Receiving a notice from the IRS can be stressful, especially when the letter references possible collection actions. An IRS LT11 Notice is generally issued after the IRS has already sent several previous notices regarding an unpaid tax balance and has not received payment or a satisfactory response. Because it serves as a final warning before the IRS may begin levying certain assets, such […]
Ask Phil: Does IRS Form 9297 Mean? The Revenue Officer Letter You Shouldn’t Ignore
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, breaks down IRS Form 9297, Summary of Taxpayer Contact, and what it means if you receive one in the mail. While this notice may sound intimidating, understanding what it is—and what it isn’t—can help you take the right next steps. The Bad News: You’ve Been Assigned a […]
Does Owing the IRS Affect Your Credit Score?
Many taxpayers worry that falling behind on their taxes will immediately damage their credit. If you’re carrying an IRS balance or have received collection notices, you may be wondering whether your credit score has already taken a hit. The good news is that, in most cases, owing the IRS does not directly affect your credit score. Unlike credit card companies, mortgage […]
Optima Tax Relief Concludes Annual Donation Drive Supporting Families Across Los Angeles and Orange County
Employees contributed essential goods including food, clothing, books, and footwear to local nonprofit organizations Optima Tax Relief has completed its annual donation drive, bringing together employees across the organization to support nonprofit partners serving communities throughout Los Angeles and Orange County. This year’s effort focused on providing essential goods including shoes, clothing, books, and food to organizations assisting individuals […]
Tax Help for Self-Employed Individuals
Self-employment offers flexibility and independence, but it also places full responsibility for taxes on the individual. Unlike traditional employees who have taxes automatically withheld from their paychecks, self-employed individuals must calculate their own tax liability, set aside money throughout the year, and ensure timely payments to the IRS. This often creates confusion, especially for freelancers, gig workers, […]