Does Owing the IRS Affect Your Credit Score?
Understanding the relationship between tax liability and your credit can help you make informed decisions before your situation becomes more serious. Here’s what you need to know about whether owing the IRS affects your credit score and what steps you can take if you’re struggling with unpaid taxes.
Ask Phil: Itemized Deductions vs. Standard Deduction — Which Should You Choose in 2026?
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, breaks down one of the most common tax questions taxpayers face: Should you itemize your deductions or take the standard deduction? The answer depends on your individual financial situation and whether your eligible expenses exceed the standard deduction amount.
IRS Interest Rates Rise for Q3 2026: What Taxpayers Need to Know
The Internal Revenue Service (IRS) has announced that interest rates will increase for the third quarter of 2026, beginning July 1. These rates, which remain in effect through September 30, 2026, impact taxpayers with outstanding tax balances as well as those eligible to receive interest on delayed refunds.
What Is an IRS LT11 Notice?
Receiving a notice from the IRS can be stressful, especially when the letter references possible collection actions. An IRS LT11 Notice is generally issued after the IRS has already sent several previous notices regarding an unpaid tax balance and has not received payment or a satisfactory response.