Receiving a notice from the IRS can immediately raise concerns, especially when it proposes additional tax owed. If you have received IRS Notice CP2000, it is critical to understand what it means and how to handle it properly. This notice is not a formal audit and it is not automatically a bill. Instead, it is a proposed adjustment based on income information […]
How AI Is Changing Tax Compliance and Enforcement
Artificial intelligence is no longer a futuristic concept in taxation. It is already influencing how tax returns are reviewed, how audits are selected, and how noncompliance is detected. As governments and organizations handle growing volumes of financial data, AI in tax compliance has emerged as a powerful tool to manage complexity, reduce errors, and strengthen enforcement. At the same time, the […]
Can You Deduct IVF or Fertility Treatments?
Fertility treatments like in vitro fertilization (IVF) can be life-changing for couples and individuals struggling with infertility, but they often come with substantial financial costs. Understanding whether these expenses are deductible, the IRS rules, the requirement for medical necessity, and the latest 2026 updates is essential for anyone planning to claim these costs. This guide breaks down […]
Itemized Deductions vs. Standard Deductions: Which Saves More?
Choosing between itemized deductions vs standard deduction is one of the most important decisions taxpayers make each year. With recent changes from the One Big Beautiful Bill (OBBB), including enhanced standard deductions, a new senior deduction, and expanded SALT limits, it’s more important than ever to understand not just how deductions work but which set of rules […]
Trump Account 2026: How to Open, Contribute, and Grow Your Child’s Savings – Optima Tax Relief
Wondering how to help your children start building wealth from day one? CEO David King and Chief Tax Officer & Lead Tax Attorney Philip Hwang explain the new Trump Account, a tax-advantaged savings account for children under 18. Discover how the accounts grow over time, the $1,000 government seed contribution, and how parents or guardians […]