Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, explains what’s “On TAP” for taxpayers this year—and no, he’s not talking about drinks. TAP stands for the Taxpayer Advocacy Panel, a Federal Advisory Committee to the Internal Revenue Service (IRS), that serves as the voice of taxpayers by providing recommendations to improve the IRS experience. This year, […]
Ask Phil: 3 Common Tax Habits a Tax Attorney Avoids
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, shares three things he would never do as a taxpayer-and one thing he always makes sure to do every tax season. Don’t Trust Guaranteed Refund Promises If you’re hiring someone to prepare your taxes, it’s important to avoid anyone who guarantees the biggest refund. No legitimate tax professional can […]
Ask Phil: How a CP2000 Notice Can Delay Your IRS Tax Resolution
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, shares his least favorite IRS notice—and surprisingly, it’s not the final levy notice many taxpayers fear. Instead, it’s the CP2000 notice. What Is a CP2000 Notice? A CP2000 notice is sent when the IRS believes you failed to report all of your income on your tax return. This usually happens when the income reported […]
Ask Phil: Is Filing Taxes Voluntary?
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, answers a common question: “Is filing taxes voluntary—do I really have to file?” The answer is yes… but also no. While the U.S. tax system is technically considered voluntary, there’s an important catch that taxpayers need to understand. What “Voluntary” Really Means The system is called voluntary […]
Ask Phil: What the IRS 10-Year Collection Rule Really Means
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, answers a common concern: “I got a letter from the IRS saying I owe taxes from more than 10 years ago. Can they still collect?” The answer is yes—and it all comes down to something called the Collection Statute Expiration Date (CSED). What Is the CSED? […]
Ask Phil: Can I Make a Payment Before Filing an Amended Return?
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, answers another question from Reddit: “Can I make an estimated tax payment before filing a 1040-X?” A Form 1040-X is used to amend a previously filed tax return, and in this case, the taxpayer is looking to correct multiple years—possibly due to missing income. Understanding […]