Today, Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, answers a common Reddit question: “Can I skip paying my taxes this year?” Technically, paying your taxes is a completely voluntary act. However, skipping your taxes is never a good idea. Penalty and Interest Risks The IRS can assess penalties for both failing to file your tax return and failing to pay taxes owed by the […]
Ask Phil: Big Beautiful Bill Summary
Today, Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, breaks down three of the most talked-about tax changes in the Big Beautiful Bill and what they could mean for your wallet. There’s been a lot of buzz around the new tax bill, especially for middle- and low-income taxpayers. While the bill includes […]
Ask Phil: Is There A Lien On Your House?
Today, Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, shares what a federal tax lien is and what steps you can take if the IRS has already filed one against your home. Option One: Pay Your Balance in Full The fastest way to remove a lien is to pay your tax debt […]
Ask Phil: The “New IRS”
Today, Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, unpacks the meaning behind the term “New IRS,” and what it means if you owe back taxes. What Is the “New IRS”? The phrase “New IRS” refers to the agency’s major transformation driven by the Department of Government Efficiency (DOGE). DOGE promised to […]
Ask Phil: Missed Your Tax Deadline?
Today, Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, shares what to do if you missed the tax deadline and how to avoid making things worse. Step One: Pay What You Can If you missed the deadline but have the funds available, the best thing you can do is pay your tax […]
Ask Phil: Are Student Loan Collections Back?
Today, Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, discusses what’s happening with student loan collections and what it means if you’ve defaulted on yours. Yes, Student Loan Collections Are Back After years of pauses and extensions, federal student loan collections have officially resumed. If you’ve defaulted on your student loans, this […]