Optima Newsletter

The recently passed $1.9 trillion American Rescue Plan allows qualifying taxpayers who received unemployment during the 2020 tax year to have the first $10,200 of those benefits exempt from their federal income taxes.  Read more The IRS has Resumed its U.S. Passport Revocation Program The IRS recently announced that they are resuming their Passport Revocation […]

The newly passed $1.9 trillion Covid relief bill includes  $1,400 stimulus checks that will be sent out to qualifying Americans who have been financially struggling due to the ongoing pandemic. However, individuals who have unpaid debts may be at risk of having their stimulus checks garnished. Read more What is IRS Notice 1444 and will […]

Taxpayers can expect to receive a third stimulus check in addition to aid for individuals who are unemployed and facing eviction from their homes. The new Economic Rescue Package would also provide assistance to small businesses, states and local governments and will increase funding for vaccinations and testing. Read more First-Time Homebuyers may receive up […]

The IRS and the Treasury Department have already begun to distribute a second round of stimulus checks to individuals. For those who opted for direct deposit, they can expect to receive their money very soon if they haven’t already. Taxpayers who are receiving their economic impact payment in check form, can expect to receive it […]

The CARES Act has allowed millions of student loan borrowers to pause their student loans until January 31st. For the time being, loan payments, interest and collections on defaulted federal loans have been put on hold in order to provide financial relief for those who were financially affected by COVID-19. Read more here McConnell Announces […]

The ongoing pandemic has caused many Americans to suffer financially due to a loss of jobs and businesses shutting down. Proposals for another coronavirus relief package are currently ongoing and should include another stimulus check distributed out to taxpayers as well as providing assistance to businesses that are finding it difficult to stay open. Read […]