Revenue Officers deal with the most advanced tax collection cases that the IRS has on file. If you owe a large sum of money to the IRS, you could potentially have a Revenue Officer assigned to you. Optima CEO David King and in-house Revenue Officer expert and Enrolled Agent, Rosie Steele, provide helpful tips on […]
IRS Audits: Tips for Staying on the IRS’s Good Side
The IRS has the authority to audit any tax return. Optima CEO David King and Lead Tax Attorney Philip Hwang explain what an audit is and help taxpayers understand what they can do to stay on the right side of the IRS. (One important tip: The IRS sends audit notices through the U.S. Postal Service. […]
Received a Math Notice from the IRS? Here’s what to do.
The IRS sent out more than 5 million math error notices to individuals, many of them having to do with the economic impact payment issued in 2020 and 2021. Optima CEO David King and Lead Tax Attorney Philip Hwang help explain what this notice means and provide guidance on what to do if one is […]
Tax Evasion, Fraud & the Statute of Limitations
Tax evasion and fraud is not just a problem for white-collar crime criminals. Filing your taxes, particularly if you have considerable assets or run your own business, can be terribly complex. This means that the line between an aggressive – but legal – tax planning strategy and fraud is thinner than you might think. Perfectly […]
Don’t get Taxed twice when making Non-Deductible IRA Contributions
Individuals that earned income throughout the tax year have the option to make non-deductible (after-tax) contributions to an IRA and benefit from tax-deferred growth. One of the most common risks that taxpayers take is paying additional taxes when withdrawing their money from their retirement accounts. Before making after-tax contributions to a traditional IRA, it is […]
What’s the difference between a Tax Lien and Levy?
If you’ve received a notice from the IRS, you could be at risk of having IRS action taken against you. Some of the most common tactics that are used by the IRS is filing a tax lien or levying an individual’s assets. Optima CEO David King and Lead Tax Attorney Philip Hwang help taxpayers understand the […]
Can you Stop a Tax Lien?
Individuals who fail to file their tax returns or pay off their tax liability with the IRS are at risk of having a federal tax lien filed against them. Optima CEO David King and Lead Tax Attorney Philip Hwang discuss options a taxpayer has in order to mitigate the impact of a tax lien being filed […]
What is a Federal Tax Lien?
Owing a tax balance with the IRS could mean that a federal tax lien has been filed against you and any assets or property that you have. Optima CEO David King and Lead Tax Attorney Philip Hwang discuss how a federal tax lien can directly impact an individual and what they need to do in […]
How long do you have to Claim your Tax Refund?
The IRS reported more than a billion dollars’ worth of unclaimed tax refunds last tax season. Optima CEO David King and Lead Tax Attorney Philip Hwang remind taxpayers that they have up to three years to claim their tax refunds with the IRS and review how they can receive the assets that are owed to […]
How long does the IRS have to collect on your unpaid tax liability?
The IRS can collect on any outstanding tax liabilities for up to ten years from the filing date – and in some cases even longer. Join Optima CEO David King and Lead Tax Attorney Philip Hwang as they review what you can expect if you find yourself with aging unpaid IRS tax debt and offer […]