Business owners in Washington State are required to withhold certain federal taxes from their employees' paychecks. These taxes include federal income taxes, excise taxes, FICA, Social Security taxes and railroad retirement taxes. When business owners fail to collect...
Tax Debt
Tax Debt
Tips for managing tax debt in Washington
Unfortunately, there are cases where people are unable to produce the amount of money they owe the United States government in taxes. Residents of Seattle who find themselves overwhelmed by tax debt should educate themselves on how to better manage that debt and...
Watch for these 2021 tax changes
There are few things more certain for Washington residents than the yearly need to report income and settle any tax bills with the IRS. It is also common for slight changes in tax codes to affect the process each tax season. Taxpayers will likely notice several...
What to know about IRS tax rules and paying late
Washington taxpayers are required to pay any federal income taxes that they owe by April 15. However, taxpayers are allowed to request an extension to file their returns until Oct. 15. Take a look at the various penalties that you might face if you fail to meet a tax...
IRS resumes audits, with renewed focus on high-income taxpayers
The Internal Revenue Service (IRS) recently announced it will renew audit efforts that were postponed a few months ago in response to the current coronavirus pandemic. The federal agency, like most organizations and businesses throughout the country, greatly reduced...
An offer in compromise could settle your tax debt for less
If you are unable to pay what you owe in taxes, or if paying would create a financial hardship for you, the IRS may consider what is called an “offer in compromise” to settle your tax debt. Essentially, the IRS is sometimes willing to settle your debt for the amount...