Receiving an IRS collection notice can be stressful, especially when the notice includes unfamiliar terms or references the IRS Automated Collection System. Many taxpayers are unsure what ACS is, why their account is being handled by it, or whether the IRS is about to take more serious collection action. The IRS Automated Collection System (ACS) […]
What is Form 1099-K?
If you sell products online, run a side hustle, accept credit card payments, or receive payments through certain third-party platforms, you may receive a Form 1099-K at tax time. The form can be confusing because the amount listed on it is not necessarily the same as your taxable income. A 1099-K is an IRS information […]
GoFundMe: How are Donations Taxed?
Crowdfunding is the act of funding a project by collecting small donations from a large number of individuals, often online. GoFundMe has become a powerful platform for individuals and organizations to raise funds for various causes. These range from medical expenses and emergency relief to community projects and personal aspirations. However, many users of the […]
What You Need to Know About State Tax Audits
We often discuss IRS tax audits, but state tax authorities can also examine your tax returns and business records. Like an IRS audit, a state tax audit can be stressful and intimidating. However, understanding why audits happen and what to expect can help you prepare for the process. A state income tax audit may involve […]
Do I Need a Tax Attorney?
Tax problems can range from a simple question about a tax return to a complicated dispute involving the IRS, substantial tax debt, or potential legal consequences. If you are wondering, do I need a tax attorney? The answer depends largely on the complexity of your situation, the amount of money involved, and whether your tax […]
What Tax Bracket Am I In? Complete 2026 Guide
If you’re wondering what tax bracket you may be in, the answer depends on two key factors: your taxable income and your federal tax filing status. For 2026, federal income tax rates range from 10% to 37%, but being in a particular tax bracket does not mean all of your income is taxed at that […]
Ask Phil: What Are My Options If I Owe the IRS?
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, answers a common question: “I just got a bill from the IRS. What are my options?” While the answer depends on your financial situation and the amount you owe, there are several ways to address an IRS tax liability. Option 1: Pay in Full […]
What Uber Drivers Can Deduct
Driving for Uber can provide flexible income, but it also comes with tax responsibilities. Because Uber drivers generally work as independent contractors, taxes typically aren’t withheld from their earnings like they are for employees. However, drivers can claim eligible business expenses that may reduce their taxable income. The most valuable Uber driver tax deductions often […]
How Long Does It Take to Fix Tax Identity Theft?
Tax identity theft can take a long time to resolve. The IRS’s stated goal is 120 days, but current IRS and Taxpayer Advocate Service data show actual resolution times running far longer, with the national average now around 19 to 20 months and currently trending longer for identity theft victim assistance cases. How long it […]
New IRS Gambling Deduction Rules and How They Could Impact Your Taxes – Optima Tax Relief
Wondering how the new gambling tax rules could affect your 2026 tax return? CEO David King and Chief Tax Officer & Lead Tax Attorney Philip Hwang explain the new limitations on gambling loss deductions under the One Big Beautiful Bill Act and what they could mean for taxpayers. Learn how gambling winnings are taxed, when […]