One of the most severe actions the IRS can take against you is issuing a wage levy. A wage levy allows the IRS to seize a portion of your paycheck directly from your employer, leaving you with a reduced income until your debt is paid off. Understanding how wage levies work, the process involved, and […]
Ask Phil: Can Optima Really Help Me?
Today, Optima Tax Relief Lead Tax Attorney, Phil, discusses how Optima Tax Relief can help struggling taxpayers who owe. If you’re a taxpayer who has tax debt and has explored tax relief options, odds are you’ve come across Optima Tax Relief’s services. Perhaps you heard a commercial on the radio or read client testimonials, […]
When Does the IRS Pay Interest on Tax Refunds?
The IRS typically processes tax refunds quickly, but in some cases, there can be delays. When these delays occur, taxpayers might wonder if they’re entitled to interest on their refund. The IRS does pay interest on tax refunds under specific circumstances. However, the rules governing when and how much interest is paid can be complex. […]
Can the IRS Take My Car?
When it comes to unpaid taxes, the IRS has powerful tools at its disposal to collect the debt. Among these tools is the ability to seize your assets, including your car. But under what circumstances can the IRS actually take your vehicle, and what can you do to protect yourself? Here’s what you need to […]
Tax Implications of Class Action Settlements
Did you receive a settlement for a class action or personal injury lawsuit? If you have, you could face major tax implications with the IRS. CEO David King and Lead Tax Attorney Philip Hwang provide helpful tips on how to avoid any tax time surprises and how you can navigate dealing with the IRS if […]
The Difference Between an IRS Revenue Officer and a Revenue Agent
The IRS plays a critical role in ensuring that taxpayers comply with U.S. tax laws. Within the IRS, various professionals are tasked with different responsibilities, including revenue officers and revenue agents. While these roles may sound similar, they have distinct functions and purposes within the IRS. Understanding the difference between an IRS revenue officer and […]
Ask Phil: Can I Haggle with the IRS?
Today, Optima Tax Relief Lead Tax Attorney, Phil, answers a common question: “Can I haggle with the IRS?” While negotiating with the IRS can be complex, taxpayers have options and rights that provide some level of negotiating power. The extent of a taxpayer’s negotiating power largely depends on their financial situation, the type of tax […]
Tax Guide for Native Americans
Navigating taxes can be challenging for anyone, and Native Americans often face unique circumstances that require careful consideration. This guide aims to provide a comprehensive overview of the tax responsibilities and benefits specific to Native Americans in the United States. Understanding Sovereignty and Taxation A fundamental aspect of taxation for Native Americans is the concept […]
What Assets Can the IRS Seize?
It can be difficult and frustrating to deal with tax debt. You might be concerned about whether the IRS has the right to seize your assets if you owe taxes to them and haven’t taken steps to address the debt. Understanding which assets the IRS can seize is crucial for taxpayers, particularly those facing financial […]
My IRS Levy is Causing a Hardship. Now What?
Dealing with an IRS levy can be incredibly stressful, especially when it creates a significant financial hardship. A levy allows the IRS to legally seize your assets, such as bank accounts, wages, and other property, to satisfy a tax debt. If this action is making it difficult to cover basic living expenses, it’s essential to […]