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Tax PlanningPublished on Feb 24, 2026
The tax legislation commonly referred to as the “Big Beautiful Bill,” signed into law on July 4, 2025, has generated major discussion among freelancers, gig workers, sole proprietors, and small business owners. For self-employed taxpayers, the most pressing question is simple: How will the Big Beautiful Bill […]
Tax Help VideosPublished on Feb 23, 2026
Wondering how long the IRS can collect from you and when your refund rights expire? CEO David King and Chief Tax Officer & Lead Tax Attorney Philip Hwang explain the 10-year Collection Statute Expiration Date (CSED), the Refund Statute Expiration Date (RSED), […]
Tax ReturnsPublished on Feb 22, 2026
Receiving a letter from the IRS with a balance due can immediately trigger anxiety. Many taxpayers begin searching for CP501 vs CP503 because they are unsure how serious their situation is or whether wage garnishment is around the corner. The reality is that both notices are […]
Ask Phil Video SeriesPublished on Feb 21, 2026
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, answers a common question: “Is the IRS really going to stop sending refund checks?” The short answer is partially yes. As of September 30, 2025, the IRS moved away from issuing paper […]
Ask Phil Video SeriesPublished on Feb 21, 2026
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, addresses a growing concern: Is the IRS Direct File program going away in 2026? The answer is yes—IRS Direct File, which allowed certain taxpayers to file for free, has officially been discontinued and is not available […]
Taxes & Your SavingsPublished on Feb 19, 2026
Understanding what are above the line deductions is essential for taxpayers who want to reduce their taxable income strategically. These deductions directly lower your income before your Adjusted Gross Income (AGI) is calculated, which can significantly impact your overall tax liability. Above-the-line deductions, formally called “adjustments to […]
Tax ReturnsPublished on Feb 18, 2026
Receiving a notice from the IRS can immediately raise concerns, especially when it proposes additional tax owed. If you have received IRS Notice CP2000, it is critical to understand what it means and how to handle it properly. This notice is not a formal audit and it is not […]
Tax ReturnsPublished on Feb 17, 2026
Filing taxes can be a complicated process, especially if you are unsure which documents you need to have on hand. Missing key paperwork can lead to delays, miscalculations, and even penalties if your tax return is incorrect. Whether you file your own […]
Tax PlanningPublished on Feb 16, 2026
Artificial intelligence is no longer a futuristic concept in taxation. It is already influencing how tax returns are reviewed, how audits are selected, and how noncompliance is detected. As governments and organizations handle growing volumes of financial data, AI in tax compliance has emerged as a […]
RetirementPublished on Feb 15, 2026
Roth Individual Retirement Accounts (IRAs) are popular investment vehicles that offer tax advantages for retirement savings. However, it’s crucial for account holders to be aware of Roth IRA penalties to make informed financial decisions. This article will explore the various penalties associated […]
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