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IRS CollectionsPublished on Mar 16, 2026
If you owe back taxes, one of the most important, but often misunderstood concepts is the collection statute expiration date (CSED). This date determines how long the IRS has to legally collect your tax debt. While many taxpayers focus on how much they owe, far fewer understand how long the IRS can pursue that […]
Taxes & Your SavingsPublished on Mar 16, 2026
A Trump Account is a new type of individual retirement account (IRA) established for eligible children under age 18, designed to allow funds to grow tax-deferred until the child reaches adulthood. The account is owned by the child but managed by a parent or […]
IRS CollectionsPublished on Mar 13, 2026
Key Takeaways Dealing with an IRS levy can be incredibly stressful, especially when it creates a significant financial hardship. A levy allows the IRS to legally seize your assets, such as bank accounts, wages, and other property, to satisfy a tax debt. […]
Ask Phil Video SeriesPublished on Mar 13, 2026
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, shares his predictions and insights for the upcoming 2026 tax season. From refunds to IRS service levels, here’s what taxpayers can expect. Hot Take #1: Tax Refunds Will refunds go up or down […]
Tax PlanningPublished on Mar 12, 2026
Key Takeaways The “widow’s penalty” refers to the financial disadvantages that widows often face after the death of their partners. Losing a spouse is an emotionally overwhelming experience, and unfortunately, for many widows, the challenges extend beyond the realm of grief. This […]
Tax Relief SolutionsPublished on Mar 10, 2026
Millions of Americans struggle with tax debt each year. Rising living costs, unexpected financial setbacks, and simple filing mistakes can all lead to a balance owed to the IRS. For taxpayers facing mounting penalties and interest, the good news is that the […]
Tax Help VideosPublished on Mar 9, 2026
Wondering what you need to know for this tax season? CEO David King and Chief Tax Officer & Lead Tax Attorney Philip Hwang explain why filing isn’t voluntary, how to avoid a Substitute for Return, and how to request an extension to […]
Small BusinessesPublished on Mar 9, 2026
Choosing the right business structure can have a significant impact on how much you pay in taxes each year. For many entrepreneurs, freelancers, and small business owners, the decision often comes down to S Corp vs LLC. Both structures provide liability protection and pass-through taxation, […]
Taxes & Your SavingsPublished on Mar 7, 2026
The Protecting Americans from Tax Hikes (PATH) Act of 2015 was a significant piece of tax legislation designed to provide tax relief, prevent fraud, and promote economic growth. Enacted on December 18, 2015, the law made several temporary tax provisions permanent while […]
Tax ReturnsPublished on Mar 7, 2026
One of the most significant obligations U.S. taxpayers have is to file an annual federal tax return. However, life gets busy, and sometimes individuals either forget or deliberately neglect to file. When this happens, the IRS doesn’t simply forget about it. Instead, […]
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