One of the most significant obligations U.S. taxpayers have is to file an annual federal tax return. However, life gets busy, and sometimes individuals either forget or deliberately neglect to file. When this happens, the IRS doesn’t simply forget about it. Instead, they may take matters into their own hands by filing a “Substitute for […]
Articles from October 2024
How to Earn Money as an IRS Whistleblower
The IRS Whistleblower Program is an initiative that rewards individuals who report tax noncompliance to the IRS, potentially leading to significant monetary awards. If you are aware of tax evasion or fraud, you may be eligible to earn a percentage of the proceeds recovered from the offender. This guide will explore how you can earn […]
How Data Breaches Affect Your Taxes
Over 2.9 billion records of personal data, including Social Security numbers, were leaked on the dark web, putting taxpayers at risk of tax identity theft. Optima CEO David King and Lead Tax Attorney Philip Hwang explain what tax identity theft is, how it can affect you, and how to resolve it! If You Need Tax […]
How Long Does an Offer in Compromise Take?
If you’re facing significant tax debt and struggling to make ends meet, the Offer in Compromise (OIC) process may offer a lifeline. This tax negotiation program, offered by the IRS, allows qualifying taxpayers to settle their tax debts for less than the full amount owed. While this can be a valuable option, it’s important to […]
Ask Phil: 3 Things the IRS Will Never Do
Today, Optima Tax Relief Lead Tax Attorney, Phil, discusses 3 things the IRS will never do. These items are crucial to avoid growing tax scams. The IRS Will Never Threaten You with Law Enforcement The IRS does not use scare tactics like threatening taxpayers with arrest, deportation, or police involvement to collect taxes. Legitimate communications […]