When it comes to unpaid taxes, the IRS has powerful tools at its disposal to collect the debt. Among these tools is the ability to seize your assets, including your car. But under what circumstances can the IRS actually take your vehicle, and what can you do to protect yourself? Here’s what you need to […]
Article from August 2024
Tax Implications of Class Action Settlements
Did you receive a settlement for a class action or personal injury lawsuit? If you have, you could face major tax implications with the IRS. CEO David King and Lead Tax Attorney Philip Hwang provide helpful tips on how to avoid any tax time surprises and how you can navigate dealing with the IRS if […]
Ask Phil: Can I Haggle with the IRS?
Today, Optima Tax Relief Lead Tax Attorney, Phil, answers a common question: “Can I haggle with the IRS?” While negotiating with the IRS can be complex, taxpayers have options and rights that provide some level of negotiating power. The extent of a taxpayer’s negotiating power largely depends on their financial situation, the type of tax […]
Tax Guide for Native Americans
Navigating taxes can be challenging for anyone, and Native Americans often face unique circumstances that require careful consideration. This guide aims to provide a comprehensive overview of the tax responsibilities and benefits specific to Native Americans in the United States. Understanding Sovereignty and Taxation A fundamental aspect of taxation for Native Americans is the concept […]
Ask Phil: How Do I Get My IRS Debt Forgiven?
Today, Optima Tax Relief Lead Tax Attorney, Phil, answers a common question: “How do I get my IRS debt forgiven?” What is Tax Debt Forgiveness? If you want to reduce your tax liability with the IRS, you have some options. Audit Reconsideration Audit reconsideration is a process offered by the IRS that allows […]