Tax Blog

Aug 20

Is Your Business Subject To Beneficial Ownership Information Reporting?

By Salvatore Bochicchio Corporate Transparency Act, News

This year, many businesses must comply with the Corporate Transparency Act (CTA), passed into law as part of the National Defense Authorization Act for Fiscal Year 2021. The CTA requires disclosing beneficial ownership information from individuals who own or control…

Aug 11

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Offer in Compromise Program: Why the IRS Might Return or Reject Your Offer

By Salvatore Bochicchio Offer in Compromise

The Offer in Compromise program (OIC) allows taxpayers to settle their tax debt with the Internal Revenue Service (IRS) for less than the total amount owed. While this can be a helpful option for those facing significant financial hardship, the…

Jun 25

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Your Guide to Understanding IRS Debt Relief Companies

By Salvatore Bochicchio Tax Debt, Tax Relief

Taxpayers dealing with tax debt can feel overwhelmed and stressed, particularly with the IRS' threat of penalties, interest, and enforced collection. During these trying times, IRS debt relief firms become valuable partners, providing specialized services to assist taxpayers in navigating…

Jun 10

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Trust Fund Penalty Frequently Asked Questions

By Salvatore Bochicchio Payroll Taxes

Managing payroll taxes is a crucial responsibility for business owners. A key area of concern arises when payroll tax deposits are not made, as this can lead to the Trust Fund Penalty, also known as the Trust Fund Recovery Penalty…

May 28

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IRS Private Collection Agency Scams: What You Need to Know

By Salvatore Bochicchio IRS Collections

In recent years, the Internal Revenue Service (IRS) has employed private collection agencies (PCAs) to recover overdue tax debts. While this initiative aims to improve tax collection efficiency, it has also created opportunities for scammers to exploit taxpayers. Understanding how…

May 20

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blue wooden desk with tax relief written on notepad

Palm Beach Tax Relief Help: The Role of CPAs

By Salvatore Bochicchio Tax Relief

Tax debt can significantly burden individuals and businesses, causing stress and financial instability. In Palm Beach, tax relief help is available to guide you through the complexities of resolving tax issues. Certified Public Accountants (CPAs) who specialize in tax relief…

Mar 01

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IRS Targets High-Income Non-Filers

By Salvatore Bochicchio News, Tax Returns

The Internal Revenue Service has announced a new initiative to enhance tax compliance and ensure equity. The campaign will concentrate on wealthy taxpayers who have neglected to file their federal income tax returns in over 125,000 instances since 2017. Non-Filer…

Feb 29

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What to Do if You Receive a CP14 Notice

By Salvatore Bochicchio IRS Notices

Receiving a notice from the Internal Revenue Service (IRS) can be an unsettling experience for any taxpayer. One of the types of notices the IRS sends is called CP14. This notice informs you about the unpaid tax amount due for…

Jan 23

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Form 14135 Application for Certificate of Discharge

Use Form 14135 to Request an IRS Lien Discharge

By Salvatore Bochicchio Tax Lien

The filing of a Notice of Federal Tax Lien by the IRS automatically applies to all your property, including your home. Although a tax lien does not lead to immediate collection of your tax debt, such as through wage garnishment…

Jan 08

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How to Challenge A Trust Fund Recovery Penalty Assessment

By Salvatore Bochicchio Payroll Taxes, Tax Resolution Strategy

A Trust Fund Recovery Penalty assessment is a tool the IRS uses to enforce the collection of unpaid payroll taxes. These taxes include federal income taxes and employee contributions to FICA (Social Security and Medicare). The trust fund penalty is…

East Coast Tax Consulting Blog

Is Your Business Subject To Beneficial Ownership Information Reporting?

Offer in Compromise Program: Why the IRS Might Return or Reject Your Offer

Your Guide to Understanding IRS Debt Relief Companies

Trust Fund Penalty Frequently Asked Questions

IRS Private Collection Agency Scams: What You Need to Know

Palm Beach Tax Relief Help: The Role of CPAs

IRS Targets High-Income Non-Filers

What to Do if You Receive a CP14 Notice

Use Form 14135 to Request an IRS Lien Discharge

How to Challenge A Trust Fund Recovery Penalty Assessment

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