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Tax PlanningPublished on Nov 30, 2025
The Foreign Earned Income Exclusion (FEIE) is a provision in the U.S. tax code that allows eligible taxpayers to exclude a portion of their income earned abroad from U.S. taxation. This exclusion is particularly beneficial for Americans working and living overseas, as […]
Ask Phil Video SeriesPublished on Nov 28, 2025
Today, Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, answers a common Reddit question: “Can I skip paying my taxes this year?” Technically, paying your taxes is a completely voluntary act. However, skipping your taxes is never a good idea. Penalty and Interest Risks The IRS can assess […]
Small BusinessesPublished on Nov 26, 2025
Small businesses are the backbone of any economy, and entrepreneurs often face numerous challenges in managing their finances. One area where small business owners can find relief is through strategic tax planning and taking advantage of available tax deductions. These deductions can significantly reduce […]
IRS CollectionsPublished on Nov 24, 2025
Facing tax debt can be overwhelming, and the IRS offers several programs to help taxpayers settle their liabilities. One of the most effective tools is an Offer in Compromise (OIC), a legal agreement that allows taxpayers to pay less than the full amount […]
IRS CollectionsPublished on Nov 23, 2025
Filing back taxes can already be stressful but doing it when you’re missing W-2s or 1099s adds another layer of complexity. The IRS still requires an accurate return even if documents are late, lost, or never provided. Fortunately, there is a clear process to follow. This guide explains what to […]
Tax PlanningPublished on Nov 22, 2025
When it comes to running a business, one of the key goals is to minimize expenses and maximize profits. One often overlooked avenue for achieving this is by taking advantage of tax deductions. Section 179 of the Internal Revenue Code offers a […]
IRS CollectionsPublished on Nov 21, 2025
The IRS plays a critical role in ensuring that taxpayers comply with U.S. tax laws. Within the IRS, various professionals are tasked with different responsibilities, including revenue officers and revenue agents. While these roles may sound similar, they have distinct functions and […]
Tax Relief SolutionsPublished on Nov 20, 2025
When the IRS completes an audit and assesses additional tax, penalties, or interest, many taxpayers feel trapped by the results, especially if they missed deadlines or didn’t have the documents needed during the audit. Fortunately, the IRS offers a remedy called audit reconsideration, which allows taxpayers to […]
IRS CollectionsPublished on Nov 19, 2025
Facing an IRS levy can feel overwhelming, especially when your wages, bank account, or other property is at risk. Because a levy involves actual seizure, not just a claim, it is one of the most serious actions the IRS can take. Fortunately, taxpayers have several options […]
Tax ReturnsPublished on Nov 18, 2025
Tax identity theft is one of the fastest-growing forms of fraud, and most victims don’t realize anything is wrong until the IRS rejects their tax return or sends a notice about income they never earned. Because scammers often strike early in the filing season, your […]
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