Ask Phil Video Series

Today, Optima Tax Relief Lead Tax Attorney, Phil, talks about his three takeaways from the current tax landscape.   IRS Interest Rates Could Increase  For much of the pandemic, we saw IRS interest rates hold steady. For example, the interest rate accumulating on unpaid taxes was 3% for half of 2020 and all of 2021. In […]

Today, Phil discusses what options you have if you cannot afford to do your taxes.  If you can’t afford to do your taxes, you can check to see if you’re eligible for free tax preparation. You can check out these two sites for more information.  IRS Free File  If you would like to file your […]

Today, Phil gives his top tips on how to avoid IRS levies and liens.   Tip #1: Don’t Owe the IRS  Avoiding owing the IRS begins with responsible financial management and proactive tax planning. First, maintain accurate records of all income and expenses throughout the year, ensuring you’re well-informed about your financial standing. Next, regularly review […]

Today, Phil explains what a tax attorney is, including what it takes to become one and how they can help you with your tax issues.  What is a Tax Attorney?  A tax attorney is a legal professional who specializes in tax law. They are trained and experienced in dealing with complex tax issues, including tax […]

Today, Phil discusses the Financial Crimes Enforcement Network, also known as FinCEN.  If you’ve never heard of the Financial Crimes Enforcement Network, you aren’t alone. FinCEN is a bureau of the United States Department of the Treasury. The Financial Crimes Enforcement Network’s primary mission is to combat and prevent financial crimes, including money laundering, terrorist […]

Today, Phil discusses his top 5 tax tips for 2024.   Tax Tip #5: Gather Your Tax Documents Early  Most tax forms, including your W-2s and most 1099s, should be sent to you by January 31. However, there are some tax documents that come in a bit later. For example, 1099-B and 1099-MISC are due to […]