Tax time can be a stressful period for individuals and businesses alike. However, maintaining accurate and organized tax records throughout the year can make the process much smoother and alleviate unnecessary headaches. Whether you’re a freelancer, small business owner, or an individual taxpayer, this guide will provide you with valuable tips on how to keep […]
Articles by Elyssa Carlos
When Does the IRS Pursue Criminal Charges?
Tax evasion and tax fraud are federal crimes. Both involve the willful attempt to either evade the assessment or the payment of taxes. But at what point does the IRS pursue criminal charges for these actions? What consequences are included in the criminal charges? How does one prevent these charges from being brought upon them? […]
Can I Have a Passport If I Owe Back Taxes?
A passport is an essential travel document that allows individuals to explore new horizons, visit foreign lands, and experience diverse cultures. However, the privilege of holding a passport comes with certain responsibilities, one of which is fulfilling your financial obligations to the government. In this blog article, we will explore the question of whether you […]
What is Currently Not Collectible Status?
When taxpayers are unable to pay their tax liabilities, the IRS offers Currently Not Collectible (CNC) status. This temporarily suspends debt collection efforts by the IRS. It provides individuals with breathing room to get their finances under control. In this article, we will explore what CNC status entails, who may qualify for it, and how […]
Ask Phil: IRS Enforcement
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses IRS enforcement, including the statute of limitations and how it might affect your credit report. Did you know the IRS has a certain amount of time to collect your tax debt before it expires? How long? Well, the simple answer is 10 years, but several […]