Tax Blog

Jan 08

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…

Dec 22

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Employee Retention Credit Voluntary Disclosure Program Announced By IRS

By Salvatore Bochicchio News, Tax Credits

On December 21, 2023, the Internal Revenue Service (IRS) introduced a new Voluntary Disclosure Program. This program is designed to help businesses that have mistakenly filed claims for the Employee Retention Credit (ERC) to pay back the money they received…

Oct 20

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person trying to grab women's piggy bank

What You Need to Know When Facing an IRS Bank Levy

By Salvatore Bochicchio Tax Levy

An IRS Bank Levy is one of the ways the Internal Revenue Service (IRS) can collect unpaid taxes. If you owe back taxes and have not made arrangements to resolve your debt, the IRS can seize your bank account for…

Sep 06

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IRS Notice of Deficiency – Letters 3219 and 531

By Salvatore Bochicchio IRS Audit, IRS Notices

An IRS Notice of Deficiency, also known as a "90-day letter," is a notice that no taxpayer wants to receive. It was sent to you because the IRS is proposing an increase to your taxes due to a mail or…

Aug 16

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What You Need To Know About IRS Lien Subordination

By Salvatore Bochicchio Tax Lien, Tax Resolution Strategy

To understand IRS lien subordination, you must first know what a tax lien is. Simply put, a federal tax lien is the U.S. government's legal claim against your property when you fail to pay a tax debt. When the IRS…

Aug 02

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IRS IDR: Understanding Form 4564 Information Document Request

By Salvatore Bochicchio IRS Audit

If you've been notified that your tax return is subject to an Internal Revenue Service (IRS) audit or examination, you may have received an IRS Information Document Request or IDR. This formal request from the IRS is a standard part…

Jul 19

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IRS Letter 1058: What It Means And How To Respond

By Salvatore Bochicchio IRS Collections

Getting a letter from the Internal Revenue Service (IRS) can be a source of anxiety for many individuals. One particular letter, IRS Letter 1058, frequently causes confusion and worry. It is a serious matter if you've recently received IRS Letter…

Jul 05

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Seven Things To Consider About The IRS Tax Forgiveness Program

By Salvatore Bochicchio Offer in Compromise

Sometimes unforeseen circumstances can create financial hardships that make it difficult for individuals and businesses to meet their tax obligations. To alleviate some of the financial strain, the IRS offers a Tax Forgiveness Program, officially known as an Offer in…

Jun 21

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Alternatives To Tax Attorneys To Resolve IRS Tax Debt

By Salvatore Bochicchio Tax Debt

Facing IRS tax problems can be a stressful and complex situation, and you might think you need the help of a tax attorney. While tax attorneys can provide valuable assistance and expertise, they may not be necessary or affordable for…

Jun 07

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How Far Back Can the IRS Audit? Exploring Tax Audit Timeframes

By Salvatore Bochicchio IRS Audit, Statute of Limitations

Tax audits are often the stuff of nightmares for many taxpayers. The idea of the Internal Revenue Service (IRS) combing through your financial records and scrutinizing your tax returns can be intimidating. One common question that arises is, "How far…

East Coast Tax Consulting Blog

How to Challenge A Trust Fund Recovery Penalty Assessment

Employee Retention Credit Voluntary Disclosure Program Announced By IRS

What You Need to Know When Facing an IRS Bank Levy

IRS Notice of Deficiency – Letters 3219 and 531

What You Need To Know About IRS Lien Subordination

IRS IDR: Understanding Form 4564 Information Document Request

IRS Letter 1058: What It Means And How To Respond

Seven Things To Consider About The IRS Tax Forgiveness Program

Alternatives To Tax Attorneys To Resolve IRS Tax Debt

How Far Back Can the IRS Audit? Exploring Tax Audit Timeframes

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