Did you receive a surprise tax bill after underreporting income? CEO David King and Lead Tax Attorney Philip Hwang provide insight on what your tax bill could mean and steps you could take to resolve your tax burden with the IRS. If You Need Tax Help, Contact Us Today for a Free Consultation
What To Do If You Receive IRS Notice CP49
Receiving an IRS notice can be unsettling, especially when it concerns your tax refund. IRS Notice CP49 informs taxpayers that their federal tax refund has been applied to a prior year’s outstanding tax debt. While it may come as a surprise, understanding what to do if you receive IRS notice CP49 can help you address […]
Optima Tax Relief Named Orange County Register Top Workplace for 10th Consecutive Year
Leading Tax Resolution Firm Celebrates Decade-Long Legacy of Workplace Excellence Optima Tax Relief, the nation’s leading tax resolution firm, has been named a Top Workplace by the Orange County Register for the tenth consecutive year, marking a decade of excellence in workplace culture and employee satisfaction. The prestigious recognition is based solely on employee feedback gathered through […]
How Does a Home Foreclosure Affect Your Taxes?
Home foreclosure is a difficult and often overwhelming experience. Beyond the emotional and financial strain of losing your home, a foreclosure can also come with significant tax implications that many homeowners may not be prepared for. Understanding these tax consequences is crucial to navigating this challenging time and avoiding surprises when filing your tax return. […]
What is a Trust Fund Recovery Penalty?
The Trust Fund Recovery Penalty (TFRP) is an enforcement tool used by the IRS to ensure the proper handling of trust fund taxes. It particularly pertains to payroll taxes withheld from employee wages. For business owners and individuals involved in financial decision-making, understanding the TFRP is vital to avoid severe financial and legal repercussions. This […]