Tag: Optima

Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Philip Hwang, recently appeared on the Tax Notes podcast to ...

Key Takeaways   Schedule C returns face higher audit risk because income and deductions are self-reported, making even small errors easy ...

Optima Tax Relief announced today that Philip Hwang, its Chief Tax Officer and Lead Tax Attorney, has been appointed National ...

Key Takeaways  Form 1099-B reports proceeds from the sale or exchange of investment property, including stocks, mutual funds, ETFs, bonds, options, and ...

Key Takeaways  The Big Beautiful Bill creates a temporary federal income tax deduction for qualified tip income, effective January 1, ...

Key Takeaways   Accessing your 401(k) to pay IRS tax debt is possible, but early withdrawals typically trigger income taxes and ...

Key Takeaways  U.S. citizens and resident aliens must file taxes on worldwide income, even when living abroad.  Employment type, likeW-2 employee, ...

Key Takeaways  Bankruptcy can clear older income tax debt only when strict rules are met, including the 3–2–240 timing requirements ...

Key Takeaways  An Offer in Compromise allows taxpayers to settle IRS debt for less than they owe, but approval depends ...

Key Takeaways  Audit reconsideration lets taxpayers challenge a completed IRS audit without going through Appeals or Tax Court, offering a ...