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DRS Issues Guidance Regarding the Calculation of the Pass-Through Entity Tax
The Department of Revenue Services (DRS) recently issued Guidance Regarding the Calculation of the Pass-Through Entity Tax , the result of new federal (Tax Cuts and Jobs Act of 2017) and state (Public Act 18-49) legislation. At the suggestion...
DRS, CTCPA, and CBA Liaison Dinner Meeting - June 26: Get answers directly from DRS staff
The evening will include open dinner discussions with DRS representatives at each table and a Q&A session after dinner.
DRS Issues Guidance Regarding Treatment of Bonus Depreciation for Connecticut Income Tax Purposes
The Department of Revenue Services (DRS) recently issued guidance on treatment and decoupling of bonus depreciation for Connecticut income tax purposes, the result of new federal (Tax Cuts and Jobs Act of 2017) and state ( Public Act 18-49 )...
Need for IRS Guidance on New Pass-Through Deduction A Top Member Concern
When will the Internal Revenue Service (IRS) issue guidance on new Internal Revenue Code section 199A? That’s the number one question on CPAs’ minds related to the Tax Cuts and Jobs Act.
DRS Update: 2018 Estimated Connecticut Pass-Through Entity Tax Payment Coupon and Additional Resources
We know many of you are struggling with the impending pass-through entity tax deadline. Your questions helped inform the DRS implementation guidance issued last week, but a number of unanswered questions remained, particularly regarding payment....
Draft 2019 Form W-4 and instructions posted
The IRS issued a draft version of the 2019 Form W-4, Employee’s Withholding Allowance Certificate, and instructions for the form, in an attempt to further simplify the task of determining income tax withholding for individual taxpayers after the...
Feds OK first stage of new Connecticut hospital taxing system
Connecticut received a key approval Friday for a new hospital taxing arrangement designed to draw $150 million in new federal money annually into the state’s coffers. The U.S. Centers for Medicare and Medicaid Services, commonly known as CMS,...
The 10 biggest tax breaks for individuals
The overhaul of the US tax code was supposed to make taxes simpler and more streamlined. Nearly doubling the standard deduction was a move in that direction. But the changes did very little to reduce the number of so-called tax expenditures...
Connecticut Scores Big On Opportunity Zone Designation
Connecticut batted a thousand, getting all 72 of the areas it nominated as Opportunity Zones to induce long-term investments in low-income communities approved by the U.S. Treasury Department. Twenty-seven different municipalities...
DRS Issues Implementation Guidance on 2018 Estimated Payments for the Newly Enacted Pass-Through Entity Tax
On May 31, 2018, Governor Malloy signed Public Act 18-49 , An Act Concerning an Affected Business Entity Tax, Various Provisions Related to Certain Business Deductions, the Estate and Gift Tax Imposition Thresholds, the Tax Treatment of Certain...

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  Connecticut CPA magazine feature
The IRS Disqualified Employment Tax Levy:
Just When the Client Thought It Was Safe to Owe Money Again …

By Lauren M. McNair, Esq. and Eric L. Green, Esq., Green & Sklarz LLC

Your client calls frantic one morning just as you are sitting down to your desk. “Joe, what’s up?” you ask genially as you reach for your coffee.

“The IRS just cleaned out my bank account!” yells Joe.

“What do you mean? We worked out a payment plan a year ago at our Collection Due Process hearing with the settlement officer. I thought you paid that off.”

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