Filing taxes after a legal name change often creates confusion because it sits at the intersection of tax law, identity verification, and administrative timing. While a name change does not affect how much tax you owe, it can determine whether your return is accepted smoothly or flagged for review. The IRS relies on exact data matching with the Social Security Administration […]
Can Non-Citizens Qualify for IRS Tax Relief?
Many people assume that IRS tax relief is reserved for U.S. citizens, but that belief is one of the most common and costly misunderstandings in the tax system. In reality, non-citizen tax relief is firmly rooted in federal law. The IRS evaluates taxpayers based on income, filing status, and compliance history, not immigration status. As a result, millions […]
Cryptocurrency Taxes Explained: What You Need to Know
Cryptocurrency taxes are no longer a niche concern. As digital assets like Bitcoin, Ethereum, and stablecoins have become mainstream investments and payment tools, the IRS has made crypto tax compliance a priority. Taxpayers who ignore crypto activity, intentionally or not, can face penalties, audits, and interest. This guide provides a clear explanation of cryptocurrency taxes, covering […]
What is the Lifetime Learning Credit?
Higher education is one of the most significant investments individuals can make. However, the rising cost of tuition can be a financial burden. To help ease this burden, the IRS offers various tax credits for education-related expenses. One such credit is the Lifetime Learning Credit (LLC). The LLC provides taxpayers with an opportunity to reduce […]
What is the American Opportunity Credit?
The cost of higher education continues to rise, making it increasingly difficult for students and families to afford tuition and related expenses. Fortunately, the American Opportunity Credit (AOC) offers financial relief by providing a tax credit to offset some of these costs. This credit helps eligible students and their families reduce their tax liability while […]
What is Form 1099-B?
Form 1099-B is one of the most important tax documents for investors, yet it’s also one of the least understood. If you sold stocks, mutual funds, ETFs, bonds, options, or other securities during the year, your broker is required to report those transactions to the IRS using Form 1099-B. A copy is also sent to you, and the information […]
How to File a Joint Return When One Spouse Lives Overseas
If you are married abroad and ask yourself, “Can I file joint taxes?”, you are not alone. Cross-border marriages are increasingly common, yet the U.S. tax rules that apply to them remain complex and widely misunderstood. Many taxpayers assume that living in different countries automatically limits their filing options or eliminates U.S. tax obligations for the foreign spouse. In reality, the answer depends on tax residency, elections […]
Tax Benefits of Flexible Spending Accounts
Flexible Spending Accounts (FSAs) remain one of the most practical tax benefits available to employees. While Health Savings Accounts (HSAs) tend to receive more attention due to their investment potential and long-term advantages, FSAs continue to play a critical role in helping millions of workers lower their taxable income and manage out-of-pocket healthcare costs more efficiently. […]
Tax Differences Between HSAs and FSAs
Understanding the tax differences between Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) is critical for anyone trying to reduce healthcare costs and lower their tax bill. While both accounts are designed to help pay medical expenses with pre-tax dollars, the rules governing eligibility, taxation, and long-term benefits are significantly different. These differences can impact not just your […]
Ask Phil: What is a CSED?
Today, Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, answers a Reddit question about CSEDs: “If my CSED is 11/15/25, does it expire at the beginning or end of the month?” To get there, he breaks down what a Collection Statute Expiration Date (CSED) actually is and how the IRS calculates it. What the CSED Really Is […]