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Loading Tax News…Optima NewsletterPublished on Apr 1, 2024
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 […]
Optima NewsletterPublished on Mar 15, 2024
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 […]
Optima NewsletterPublished on Mar 1, 2024
Can the IRS Take My Pension? The IRS is responsible for collecting taxes to fund government operations. While the IRS has various tools at its disposal to ensure tax compliance, there are limitations on what assets it can seize. One question that […]
Optima NewsletterPublished on Feb 1, 2024
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 […]
Optima NewsletterPublished on Jan 1, 2024
2024 IRS Tax Inflation Adjustments As the calendar turns to 2024, the IRS has announced several inflation adjustments that will impact the tax code. These adjustments are crucial for taxpayers to comprehend, as they can influence exemptions, credits, and exclusions, shaping the […]
Optima NewsletterPublished on Dec 1, 2023
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 […]
Optima NewsletterPublished on Oct 19, 2023
How Does Alimony Affect Your Taxes? Alimony, also known as spousal support or maintenance, is a regular payment made by one spouse to another after divorce or separation. While it’s essential to ensure financial stability for the receiving spouse, it’s equally important to […]
Optima NewsletterPublished on Sep 20, 2023
Zelle and Taxes: Will I Receive a 1099-K? Beginning in tax year 2023, you will receive a1099-K if you receive more than $600 in aggregate payments through a payment app or online marketplace. These can include Venmo, PayPal, Etsy, eBay, Cash App, […]
Optima NewsletterPublished on Aug 17, 2023
Tax Tips for Seniors and Retirees As the golden years approach, seniors and retirees face a new set of financial challenges, with tax planning becoming increasingly important. Understanding the tax implications of retirement income sources, investments, and deductions can significantly impact a […]
Optima NewsletterPublished on Jul 20, 2023
Am I Responsible for My Spouse’s Back Taxes? Marriage is viewed as a union of two individuals, joining both their lives and responsibilities. As financial obligations and responsibilities intertwine, questions arise about whether one spouse is accountable for the other’s past tax […]
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