When you owe the IRS and don’t have the funds to pay in full, the stress can feel overwhelming. Fortunately, the IRS offers tax relief programs designed to help taxpayers manage their debt without immediate financial ruin. The two most common options are the IRS Installment Agreement and Currently Not Collectible (CNC) status. While both […]
Am I Responsible for My Spouse’s Back Taxes?
When you marry, you often share many aspects of your life with your spouse: your home, your finances, and perhaps even your dreams. However, what happens when it comes to tax liabilities? Specifically, are you responsible for your spouse’s back taxes? This question can cause significant stress and confusion. To navigate this issue, it is […]
How Tax Relief Works
Owing the IRS can be one of the most stressful situations a taxpayer can face. Recent data shows that American taxpayers owed over $316 billion in back taxes, penalties, and interest as of the end of 2022. Much of this debt can be attributed to late filing, mathematical errors, and underreported income. Whatever the reason […]
What is a Tax Settlement?
Tax settlements play a vital role in managing financial obligations by offering individuals and businesses a way to resolve outstanding tax debts with the IRS. This article explores the tax settlement process, detailing the available options, key implications, and important factors to consider. Understanding Tax Settlements Tax settlements, also known as tax resolutions, refer to […]
What is the IRS Fresh Start Program?
A new year could mean a financial fresh start. The IRS Fresh Start Program, launched in 2011, is a collection of relief tools, from installment agreements, Offers in Compromise (OIC), lien withdrawal, penalty relief, and more. It was designed to help taxpayers and small businesses regain control of their finances. Rather than being a single procedure, […]
What Does Optima Tax Relief Actually Do?
Dealing with tax debt can be an overwhelming experience, especially when facing IRS collection actions such as wage garnishments, tax liens, or bank levies. Optima Tax Relief provides professional assistance to individuals struggling with tax issues, helping them find the best possible solutions to resolve their tax debt. With a team of experienced tax professionals, […]