Dealing with the IRS can be tough, and disputes with them can add significant stress to taxpayers. However, the IRS Appeals process offers a structured pathway for resolving disagreements without taking it to court. Here are the essentials of IRS Appeals, including its purpose, the steps involved, and how taxpayers can effectively navigate this process. […]
Optima Newsletter – July 2024
How IRS Installment Agreements Work When most people first examine tax relief options, they might have their hopes set on an offer in compromise – or their tax debt settled for less than what they owe. Unfortunately, OICs are more often denied by the IRS than they are accepted. When tax debt becomes too much […]
IRS Interest Rates Remain the Same for Q3 of 2024
As we officially move into the third quarter of 2024, the IRS has announced that interest rates will remain unchanged. This decision continues the trend of stability in interest rates, providing predictability for taxpayers and financial planners alike. Here’s a breakdown of the recent IRS announcement. Current Interest Rates For the third quarter of 2024, […]
IRS Form 1099-LTC Explained
As the landscape of health care and financial planning evolves, it becomes increasingly crucial to understand the various tax forms that can impact both. One such form is the IRS Form 1099-LTC. This article aims to provide a comprehensive overview of what Form 1099-LTC is, its purpose, and how it affects taxpayers. What is IRS […]
What is a Taxpayer Assistance Center?
Navigating tax laws and filing requirements can be overwhelming for many individuals and businesses. To help ease this burden, the IRS offers a valuable resource known as a Taxpayer Assistance Center (TAC). These centers provide in-person help for various tax-related issues. They help ensure that taxpayers have access to the information and support they need. […]