Did you know that foreign income is still taxed by the United States? Millions of Americans who earn money abroad or plan to earn money abroad should be aware of their tax obligations. The United States is currently one of the only countries in the world that taxes based on citizenship, and not residency. However, […]
Article from April 2023
3 Things to Watch Out for After the Tax Deadline
Owing taxes is more expensive than ever before. Filing an accurate return on time is the best way to avoid penalties, interest, and IRS collections. CEO David King and Lead Tax Attorney Philip Hwang list three things to watch out for after the tax deadline. Contact Us Today for a Free Consultation
Optima Newsletter – April 2023
What is the IRS Collection Statute of Limitations? They say that death and taxes are the only two certainties in life. However, taxes are only collectible for so long. Did you know there is a statute of limitations for IRS collections? Here’s an overview of how the IRS statute of limitations works. Read More How […]
Top Risks of Owing the IRS
If you have an unpaid tax bill, you know the stress that comes with owing the IRS. The IRS is a powerful agency with the ability to collect what is owed to them using severe methods. These can include garnishing your wages or levying your bank accounts. With a 10-year statute of limitations, the agency […]
How to Fill Out a W-4
Many taxpayers are reporting smaller refunds this year. While many cases can be credited to tax credits returning to pre-pandemic levels, several others could be because of an outdated Form W-4. Unbeknownst to some, a W-4 needs to be updated whenever certain life changes occur. If it‘s outdated, you may not have enough tax withheld […]