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 […]
Tax Benefits of Donor-Advised Funds
Donor-Advised Funds (DAFs) have emerged as a powerful tool that not only allows philanthropists to make a positive impact but also offers substantial tax benefits. By understanding the advantages of DAFs, you can optimize your giving strategy for the causes you care about. Here’s an overview of the tax benefits of donor-advised funds. What are […]
Ask Phil: No More Surprise RO Visits
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses an important update regarding surprise RO visits. The IRS just announced that it is discontinuing home visits as an enforcement method. This means the days of intimidating revenue officers (ROs) knocking on your door are over. Instead, you will receive IRS Letter 725-B, which serves […]
How State Residency Affects Your Taxes
When it comes to taxes, the old adage “location, location, location” takes on a new meaning. State residency plays a significant role in determining the taxes you owe, as each state has its own tax laws, rates, and regulations. Things get even more tricky if you work and live in two different states. In this […]
IRS Ends Surprise Visits from Revenue Officers
The IRS recently announced it is ending its longstanding practice of surprise in-person visits to taxpayers. Optima CEO David King and Lead Tax Attorney Philip Hwang provide helpful insight on what communication you can expect to receive from a Revenue Officer moving forward and what you can do to resolve your tax burden with the […]