Optima Newsletter

What is Injured Spouse Relief? When couples file joint tax returns, they often expect to share both the benefits and the burdens of taxation equally. However, situations can arise where one spouse’s debts or obligations lead to the entire tax refund being withheld to cover them. We’ve covered innocent spouse relief before. However, there is another type […]

Hoping for the Child Tax Credit? Don’t Wait to File The U.S. House of Representatives has approved a bill that has the potential to grant families significant tax benefits. The aim is to strengthen tax breaks, offering substantial financial support to American households and leading to significant savings. Among the many items addressed in the […]

What is Innocent Spouse Relief? Tax matters can be complex and often present challenges for married couples who file joint tax returns. In certain situations, one spouse may find themselves unfairly penalized for the actions of their partner, leading to financial difficulties and strained relationships. To address this issue, the IRS offers a form of […]

How Long Can the IRS Audit My Taxes? The worst thing that can happen for most taxpayers is being told by the IRS that they are being audited. What most people don’t realize is that there is a timeframe for how long the IRS can audit an individual. This timeframe is known as the audit […]