Optima Newsletter – September – Optima Tax Relief

Social Security Survivor Benefits and Taxes: What Widows Should Expect

When a spouse passes away, it can feel like your world has been turned upside down. Beyond the emotional weight of grief, there are also significant financial considerations to manage. Among the most critical are Social Security survivor benefits. For many widows, these benefits offer essential income support. However, understanding how they are taxed can be overwhelming. This article explains what survivor benefits are, how taxes may affect them, and what widows should expect at each stage of the process. 

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New IRS Scam Alert: Phony Notices with Dangerous Flash Drives

A new IRS scam is targeting taxpayers who owe. As the IRS moves away from paper checks, scammers are mailing notices with flash drives to trick you into giving up your sensitive information. CEO David King and Chief Tax Officer and Lead Tax Attorney Philip Hwang share practical tips on how to verify your notices and protect yourself from identity theft.

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What is the Child Tax Credit?

The Child Tax Credit (CTC) is one of the most valuable tax benefits available to families with children. In 2025, eligible parents can claim up to $2,220 per child under age 17, with a portion of the credit being refundable. Understanding the Child Tax Credit can help families maximize their tax savings, potentially reduce their tax bill to zero, and even secure a tax refund through the Additional Child Tax Credit (ACTC).

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What Happens If You Forget to Take Your Required Minimum Distributions (RMDs)?

Retirement accounts are designed to help your savings grow tax-deferred, giving you more flexibility and security in your later years. But even the most carefully planned accounts come with rules you need to follow to avoid unexpected costs. Missing certain required withdrawals can trigger significant penalties. This guide explains how Required Minimum Distributions (RMDs) work, how to calculate them, and what to do if you miss a withdrawal.

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