An IRS audit is a review of a taxpayer’s return to determine whether the reported information is accurate and complies with tax laws. Receiving an audit notice does not necessarily mean a taxpayer made a mistake or will owe additional taxes. The […]
IRS Tax Compliance Report What It Shows and Why It Matters
Wondering what a Tax Compliance Report is and what it reveals about your tax history? CEO David King and Chief Tax Officer & Lead Tax Attorney Philip Hwang explain how Tax Compliance Reports confirm whether you’ve filed returns and paid taxes on […]
Why Is Receiving a Large Tax Refund a Bad Thing?
Each year, millions of Americans eagerly await their tax refunds. For many, it feels like a financial windfall—a check from the government that brings temporary relief, fuels major purchases, or even funds vacations. But is receiving a large tax refund a bad […]
What is the American Opportunity Credit (AOTC)?
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 Tax Credit (AOTC) — also known as the American Opportunity Credit — offers financial relief by […]
2026 IRS Mileage Rates
The 2026 IRS mileage rates have been revised during the year, making them especially important for taxpayers who track vehicle expenses. The rates play an important role in how taxpayers calculate vehicle-related deductions. If you drive for business, medical care, charitable work, […]
2026 Q3 Estimated Tax Payments are Due. Are You Prepared?
The third estimated tax payment of 2026 is due September 15, 2026. For taxpayers who earn income without enough federal tax withheld throughout the year, this deadline is an important opportunity to reduce the risk of an unexpected tax bill and an […]
Optima Newsletter-September
What Tax Bracket Am I In? Complete 2026 Guide Understanding your 2026 tax bracket can help you estimate your federal income tax, evaluate the effect of a raise or bonus, and make informed decisions about deductions and other tax-planning strategies. This guide […]