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What is a Tax Levy?

An IRS tax levy can be a frightening thing. If you’ve received a notice of an impending levy, you may justifiably be confused, scared, and resentful…maybe even a little embarrassed. However, the good news is that even if you’ve gotten to the place where you receive a tax levy, you still have several options before…

Employee Retention Credit

Retroactively Claim the Employee Retention Credit

The Employee Retention Tax Credit (ERC) is a refundable payroll tax credit created to provide relief to business owners affected by the pandemic and help keep their employees on payroll. Generally, eligible businesses can claim the credit for tax years 2020 and 2021.  ERC credit can be claimed retroactively for 2020 and 2021 credits ERC…

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state PTE tax election

States Pass Elective PTE Tax: A Workaround for the SALT Cap

Several states have enacted elective pass-through entity taxes as a workaround to the federal cap on individuals’ state and local tax deductions. When a pass-through entity tax is chosen, the tax is applied to the entity rather than the owners directly. Generally, qualifying pass-through entities include entities taxed as S-Corporations and Partnerships; some states also…

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recovery rebate

What is the Recovery Rebate Credit and how does it work?

The third stimulus payment was an advance payment of the 2021 Recovery Rebate Credit. If you did not receive a third stimulus payment check or an amount less than you were eligible for, you could claim the Recovery Rebate Credit on your 2021 tax return. Since March 2021, more than 175 million third economic stimulus…

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Why small business owners love working with Eco-Tax
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    Claudia Fierro-Poppen, Owner - Ommie Snacks
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    Matt, Owner - Winery
  • My business management has become infinitely less complicated, and I have more time to focus on my products and customers. Highly recommend the Eco-Tax team!

    Megan, Owner

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