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IRS CollectionsPublished on Jun 3, 2022
Owing the IRS can be a scary and confusing time, especially if you don’t know what to expect. The IRS has protocols to collect past due balances. This article will review the consequences of owing taxes. Interest and Penalties The IRS adds […]
Taxes & Your SavingsPublished on Jun 1, 2022
While taxes are inevitable, you want to make sure that you’re not paying more than you have to. You can legally reduce your taxes by using strategies that you may not be aware of. Here are some tax reduction strategies from Optima […]
Tax PlanningPublished on May 26, 2022
There are instances where income will not be taxed, whether or not you report it during tax season. Understanding which earnings are taxable versus non-taxable could save you a lot of time and trouble when you file your tax returns. Non-taxable earnings […]
Tax Help VideosPublished on May 17, 2022
Paying an IRS liability in full isn’t always an option. This is why the IRS offers installment agreements, or payment plans, to help taxpayers pay off their debt. For this week’s episode, CEO David King discusses installment agreement options with Lead Tax […]
Optima NewsletterPublished on May 8, 2022
IRS Unclaimed Tax Refunds The IRS announced that it has $1.5 billion in tax refunds from 2018 and gave taxpayers until the end of the season to claim their money. If you missed out on claiming your refund, there are steps […]
Tax Help VideosPublished on May 3, 2022
Penalty abatements provide relief from IRS tax penalties. How do you know if you’re eligible? If you are looking to resolve your tax burden with the IRS, you may qualify for a penalty abatement. Optima CEO David King and Lead Tax Attorney […]
Tax ReturnsPublished on Apr 29, 2022
The IRS shared a reminder for tax-exempt organizations that have a filing deadline of May 16, 2022. Filing is mandatory, so if you need more time, you should request an extension as soon as possible. Which Form should tax-exempt organizations file? Tax-exempt […]
Optima NewsletterPublished on Apr 28, 2022
IRS Sends Large Tax Bills for 2021 Unemployment Benefits While some were able to return to work in 2021, approximately 25 million people received unemployment benefits and didn’t withhold taxes. The IRS is now looking to collect back taxes for the $325 […]
Tax ReturnsPublished on Apr 26, 2022
The end of tax season was officially April 18, 2022, which means the IRS is diving into enforcements and catching up on notices. What should you do, and what should you expect if you missed the filing deadline? One-Time Penalty Relief For […]
Tax and IRS NewsPublished on Apr 22, 2022
There were about 1.5 million taxpayers that didn’t file a return in 2018. The IRS announced that it has $1.5 billion in tax refunds from 2018 and gave taxpayers until the end of the season to claim their money. If you missed […]
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