Taxes
What Is IRS Automated Collection System (ACS)?
Key Takeaways The IRS Automated Collection System (ACS) is the primary centralized program used to manage millions of delinquent tax...
Optima Tax Relief’s Philip Hwang Headlines Tax Notes Podcast Ahead of 2026 Filing Season
Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Philip Hwang, recently appeared on the Tax Notes podcast to...
Software Alone Isn’t Sales Tax Compliance: Why People Still Matter
Sales tax automation has become an essential part of compliance, but automation alone doesn’t guarantee accuracy. While technology can support certain tasks,...
Schedule C Mistakes That Trigger IRS Audits Optima Tax Relief
Key Takeaways Schedule C returns face higher audit risk because income and deductions are self-reported, making even small errors easy...
Are Incarcerated Individuals Required to File Taxes?
Key Takeaways Incarceration does not eliminate tax filing requirements. Whether incarcerated individuals must file taxes depends on income, filing status, and the...
Sales Tax Compliance Is More Than Filing Returns (Here’s What It Really Involves)
Sales tax compliance often gets reduced to one task: filing returns. In reality, it’s an ongoing, multi-step process that becomes more complex...
Chief Tax Officer and Lead Tax Attorney at Optima Tax Relief, Phil Hwang, Appointed National Chair of IRS Taxpayer Advocacy Panel
Optima Tax Relief announced today that Philip Hwang, its Chief Tax Officer and Lead Tax Attorney, has been appointed National...
Tax Benefits of Health Savings Accounts
Key Takeaways HSAs provide triple tax advantages with tax-deductible contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses. To...
What is the Safe Harbor Rule for Underpaying Estimated Tax?
Key Takeaways Safe harbor tax rules protect against IRS underpayment penalties, not balances owed, by meeting specific payment thresholds during...
2026 Tax Brackets and Deductions
Key Takeaways The 2026 tax brackets were increased for inflation, allowing taxpayers to earn more income before moving into higher...
Can I File Taxes If My Parents Claim Me?
Key Takeaways Yes, you can file taxes even if your parents claim you. Dependency status does not prevent you from...
Which Is Right for Your Business?
Sales tax compliance has become increasingly complex since the South Dakota v. Wayfair decision. With 46 states and Washington, D.C....
