’s another example of the law unearthing underground economic activity. One of the contributing factors to the decline in the state’s labor force in the last year is that people working for cash to avoid taxes are not counted in the monthly jobs report. As a result the […] [Read More]

IRS says it might owe $13 million to Connecticut taxpayers

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The IRS says an estimated 12,100 Connecticut taxpayers who failed to file their 2009 returns are about to lose about $13 million in refunds. By law, taxpayers can claim their refunds within three years, after that, any unclaimed funds becomes property of the Federal government. To claim the money, people have to file their 2009 […] [Read More]
Categories: Taxes
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Car tax argument slams into property taxes

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Gov. Dannel P. Malloy proposed to get rid of the car tax and cities and towns are up in arms over the loss of revenue, with a few saying they will just make up the missing funds with higher property taxes. Malloy, however, as reported by our colleague Ken Dixon, argued the car tax is […] [Read More]

IRS finishes tech upgrades: You can now file your taxes

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Just 63 days into 2013 and the IRS says it can now accept all tax return filings for 2012. The IRS said it was updating its tax-processing systems and has finally finished the job, allowing for all remaining individual and business taxpayers to file their 2012 federal income tax returns. Part of the IRS’ problem […] [Read More]
Categories: Taxes

Swiss working with IRS to find hidden American money

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Could this be a boon to mattress makers? (You know, because people will have to hide money in them instead of offshore accounts.) In case you were thinking of hiding money offshore in Switzerland, better think again. Uncle Sam has worked out a deal with Swiss. Here’s the announcement: The U.S. Department of the Treasury […] [Read More]
Categories: Banking, Taxes
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IRS is open for business, sort of

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The Internal Revenue Service has opened the 2013 filing season by announcing a variety of enhanced products and services to help taxpayers prepare and file their tax returns. “This year, taxpayers have until Monday, April 15, to file their 2012 tax returns and pay any tax due,”  said Dianne Besunder the IRS spokeswoman for Connecticut. […] [Read More]
Categories: Taxes

First five days of tax season and 1,225 residents have state refunds

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More than 15,500 Connecticut residents got the jump on tax season and have already filed their returns, the state Department of Revenue Services said this week. Tax season officially opened in Connecticut on Jan. 22 and by Jan. 27, the DRS had issued 1,225 refunds. Most were done electronically, according to the department. On Tuesday, […] [Read More]
Categories: Taxes
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Congress drops storm aid, but raises taxes on areas hit hardest by Sandy

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Congress voted this week to raise taxes on an estimated 153,000 families living in Connecticut, New York and New Jersey, but failed to grant federal aid to deal with the damages from Superstorm Sandy, which struck these same states. Just hours after voting to raise taxes on families making $450,000 or more a year, which, […] [Read More]