Ignoring IRS tax debt is rarely an intentional decision, but it is a common one. Many taxpayers delay action out of fear, confusion, or the belief that the IRS will not act quickly. Unfortunately, when you ignore IRS tax debt, the consequences compound quietly and steadily, often becoming far more severe than the original balance […]
Chief Tax Officer and Lead Tax Attorney at Optima Tax Relief, Phil Hwang, Appointed National Chair of IRS Taxpayer Advocacy Panel
Optima Tax Relief announced today that Philip Hwang, its Chief Tax Officer and Lead Tax Attorney, has been appointed National Chair of the Taxpayer Advocacy Panel (TAP) for 2026. TAP is a Federal Advisory Committee to the Internal Revenue Service (IRS), composed of approximately 75 citizen volunteers who listen to taxpayers, identify issues, and provide […]
Forgot to File Taxes for 3+ Years? Here’s What to Do
Forgot to File Taxes for 3+ Years? Here’s What to Do Forgetting to file taxes for several years is far more common than most people are willing to admit. Changes in employment, self-employment income, financial hardship, divorce, illness, or simply not understanding filing requirements can easily lead to multiple unfiled returns. Unfortunately, once one year is […]
What is the Safe Harbor Rule for Underpaying Estimated Tax?
The IRS requires most taxpayers to pay taxes throughout the year as income is earned, rather than waiting until a return is filed. When those payments fall short, the IRS may impose an underpayment penalty, even if the full tax bill is eventually paid. The safe harbor tax rules provide structured, predictable ways to avoid those […]
Tax Benefits of Health Savings Accounts
As healthcare costs continue to rise, more taxpayers are looking for ways to manage medical expenses without undermining their long-term financial goals. One of the most effective yet often misunderstood tools available is the Health Savings Account (HSA). While HSAs are commonly associated with paying for out-of-pocket medical costs, their true value lies in the significant tax […]