When it comes to transferring wealth, the gift tax exclusion is a valuable tool for individuals looking to pass on assets without incurring significant tax liabilities. The gift tax is a federal tax on the transfer of money or property from one person to another without receiving something of equal value in return. However, the […]
What You Need to Know About IRS Bank Levies
When dealing with unpaid taxes, one of the most significant and immediate consequences can be an IRS bank levy. This action allows the IRS to legally seize funds directly from your bank account to satisfy outstanding tax debts. Understanding how an IRS bank levy works, how it can be avoided, and the steps to take […]
Optima Tax Relief Named to 2024 Forbes Advisor ‘Best Of’ List for Tax Relief Services
The national tax firm was recognized for outstanding customer service, transparency, and industry leadership Optima Tax Relief is proud to announce that it has been named to the 2024 Forbes Advisor ‘Best Of’ list for Tax Relief Services. This prestigious recognition highlights Optima’s unwavering commitment to providing exceptional tax relief services to individuals and businesses […]
Can The IRS Really Take Everything I Own?
The IRS can seize your assets if you owe back taxes and fail to resolve your tax debt. This includes bank accounts, wages, and even physical property like cars or homes. Optima Tax Relief CEO, David King, and Lead Tax Attorney, Philip Hwang, provide helpful insight on how you can resolve your tax burden and […]
Q3 2024 Estimated Taxes Are Due. Are You Prepared?
As the third quarter of 2024 comes to a close, taxpayers must remember a crucial deadline: Q3 estimated taxes are due. Whether you’re self-employed, an investor, or someone with substantial income not subject to withholding, making timely estimated tax payments is essential to avoid penalties and stay on the good side of the IRS. Here’s […]