Tax season can be both a stressful and eagerly anticipated time of the year. Many people look forward to receiving their tax refunds, as it often represents a financial boost. However, what happens when your tax refund is late? This delay can be frustrating, but it’s essential to stay calm and take the right steps […]
Ask Phil: Back Taxes & Real Estate. How Does it Work?
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses taxes and real estate, including buying, selling, and refinancing your home while owing taxes. Tax Liens Real estate transactions can quickly become tricky if you owe taxes and even more so if the IRS places a tax lien on your property. This means that if […]
What You Need to Know About Tax Exemptions
When doing taxes, you may come across the term “exempt.” You may see it when reading about tax-exempt workers or tax exemptions. While these terms affect how you are taxed, they do have different meanings. That said, it’s very important to know these differences to avoid trouble with the IRS. Here’s what you need to […]
Which Filing Status Should I Choose?
One of the first decisions you’ll face when filing your taxes is selecting the right filing status. Your choice can significantly impact the amount of tax you owe or the refund you receive. With a handful of options available, it’s essential to understand the nuances of each. In this article, we’ll break down the most […]
Ask Phil: Passports & Back Taxes. How Does it Work?
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses how owing back taxes can affect your travel plans, including renewing your passport or obtaining one for the first time. Here’s what you need to know about passports and taxes. You might be wondering what your passport has to do with taxes. The IRS works with […]