Today, Optima Tax Relief Lead Tax Attorney, Phil, talks about the Child Tax Credit, breaking down what it is and who qualifies. What is the Child Tax Credit? The child tax credit is a tax benefit provided by the IRS to parents or guardians who have dependent children. It’s designed to help offset the costs […]
Article from May 2024
What is the Single’s Tax?
Living alone can be liberating, offering independence and autonomy. However, it often comes with a financial burden dubbed the “singles tax.” This term refers to the additional costs incurred by individuals who choose to live independently, without the financial support or cost-sharing benefits that come with living with a partner or family. Here we’ll break […]
Someone Filed a Fraudulent Tax Return in My Name. Now What?
Tax season can already be stressful without the added burden of discovering that someone has filed a fraudulent tax return using your identity. Unfortunately, tax-related identity theft is a real concern in today’s digital world. If you suspect or discover that someone has filed a fraudulent tax return in your name, take immediate action. Here […]
IRS Announces Interest Rates for Q3 of 2024
The IRS has announced that interest rates for the third quarter of 2024 will remain consistent with the previous quarter. This decision comes amidst ongoing economic evaluations and reflects the IRS’s commitment to stability in the financial landscape. Here’s an overview of the IRS interest rates for Q3 of 2024. What Are the 2024 Q3 […]
Tax Tips for Rideshare Drivers
The gig economy has revolutionized the way people work, providing flexibility and autonomy like never before. Ridesharing platforms like Uber, Lyft, and others have become a popular choice for those seeking extra income or a full-time job. However, amidst the freedom and flexibility, rideshare drivers often encounter challenges when it comes to understanding and managing […]