If you’re a taxpayer, few things sound more terrifying than hearing a knock at your door, only to find someone claiming to be from the IRS. But does the IRS really show up at your door? In recent years, the Internal Revenue Service has changed its procedures to reduce confusion and increase taxpayer safety. That […]
Taxes on Social Security Benefits
Social Security benefits are a crucial financial lifeline for many retirees. Many taxpayers are often shocked to learn that their Social Security benefits can be taxed by the federal government. Taxes on Social Security benefits are dependent on a variety of factors, making it essential for retirees to understand the rules and implications of Social […]
What is a Tax Settlement?
Tax settlements play a vital role in managing financial obligations by offering individuals and businesses a way to resolve outstanding tax debts with the IRS. This article explores the tax settlement process, detailing the available options, key implications, and important factors to consider. Understanding Tax Settlements Tax settlements, also known as tax resolutions, refer to […]
Ask Phil: Is There A Lien On Your House?
Today, Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, shares what a federal tax lien is and what steps you can take if the IRS has already filed one against your home. Option One: Pay Your Balance in Full The fastest way to remove a lien is to pay your tax debt […]
What You Need to Know About State Tax Audits
We often discuss IRS tax audits, but you can just as easily be audited by your state. Like an IRS audit, state tax audits can be stressful and intimidating for taxpayers. But what triggers a state tax audit? Is it less severe than an IRS audit? Would a state tax audit result in an automatic […]