Loading Tax News…
Loading Tax News…Page 5 of 92
Taxes & Your SavingsPublished on Jul 13, 2026
Winning money from a slot machine, sports bet, lottery ticket, or online casino can be exciting. However, many people are surprised to learn that a gambling win may also create a tax obligation. Whether you won a few hundred dollars during a weekend […]
IRS CollectionsPublished on Jul 12, 2026
Receiving a notice from the IRS can be stressful, especially when the letter references possible collection actions. An IRS LT11 Notice is generally issued after the IRS has already sent several previous notices regarding an unpaid tax balance and has not received payment or a satisfactory response. Because it serves […]
Ask Phil Video SeriesPublished on Jul 12, 2026
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, breaks down IRS Form 9297, Summary of Taxpayer Contact, and what it means if you receive one in the mail. While this notice may sound intimidating, understanding what it is—and what […]
Taxes & Your SavingsPublished on Jul 11, 2026
You may notice several deductions on your paycheck, such as federal income tax, state taxes, and Social Security. The Federal Insurance Contributions Act (FICA) tax is a critical component of these deductions. While the FICA tax may appear complex at first, understanding […]
Taxes & Your SavingsPublished on Jul 9, 2026
Many taxpayers worry that falling behind on their taxes will immediately damage their credit. If you’re carrying an IRS balance or have received collection notices, you may be wondering whether your credit score has already taken a hit. The good news is that, in most cases, owing the […]
Press ReleasesPublished on Jul 8, 2026
Employees contributed essential goods including food, clothing, books, and footwear to local nonprofit organizations Optima Tax Relief has completed its annual donation drive, bringing together employees across the organization to support nonprofit partners serving communities throughout Los Angeles and Orange County. This year’s effort […]
Small BusinessesPublished on Jul 7, 2026
Self-employment offers flexibility and independence, but it also places full responsibility for taxes on the individual. Unlike traditional employees who have taxes automatically withheld from their paychecks, self-employed individuals must calculate their own tax liability, set aside money throughout the year, and […]
Tax and IRS NewsPublished on Jul 6, 2026
For most taxpayers, the statute of limitations provides a sense of closure after filing a return. Once a certain number of years pass, many assume the IRS can no longer revisit those filings. However, a recent federal appeals court decision — and the […]
Tax and IRS NewsPublished on Jul 2, 2026
The Internal Revenue Service (IRS) has announced that interest rates will increase for the third quarter of 2026, beginning July 1. These rates, which remain in effect through September 30, 2026, impact taxpayers with outstanding tax balances as well as those eligible […]
Optima NewsletterPublished on Jun 30, 2026
Does Owing the IRS Affect Your Credit Score? Understanding the relationship between tax liability and your credit can help you make informed decisions before your situation becomes more serious. Here’s what you need to know about whether owing the IRS affects your […]
Free consultation
Schedule a free consultation with our tax professionals and take the first step toward resolving your tax issues.
