There are instances where income will not be taxed, whether or not you report it during tax season. Understanding which earnings are taxable versus non-taxable could save you a lot of time and trouble when you file your tax returns. Non-taxable earnings The following forms of income are non-taxable: Most healthcare benefits Scholarships and student […]
Article from May 2022
Do You Qualify for an IRS Installment Agreement?
Paying an IRS liability in full isn’t always an option. This is why the IRS offers installment agreements, or payment plans, to help taxpayers pay off their debt. For this week’s episode, CEO David King discusses installment agreement options with Lead Tax Attorney Philip Hwang. If You Need Tax Help, Contact Us Today for a Free […]
Optima Newsletter – May 2022
IRS Unclaimed Tax Refunds The IRS announced that it has $1.5 billion in tax refunds from 2018 and gave taxpayers until the end of the season to claim their money. If you missed out on claiming your refund, there are steps you can take to make sure you claim other refunds from 2019 and […]
Do You Qualify for IRS Penalty Relief?
Penalty abatements provide relief from IRS tax penalties. How do you know if you’re eligible? If you are looking to resolve your tax burden with the IRS, you may qualify for a penalty abatement. Optima CEO David King and Lead Tax Attorney Philip Hwang discuss the two most common circumstances that would qualify you for […]