If you’re facing financial hard times, your retirement funds begin to look like a good source of much-needed cash. In cases of dire emergency, you may indeed be able to make withdrawals from those funds before you reach retirement age. However, the potential short-term and long-term consequences can be severe. Nonetheless, if you must make […]
New Fresh Start Guidelines Announced. Do you qualify?
The IRS Offer in Compromise is the most sought-after tax debt resolution. It’s a settlement offer that can significantly reduce your tax liability. How do you know if you qualify? The IRS just announced new guidelines for its Fresh Start Program, which means you’re more likely to qualify now than ever before! CEO David King, […]
7 Year-End Tax Tips
As we approach 2022, Optima wants to wish you a happy holiday season and remind you to take advantage of this special time of year. The end of the year is the perfect time to organize your tax records and prepare to file! Optima CEO David King prompts thought-provoking topics as Lead Tax Attorney Philip […]
IRS Enforcement is Back! What You Need to Know
On today’s episode of The Tax Show for People Who Owe, CEO David King highlights the difficulties of dealing with IRS Enforcement; otherwise known as Collections. Optima’s Lead Tax Attorney, Philip Hwang, shares his insight and offers “Tax Pro Tips” ranging from IRS authority, to what you can expect when you’re subjected to IRS collection […]
BBB Torch Award for Ethics 2021
Optima Tax Relief is proud to announce that we have earned our second BBB Torch Award! This award puts the spotlight on businesses with exceptional dedication to integrity and ethical business practices. The Torch Award is just the latest in the series of awards Optima has earned this year, including the Orange County Civic 50, […]
Optima Newsletter- November 2021
Child tax credit has been a reliable source of additional income for families struggling through the pandemic. While there were plans to continue the monthly checks for at least another five years, it seems the program will be coming to an end in about one year. Read More Revenue Officers and Small Businesses Many small […]
Revenue Officers and Small Businesses
Many small business owners are at risk of being assigned a Revenue Officer (RO). If a small business withholds taxes from their employees but fails to hand it over to the IRS, the IRS can assign an RO, garnish bank accounts and wages, seize property and real estate, and even show up at your place […]
Vehicle Mileage Tax
Senate recently passed President Joe Biden’s infrastructure bill, which includes a pilot program for vehicle mileage tax. This tax would charge drivers based on how many miles they drive in a year. The vehicle mileage fee will likely bring in revenue for transportation and future infrastructure projects. Why is vehicle mileage tax is being enforced? […]
How to Deal with a Revenue Officer
Optima in-house Revenue Officer expert and Enrolled Agent Rosie Steele returns to The Tax Show to continue the RO discussion with CEO David King. You may have been assigned one, or you might be expecting to hear from one if you owe a large sum to the IRS. What is the role of an RO, […]
Optima Newsletter – October 2021
The IRS recently signed contracts with three private-sector collection agencies, taking effect Thursday, Sept. 23, 2021. Taxpayers that are behind on payments toward their debts may be contacted by one of the new agencies. Here’s what you need to know: Read More What Is An IRS Revenue Officer? Revenue Officers deal with the most advanced […]