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Tax ReturnsPublished on Jan 18, 2026
Forgot to File Taxes for 3+ Years? Here’s What to Do Forgetting to file taxes for several years is far more common than most people are willing to admit. Changes in employment, self-employment income, financial hardship, divorce, illness, or simply not understanding filing […]
Ask Phil Video SeriesPublished on Jan 18, 2026
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, breaks down what you need to know to get ready for the 2026 tax season. The IRS has already started its “Get Ready” reminders, and being proactive now can help you […]
Tax Relief SolutionsPublished on Jan 15, 2026
The IRS requires most taxpayers to pay taxes throughout the year as income is earned, rather than waiting until a return is filed. When those payments fall short, the IRS may impose an underpayment penalty, even if the full tax bill is eventually […]
Tax PlanningPublished on Jan 14, 2026
As healthcare costs continue to rise, more taxpayers are looking for ways to manage medical expenses without undermining their long-term financial goals. One of the most effective yet often misunderstood tools available is the Health Savings Account (HSA). While HSAs are commonly […]
Tax and IRS NewsPublished on Jan 13, 2026
As the 2026 tax year approaches, taxpayers are beginning to plan for how inflation adjustments and legislative updates may affect their federal tax bills. Each year, the IRS updates tax brackets, standard deductions, and key thresholds to account for cost-of-living changes. In some years, […]
Tax Help VideosPublished on Jan 12, 2026
Tax season is almost here! Do you know what to expect this year? CEO David King and Chief Tax Officer & Lead Tax Attorney Philip Hwang cover the trends shaping the year ahead, including total filings, refunds, non-filer taxes, and IRS collections, […]
Tax PlanningPublished on Jan 11, 2026
Many taxpayers believe that being claimed as a dependent automatically prevents them from filing a tax return. This misunderstanding is especially common among college students, young adults living at home, and first-time filers whose parents still provide financial support. In reality, dependency status does […]
IRS CollectionsPublished on Jan 10, 2026
Key Takeaways The IRS cannot suspend driver’s licenses, professional licenses, or business licenses. These actions are controlled exclusively by state agencies under state law. The IRS’s only direct license-related enforcement power is passport certification, which applies when a taxpayer has a “seriously […]
Small BusinessesPublished on Jan 10, 2026
Depreciation is a common accounting method used by businesses to allocate the cost of their assets over time. To effectively manage their finances and make informed decisions, businesses employ depreciation schedules. In this article, we will explore what depreciation schedules are, why […]
Tax Relief SolutionsPublished on Jan 8, 2026
When financial pressure builds, most people instinctively focus on the debts that feel the most urgent. Credit card balances often trigger that reaction because of their high interest rates and visible impact on credit scores. Back taxes, on the other hand, can feel […]
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