The IRS Federal Payment Levy Program (FPLP) is a powerful tool the Internal Revenue Service uses to recover overdue tax debts by seizing federal payments owed to taxpayers. Introduced as part of a collaborative effort between the IRS and the Department of the Treasury’s Bureau of Fiscal Service, the FPLP ensures that individuals and businesses […]
Optima Newsletter – December 2024
Can the IRS Take My Social Security? When you have unpaid taxes, many beneficiaries fear that the IRS could step in and take a portion of their much-needed Social Security payments. It’s an unsettling thought, but it raises an important question: can the IRS take your Social Security? The answer, unfortunately, is yes—but it’s not […]
Every Tax Deadline You Need to Know in 2025
Knowing important tax deadlines in 2025 is essential for staying compliant and avoiding late penalties. Whether you’re an individual taxpayer, business owner, freelancer, or part of a corporation, being informed far beyond the typical April 15th tax deadline is key. This guide covers every key tax deadline, from individual tax returns to quarterly filings for […]
How to Report Passive Income
Passive income includes earnings from sources such as rental properties, limited partnerships, or other enterprises in which you’re not actively involved. Reporting passive income properly is crucial because failing to do so can result in IRS penalties, audits, or other legal issues. This guide will help you understand the basics of passive income, how to […]
Avoid IRS Penalties: Key Tax Deadlines!
Taxpayers who unknowingly fail to pay their tax burden to the IRS could wind up drowning in additional interest and penalties that are tacked on to their overall tax balance. CEO David King and Lead Tax Attorney Philip Hwang provide helpful insight on upcoming tax due dates and how taxpayers can resolve their tax liability […]