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IRS CollectionsPublished on Jul 16, 2024
Entering into an installment agreement with the IRS can provide taxpayers with a manageable way to pay off their tax liability over time. However, defaulting on an IRS installment agreement can lead to serious consequences. Here, we’ll review the potential repercussions and […]
Tax Help VideosPublished on Jul 15, 2024
Did you make a mistake on your tax return? Whether it’s to correct errors, claim overlooked deductions, or address changes in filing status, it may be best to amend your tax return. CEO David King and Lead Tax Attorney Philip Hwang provide […]
Taxes & Your SavingsPublished on Jul 14, 2024
The Work Opportunity Tax Credit (WOTC) is a valuable federal tax credit available to employers who hire individuals from certain targeted groups that have consistently faced significant barriers to employment. Established as part of the Small Business Job Protection Act of 1996, […]
Ask Phil Video SeriesPublished on Jul 11, 2024
Today, Optima Tax Relief Lead Tax Attorney, Phil, talks about tax identity theft, breaking down his top tips on how to avoid being a scam victim. Get an IP PIN An Identity Protection PIN (IP PIN) from the IRS is a six-digit […]
Tax ReturnsPublished on Jul 9, 2024
Taxes are difficult to understand as they are. Adding in the complexities of tax forms can add to the confusion, especially when it comes to reporting rental income and expenses. Schedule E is an essential form for property owners and investors who […]
Taxes & Your SavingsPublished on Jul 8, 2024
Understanding the differences between gross income and net income is essential for managing personal finances and comprehending tax obligations. Both terms are instrumental when it comes to earnings. However, they do serve different purposes and are used in various financial contexts. This […]
IRS CollectionsPublished on Jul 2, 2024
Dealing with the IRS can be tough, and disputes with them can add significant stress to taxpayers. However, the IRS Appeals process offers a structured pathway for resolving disagreements without taking it to court. Here are the essentials of IRS Appeals, including […]
Optima NewsletterPublished on Jun 30, 2024
How IRS Installment Agreements Work When most people first examine tax relief options, they might have their hopes set on an offer in compromise – or their tax debt settled for less than what they owe. Unfortunately, OICs are more often denied […]
Tax and IRS NewsPublished on Jun 30, 2024
As we officially move into the third quarter of 2024, the IRS has announced that interest rates will remain unchanged. This decision continues the trend of stability in interest rates, providing predictability for taxpayers and financial planners alike. Here’s a breakdown of […]
Tax ReturnsPublished on Jun 26, 2024
As the landscape of health care and financial planning evolves, it becomes increasingly crucial to understand the various tax forms that can impact both. One such form is the IRS Form 1099-LTC. This article aims to provide a comprehensive overview of what […]
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