Optima NewsletterAuthored by Deanna Aldayyat, Content and PR Specialist
IRS Interest Rates Remain the Same for Q4 2026: What Taxpayers Need to Know
The Internal Revenue Service (IRS) announced on August 21, 2026, that interest rates will remain unchanged for the fourth quarter of 2026, beginning October 1. These rates, which remain in effect through December 31, 2026, apply to taxpayers with outstanding tax balances as well as those eligible to receive interest on certain delayed refunds.
Ask Phil: Does IRS Form 9297 Mean? The Revenue Officer Letter You Shouldn’t Ignore
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, breaks down IRS Form 9297, Summary of Taxpayer Contact, and what it means if you receive one in the mail. While it generally indicates that an IRS revenue officer has been assigned to your case, understanding what the notice means and responding promptly can help you avoid more serious collection actions.
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Tax Reporting for Crypto and Digital Assets
Cryptocurrency and other digital assets have become increasingly common, but their tax treatment can be more complicated than simply reporting how much money was deposited into or withdrawn from a crypto account. For federal tax purposes, the IRS generally treats digital assets as property, which means transactions involving cryptocurrency can create capital gains, capital losses, or ordinary income depending on how the asset was acquired and used.
Tax Relief for Seniors: IRS Programs You Should Know
Retirement can bring significant changes to your finances, but turning 65 does not automatically mean you stop paying taxes or that the IRS will forgive tax debt. However, tax relief for seniors may be available through tax deductions, credits, free tax preparation programs, penalty relief, payment plans, and other IRS programs