The state of the economy can be detrimental to your IRS or state tax liability. What exactly happens to your tax debt during inflationary periods? CEO David King and Lead Tax Attorney Phillip Hwang discuss the difference in interest rates, deadlines, and what to do if you find yourself in this circumstance.
Many taxpayers rely on Social Security to get by after retiring. Unfortunately, taxpayers with outstanding tax liabilities may be at risk of a levy on their retirement funds. How much can the IRS take and what should you do? CEO David King and Lead Tax Attorney Phillip Hwang discuss everything you need to know about Social Security garnishments.
Cryptocurrency is becoming more common as a form of payment for products and services. As a small business owner, do you understand the tax implications? How does the IRS view crypto? Lead Tax Attorney Philip Hwang and CEO David King discuss the gray areas of cryptocurrency and tax obligations.
Have you ever used PayPal or Venmo? These third-party payment apps have gained the attention of the IRS. Many Americans use these apps casually for group outings, while others have been using them for their side-hustle transactions. Filing requirements have drastically changed in 2021, now requiring taxpayers to report income of $600 or more using one of these apps. Philip Hwang, Lead Tax Attorney, and Optima CEO, David King provide useful tips so that you can understand whether or not you owe, and when you should file your side-hustle income.
Are you preparing to sell a property, but you have a tax liability? Liens can be a hindrance to real estate transactions, but they don’t have to be. Optima’s Lead Tax Attorney Philip Hwang shares some vital tips with CEO David King on how to deal with your lien before selling. The Tax Show hosts cover everything from how to find out if a lien has been filed, to how to withdraw a lien. Give yourself plenty of time to sort out your lien with a tax professional before refinancing or selling your home.
The IRS Offer in Compromise is the most sought-after tax debt resolution. It’s a settlement offer that can significantly reduce your tax liability. How do you know if you qualify? The IRS just announced new guidelines for its Fresh Start Program, which means you’re more likely to qualify now than ever before! CEO David King, and Lead Tax Attorney Philip Hwang discuss everything you need to know about the new guidelines.
