Ask Phil Video Series

Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses penalties and interest again, but this time gives tips on how to mitigate and even remove them.   Penalties and interest can quickly get out of hand. The best way to mitigate them is to pay your tax liability. We understand that this may not […]

Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, breaks down tax extensions. Can anyone file a tax extension? When is the deadline to file?   A tax extension is an additional 6-month period the IRS grants a taxpayer to file their tax return. It is not an extension to pay your taxes. That said, […]

Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses taxes and real estate, including buying, selling, and refinancing your home while owing taxes.  Tax Liens Real estate transactions can quickly become tricky if you owe taxes and even more so if the IRS places a tax lien on your property. This means that if […]

Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses how owing back taxes can affect your travel plans, including renewing your passport or obtaining one for the first time. Here’s what you need to know about passports and taxes. You might be wondering what your passport has to do with taxes. The IRS works with […]

Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses an important update regarding surprise RO visits. The IRS just announced that it is discontinuing home visits as an enforcement method. This means the days of intimidating revenue officers (ROs) knocking on your door are over. Instead, you will receive IRS Letter 725-B, which serves […]

Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses maximizing tax deductions.  Everyone wants a big refund. So, how do we know we’re maximizing our deductions to accomplish this? It depends on whether you choose to take the standard deduction or itemize your deductions. Most taxpayers find it more financially rewarding to take the […]