Tax Blog

Aug 11

Who is Responsible for Unpaid Payroll Taxes?

By East Coast Tax Consulting Payroll Taxes

When a business employs people, they become responsible for employment taxes in two ways. First, the business must withhold part of an employee’s wages in order to pay income taxes, Social Security taxes, and Medicare taxes. These payroll taxes are referred…

Aug 04

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What is an Injured Spouse Claim?

By East Coast Tax Consulting Innocent Spouse Relief

If your spouse owes back taxes, the IRS can and will keep any future tax refunds they’re due to pay their tax debt. Unfortunately, your refund can also be applied to other past-due obligations of your spouse even if the…

Jul 28

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How Far Back Can You Amend a Tax Return + Other FAQs

By East Coast Tax Consulting Tax Returns

Sometimes, it can feel like filing taxes is more of an art than a science. Tax laws are constantly changing. You must also rely on employers, banks, and other organizations for accurate information about your income and deductions. Despite your best…

Jul 21

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Is a Nonstreamlined Installment Agreement Right for You?

By East Coast Tax Consulting Installment Agreement

Over the last year, the IRS has recognized the financial burden many taxpayers are facing due to the COVID-19 pandemic. The agency modified a number of ways it collects back taxes, including the introduction of installment agreements that don’t require…

Jul 14

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Offer in Compromise vs Chapter 7 Bankruptcy for Tax Debt Resolution

By East Coast Tax Consulting Offer in Compromise

You’re facing back taxes you don’t think you’ll be able to pay in full. You’ve done some research on your options. You may have even contacted a tax resolution professional for a free consultation. Now, you’re looking at an offer in…

Jun 16

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Boca Raton Taxpayer Asks: What’s the Difference Between Tax Levy and Tax Lien

By East Coast Tax Consulting Tax Lien

The circumstances leading up to an IRS lien and levy are similar, and both are used by the IRS to satisfy tax debt. The two words even sound a little bit alike! It’s understandable that sometimes taxpayers facing IRS tax…

Jun 09

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Still Waiting for Your Tax Refund?

By Salvatore Bochicchio News, Tax Returns

You are not alone. We’ve heard from some clients who are still waiting on refunds from returns filed early in the year. In normal times, unless there is an error, the IRS will issue most tax refunds in less than…

Jun 02

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What Comes After IRS Notice CP 504?

By East Coast Tax Consulting Tax Levy

IRS Notice CP 504 is a Notice of Intent to Levy. However, it’s not exactly what it sounds like. This document is actually the final reminder of your past-due tax bill from the IRS. While you should immediately pay (or…

May 26

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The Importance of Tax Planning for Individuals and Businesses

By East Coast Tax Consulting Tax Planning

Tax planning is part of a healthy, strategic financial plan. It’s a great way to take a step back and consider how all facets of your finances and even your lifestyle as a whole have the potential to impact your…

May 19

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IRS Estimates the Tax Gap to be $1 Trillion a Year Due to Tax Cheats

By Salvatore Bochicchio IRS Collections, News

As part of its oversight role, Congress is constantly assessing the economic health of the United States, so hearing from Internal Revenue Service Commissioner Chuck Rettig that the country may be losing up to $1 trillion a year in evaded…

East Coast Tax Consulting Blog

Who is Responsible for Unpaid Payroll Taxes?

What is an Injured Spouse Claim?

How Far Back Can You Amend a Tax Return + Other FAQs

Is a Nonstreamlined Installment Agreement Right for You?

Offer in Compromise vs Chapter 7 Bankruptcy for Tax Debt Resolution

Boca Raton Taxpayer Asks: What’s the Difference Between Tax Levy and Tax Lien

Still Waiting for Your Tax Refund?

What Comes After IRS Notice CP 504?

The Importance of Tax Planning for Individuals and Businesses

IRS Estimates the Tax Gap to be $1 Trillion a Year Due to Tax Cheats

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