Receiving a notice from the IRS can immediately raise concerns, especially when it proposes additional tax owed. If you have received IRS Notice CP2000, it is critical to understand what it means and how to handle it properly. This notice is not a formal audit and it is not […]
How AI Is Changing Tax Compliance and Enforcement
Artificial intelligence is no longer a futuristic concept in taxation. It is already influencing how tax returns are reviewed, how audits are selected, and how noncompliance is detected. As governments and organizations handle growing volumes of financial data, AI in tax compliance has emerged as a […]
Can You Deduct IVF or Fertility Treatments?
Fertility treatments like in vitro fertilization (IVF) can be life-changing for couples and individuals struggling with infertility, but they often come with substantial financial costs. Understanding whether these expenses are deductible, the IRS rules, the requirement for medical necessity, and the latest 2026 updates […]
Itemized Deductions vs. Standard Deductions: Which Saves More?
Choosing between itemized deductions vs standard deduction is one of the most important decisions taxpayers make each year. With recent changes from the One Big Beautiful Bill (OBBB), including enhanced standard deductions, a new senior deduction, and expanded SALT limits, it’s more important than […]
Trump Account 2026: How to Open, Contribute, and Grow Your Child’s Savings – Optima Tax Relief
Wondering how to help your children start building wealth from day one? CEO David King and Chief Tax Officer & Lead Tax Attorney Philip Hwang explain the new Trump Account, a tax-advantaged savings account for children under 18. Discover how the accounts […]
Taxes on Inherited Accounts
Inheriting assets can be a bittersweet experience. While it often signifies the passing of a loved one, it can also provide financial stability and opportunities for the future. However, along with the emotional and financial aspects of inheritance come tax implications, especially regarding inherited accounts. Understanding taxes […]
Ask Phil: Is All My Debt Included When I File For Bankruptcy?
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Phil, answers another tax question from Reddit. This time, the topic is bankruptcy and how tax debt is treated during the process. The taxpayer in this scenario has a $25,000 tax debt […]
IRS Phishing Emails: Real Examples and Warning Signs
IRS phishing emails remain one of the most widespread threats to taxpayers, and they continue to grow more sophisticated each year. As more tax services move online, scammers have found new ways to impersonate the Internal Revenue Service and trick people into sharing personal […]
Wage Garnishment on Student Loans: How it Works and How to Stop It
Student loan wage garnishment is one of the most serious consequences a borrower can face when federal student loans fall into default. Unlike most other consumer debts, the federal government has powerful collection tools that can reach directly into your paycheck without first suing […]
2026 IRS Mileage Rates
The 2026 IRS mileage rates have been announced, and they play an important role in how taxpayers calculate vehicle-related deductions. If you drive for business, medical care, charitable work, or qualified moving purposes, these rates can directly affect how much you save at tax […]