Elyssa Carlos, Author at Optima Tax Relief https://optimataxrelief.com/blog/author/ecarlos/ Tax Relief & Resolution - Trust the Experts at Optima Tax Relief Wed, 25 Sep 2024 16:36:03 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://optimataxrelief.com/wp-content/uploads/2023/10/cropped-favicon_512-1-1-32x32.png Elyssa Carlos, Author at Optima Tax Relief https://optimataxrelief.com/blog/author/ecarlos/ 32 32 What if I Miss a Tax Deadline? IRS Penalties and Interest? https://optimataxrelief.com/blog/what-if-i-miss-a-tax-deadline-penalties-and-interest/ Tue, 24 Sep 2024 17:00:31 +0000 https://optimataxrelief.com/?p=21213 Filing your tax return late, or not filing at all, can result in IRS penalties and interest in addition to your unpaid tax burden. CEO David King and Lead Tax Attorney Philip Hwang provide helpful insight on important tax deadlines you should know about – and how you can resolve your tax liability with the […]

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]]> How are Partnerships Taxed?  https://optimataxrelief.com/blog/how-are-partnerships-taxed/ Mon, 23 Sep 2024 08:00:00 +0000 https://optimataxrelief.com/?p=21216 Partnerships are a popular business structure for entrepreneurs looking to combine resources, expertise, and share profits. However, the taxation of partnerships can be complex, as the partnership itself isn’t taxed like a corporation. Instead, partnerships are subject to “pass-through” taxation, where the profits and losses pass through to individual partners. This guide explores how partnerships […]

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]]> How Worker Classification Affects Taxes  https://optimataxrelief.com/blog/how-worker-classification-affects-taxes/ Thu, 19 Sep 2024 08:00:00 +0000 https://optimataxrelief.com/?p=21204 Understanding worker classification is crucial for both employers and workers, as it directly affects tax obligations and benefits. The way a worker is classified—whether as an employee or an independent contractor—determines who is responsible for various tax payments, what deductions are available, and how the worker must report income to the IRS. This article will […]

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]]> What To Do If You Receive IRS Notice CP71C  https://optimataxrelief.com/blog/what-to-do-if-you-receive-irs-notice-cp71c/ Wed, 18 Sep 2024 08:00:00 +0000 https://optimataxrelief.com/?p=21188 Receiving a notice from the IRS can be unsettling, and if you’ve received IRS Notice CP71C, it’s important to understand what it means and how to respond appropriately. This notice is a reminder from the IRS regarding an outstanding tax debt and offers information about what actions you can take to address the issue. Here’s […]

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]]> What is an Enrolled Agent?  https://optimataxrelief.com/blog/what-is-an-enrolled-agent/ Tue, 17 Sep 2024 08:00:00 +0000 https://optimataxrelief.com/?p=21185 We often hear that the tax professionals qualified to represent you before the IRS are CPAs, tax attorneys, and enrolled agents. While the first two roles are more well-known, many are still confused about what exactly an enrolled agent is. An Enrolled Agent (EA) is a federally authorized tax practitioner who has technical expertise in […]

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]]> What is the Gift Tax Exclusion?  https://optimataxrelief.com/blog/what-is-the-gift-tax-exclusion/ Mon, 16 Sep 2024 08:00:00 +0000 https://optimataxrelief.com/?p=21182 When it comes to transferring wealth, the gift tax exclusion is a valuable tool for individuals looking to pass on assets without incurring significant tax liabilities. The gift tax is a federal tax on the transfer of money or property from one person to another without receiving something of equal value in return. However, the […]

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]]> What You Need to Know About IRS Bank Levies  https://optimataxrelief.com/blog/what-you-need-to-know-about-irs-bank-levies/ Thu, 12 Sep 2024 08:00:00 +0000 https://optimataxrelief.com/?p=21175 When dealing with unpaid taxes, one of the most significant and immediate consequences can be an IRS bank levy. This action allows the IRS to legally seize funds directly from your bank account to satisfy outstanding tax debts. Understanding how an IRS bank levy works, how it can be avoided, and the steps to take […]

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]]> Optima Tax Relief Named to 2024 Forbes Advisor ‘Best Of’ List for Tax Relief Services https://optimataxrelief.com/blog/optima-tax-relief-named-to-2024-forbes-advisor-best-of-list-for-tax-relief-services/ Wed, 11 Sep 2024 08:00:00 +0000 https://optimataxrelief.com/?p=21160 The national tax firm was recognized for outstanding customer service, transparency, and industry leadership Optima Tax Relief is proud to announce that it has been named to the 2024 Forbes Advisor ‘Best Of’ list for Tax Relief Services. This prestigious recognition highlights Optima’s unwavering commitment to providing exceptional tax relief services to individuals and businesses […]

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]]> Can The IRS Really Take Everything I Own? https://optimataxrelief.com/blog/can-the-irs-really-take-everything-i-own/ Tue, 10 Sep 2024 08:00:00 +0000 https://optimataxrelief.com/?p=21143 The IRS can seize your assets if you owe back taxes and fail to resolve your tax debt. This includes bank accounts, wages, and even physical property like cars or homes. Optima Tax Relief CEO, David King, and Lead Tax Attorney, Philip Hwang, provide helpful insight on how you can resolve your tax burden and […]

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]]> Q3 2024 Estimated Taxes Are Due. Are You Prepared? https://optimataxrelief.com/blog/q3-2024-estimated-taxes-are-due-are-you-prepared/ Mon, 09 Sep 2024 08:00:00 +0000 https://optimataxrelief.com/?p=19884 As the third quarter of 2024 comes to a close, taxpayers must remember a crucial deadline: Q3 estimated taxes are due. Whether you’re self-employed, an investor, or someone with substantial income not subject to withholding, making timely estimated tax payments is essential to avoid penalties and stay on the good side of the IRS. Here’s […]

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