The IRS Fresh Start Program is a series of initiatives and policy changes launched in 2011 and expanded since, designed to assist individuals and businesses in resolving their federal tax liabilities. This collection of provisions makes it easier for taxpayers to manage and settle their tax debt, offering various options to pay off what they […]
What Parents of Children with Special Needs Can Deduct
Raising a child or dependent with special needs is both rewarding and challenging. Along with the emotional and time commitments, families often face substantial financial burdens. Specialized therapies, educational support, equipment, and medical care can cost thousands of dollars each year. Thankfully, there are special needs deductions, credits, and savings strategies designed to help parents […]
Two Big IRS Deadlines You Can’t Miss: Sept 15 & Oct 15 | Optima Tax Relief
Are you self-employed or earning income outside of a W-2? You may need to make estimated tax payments by September 15. And don’t forget about another important IRS deadline coming up: the October 15 extension deadline. Optima Tax Relief CEO David King and Chief Tax Officer & Lead Tax Attorney Philip Hwang break down two […]
How to Respond to IRS Letter 1058: The Final Warning Before a Levy
Key Takeaways: Receiving a notice from the IRS can be overwhelming, but some letters demand immediate attention. IRS Letter 1058, formally known as the Final Notice of Intent to Levy and Notice of Your Right to a Hearing, is one of the most urgent communications you can receive. It signals that the IRS is […]
Optima Newsletter – September
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 […]
The Best Bookkeeping Practices to Avoid Tax Trouble
Staying on top of your business finances is one of the smartest moves you can make as an entrepreneur. Bookkeeping isn’t just about tracking what comes in and goes out. It’s about protecting yourself from costly mistakes, IRS penalties, and unexpected tax bills. With the right system, you can save time, maximize deductions, and reduce […]
Optima Tax Relief Earns Eighth Consecutive Civic 50 Orange County Award
Celebrating Eight Years of Giving Back, Optima Continues to Lead in Volunteerism, Philanthropy and Community Impact Optima Tax Relief has once again been named a Civic 50 Orange County honoree, earning the recognition for the eighth consecutive year (the Civic 50 was not awarded in 2020). Since the program’s inception in 2017, Optima has been […]
2025 Q3 Estimated Tax Payments Are Due. Are You Prepared?
Estimated tax payments play a critical role in helping taxpayers meet their annual tax obligations. For many individuals, including the self-employed, retirees, and investors, these quarterly payments are the primary way to stay compliant with tax requirements. With 2025 Q3 payment deadline approaching, now is the time to ensure you’re prepared and avoid potential penalties. […]
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 […]
Can I Buy a House if I Owe Back Taxes?
Buying a home is one of the most significant financial decisions many people will make in their lifetime. It represents not only a place to live but also a long-term investment in your future. However, if you owe back taxes, the process can feel intimidating. The good news is that owing taxes does not automatically […]