The tax filing deadline is just around the corner. If you need more time to prepare your tax return, you can file a tax extension. While a tax extension won’t give you more time to pay your taxes, it will allow a few more months to file your tax return without receiving a failure-to-file penalty. […]
Article from March 2024
What To Do If Your Tax Refund is Stolen
Tax season is a time of anticipation for many individuals, with the hope of receiving a tax refund. However, the unfortunate reality is that tax refunds, like any valuable document, can be vulnerable to theft. If you find yourself in the distressing situation of having your tax refund stolen, it’s crucial to take swift action […]
Are Employee Stock Options Considered Income?
Employee stock options (ESOs) have long been a cornerstone of compensation packages offered by companies. They are particularly common in the realm of technology and startups. ESOs represent a unique opportunity for employees to share in the success of the company they work for. They allow employees to potentially reap significant financial rewards as the […]
Who Must Pay Additional Medicare Tax?
Medicare is a vital program in the United States, providing health insurance coverage to millions of seniors and certain individuals with disabilities. To fund Medicare, various taxes are levied, including the Medicare tax. However, there’s an additional 0.9% Medicare tax that targets higher-income earners. Understanding who must pay this additional tax is crucial for both […]
IRS Collections Are Back. Will You Be Affected?
The IRS has resumed collections. If you recently received an IRS notice or owe back taxes, you could be at risk of a lien, levy, garnishment, or other means of tax collection. Optima CEO David King and Lead Tax Attorney Philip Hwang provide helpful insight on what your IRS notice means, what you need to […]