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 […]
Ask Phil: What does EITC stand for?
Today, Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, explains one of the most valuable tax breaks for low- to moderate-income earners: the EITC. What Is the EITC? EITC stands for the Earned Income Tax Credit. It’s a refundable tax credit designed to help working individuals and families with low to moderate […]
Ask Phil: Is the IRS Shutting Down?
Today, Optima Tax Relief Lead Tax Attorney, Phil, addresses the trending myth: Is the IRS shutting down? The short answer: no, it’s not. Why the IRS Isn’t Going Anywhere Recently, talk of the IRS shutting down has picked up steam, especially online. Some of the talk is tied to Donald Trump’s return to the presidency […]
I Resolved My Account with the IRS. Now What?
Today, Optima Tax Relief Lead Tax Attorney, Phil, answers a common question we hear from clients: “I resolved my account with the IRS. Now what?” What It Means to Resolve Your Tax Account First, congratulations! Resolving your tax account is a big deal. Whether you set up a standard Installment Agreement, secured a Partial Payment […]