Best Tax Attorneys in Bridgeport

FAQs

• Where does the Tax Court hold trial sessions closest to Bridgeport, Connecticut?

  The trial location nearest to Bridgeport is in Hartford, at Room 619 of the Federal Building & U.S. Courthouse along 450 Main Street (06103).

• Where is the low-income taxpayer clinic that is closest to Bridgeport, Connecticut?

  The low-income taxpayer clinic that is closest to Bridgeport is the University of Connecticut Law School Tax Clinic, along 65 Elizabeth Street in Hartford. It can be reached through (860) 570-5165.

• What penalties are imposed in Bridgeport for tax fraud?

  Income tax fraud has been categorized as a Class D felony in Bridgeport, which carries a maximum fine of $4,000 or imprisonment from one to five years, or both. In accordance with Connecticut General Statutes Section 12-736, if someone willfully attempts to escape any due taxes, fails to pay, sign, and/or submit any returns, or refuses to provide any requested information with the purpose of defrauding, they will face a penalty for fraud.

• Are Bridgeport residents who currently live abroad still required to file tax returns?

  If Bridgeport residents or US citizens are living abroad they must still submit income, estate returns, gift, and pay estimated tax in the same manner as people who live in the US. Furthermore, if their gross income from all sources exceeds the threshold indicated for their filing status in the Filing Requirements table in Chapter 1 of Publication 54, Tax Guide for US Citizens and foreign residents they must submit a return.

• What fines could Bridgeport taxpayers incur for filing their taxes late?

  Taxpayers in Bridgeport are subject to a $50 late filing fee and a 10% penalty on any unpaid taxes that are not remitted on time. Since penalties do not compound, only one of the aforementioned punishments will be applied. The late payment penalty will be applied if a return and payment are both submitted late.

• Which spouse of a married couple in Bridgeport is accountable for tax liabilities in joint tax returns?

  Married couples in Bridgeport who file a joint tax return both assume responsibility for the entire tax obligation, including interest and penalties due, regardless of who earned the income. However, individuals may be eligible for Innocent Spouse Relief under a relief provision in the tax laws. If they qualify, they will be exempt from the tax responsibility.

• Are real estate gifts in Bridgeport tax-free?

  Recipients of properties in Bridgeport typically do not have to pay taxes on their gifts. However, the donor can owe a tax that, if unpaid, the recipient is responsible for paying. Furthermore, income tax may be owed if and when the gifted property is sold. It is referred to as a capital gains tax. Pre-gift tax planning can significantly reduce the recipient's future tax burden.