The IRS has announced that interest rates for the third quarter of 2024 will remain consistent with the previous quarter. This decision comes amidst ongoing economic evaluations and reflects the IRS’s commitment to stability in the financial landscape. Here’s an overview of the IRS interest rates for Q3 of 2024. What Are the 2024 Q3 […]
Articles by Elyssa Carlos
Tax Tips for Rideshare Drivers
The gig economy has revolutionized the way people work, providing flexibility and autonomy like never before. Ridesharing platforms like Uber, Lyft, and others have become a popular choice for those seeking extra income or a full-time job. However, amidst the freedom and flexibility, rideshare drivers often encounter challenges when it comes to understanding and managing […]
Ask Phil: Failure to Pay and Failure to File. Which is Worse?
Today, Optima Tax Relief Lead Tax Attorney, Phil, talks about the common IRS penalties: failure to pay and failure to file, including what each are, and which one is worse for taxpayers. Failure to Pay Penalty The failure to pay penalty is a financial penalty imposed by the IRS on taxpayers who fail to pay […]
Tax Checklist for Moving States
Moving to a new state is often an exciting adventure, but amidst the hustle and bustle of relocation, it’s easy to overlook important details, such as how the move will impact your taxes. State tax laws vary widely, and failing to understand and plan for these differences can result in unexpected financial consequences. To help […]
IRS Collection Financial Standards Explained
If you’ve ever had to deal with the IRS, you’ll probably agree that one of the most puzzling concepts is the IRS Collection Financial Standards. These standards play a crucial role in determining a taxpayer’s ability to pay their tax debt. They can significantly influence the outcome of negotiations with the IRS. In this article, […]