The world of investments can be intimidating, especially for young adults and college students. However, it is known that one of the best ways to build long-term wealth is to start investing early. Doing will allow your money to compound interest for […]
How Filing for an Extension Affects Your Taxes
With a massive increase in taxpayers filing for an extension, what does this mean for people who owe? How does the extension deadline work? Hosts CEO David King and Lead Tax Attorney Philip Hwang discuss these details and more in this week’s […]
Optima Newsletter – July: How the Economy Affects Your Taxes
How the Economy and Inflation Affect Your Taxes The IRS updates certain tax provisions annually to account for inflation, so your tax and investment plans should change accordingly. How to Avoid Having Your Tax Refund Garnished CEO David King and Lead Tax […]
How to Avoid Having Your Tax Refund Garnished
Worried about the IRS garnishing your refund? There are a few instances where this could happen. CEO David King and Lead Tax Attorney Phil Hwang discuss these circumstances and what you should do if you’re thinking your refund could be at risk […]
New Consequences of Payroll Tax Liability
The responsibility of payroll taxes falls on the shoulders of employers, although they come from employee paychecks. The federal government, Social Security and Medicare heavily rely on taxes from employee wages. IRS revenue officers are now tracking how unpaid payroll taxes were […]
New IRS Voice Bot Options Shortens Wait Time
Many taxpayers are hesitant about calling the IRS for several reasons, including the long wait time to speak with a representative. A phone call could take hours that you may not have to spare in your day to get answers to simple […]
How the Economy and Inflation Affect Your Taxes
With the rise of gas prices and the decline of the housing market, it’s no secret that the United States is experiencing inflation. Inflation doesn’t stop at gas and housing, though, as the state of the economy also impacts your taxes. The […]
Optima Newsletter – June 2022
Can the IRS Automatically Complete Tax Returns? A new study shows that the IRS may be able to complete nearly half of the nation’s tax returns automatically. The study proves that over 60 million pre-populated tax returns can be correctly auto filled […]
Tips for Choosing a Tax Professional
There is no shame in needing professional help during tax season. In fact, if you’re able to afford tax assistance or find community resources, you’ll have a better likelihood of accurate returns. Getting your return completed correctly the first time means fewer […]
What if I Can’t Pay My Installment Agreement?
CEO David King and Lead Tax Attorney Phil Hwang reconvene to continue the discussion on IRS installment agreements. In this episode of The Tax Show for People Who Owe, the hosts discuss solutions to unaffordable payment plans. What should you do if […]