Are Tips Taxed Under the Big Beautiful Bill? Optima Tax Relief
Dec 9, 2025Key Takeaways The Big Beautiful Bill creates a temporary federal income tax deduction for qualified tip income, effective January 1,...
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What Is the Alternative Minimum Tax (AMT)?
Dec 7, 2025As taxpayers, we are accustomed to navigating the complex web of tax laws and regulations. One aspect that often takes...
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Can You Use Your 401(k) to Pay Off Tax Debt Without Penalty? Optima Tax Relief
Dec 6, 2025Key Takeaways Accessing your 401(k) to pay IRS tax debt is possible, but early withdrawals typically trigger income taxes and...
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Filing Taxes When You Work Abroad for a U.S. Company Optima Tax Relief
Dec 5, 2025Key Takeaways U.S. citizens and resident aliens must file taxes on worldwide income, even when living abroad. Employment type, likeW-2 employee,...
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Does Bankruptcy Clear Tax Debt? Optima Tax Relief
Dec 4, 2025Key Takeaways Bankruptcy can clear older income tax debt only when strict rules are met, including the 3–2–240 timing requirements...
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What is IRS Form 1040?
Dec 3, 2025Key Takeaways IRS Form 1040 is the primary U.S. individual income tax return, used to report income, claim deductions and...
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Tax Deductions for Small Businesses
Dec 2, 2025Key Takeaways Small business tax deductions reduce taxable income and help owners lower their overall tax liability. Common deductions include...
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Why Was My Offer in Compromise Rejected? Optima Tax Relief
Nov 26, 2025Key Takeaways An Offer in Compromise allows taxpayers to settle IRS debt for less than they owe, but approval depends...
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How to File Back Taxes with Missing W-2s or 1099s
Nov 25, 2025Key Takeaways You can still file back taxes even with missing W-2s or 1099s; the IRS requires you to file using...
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What is Audit Reconsideration? | Optima Tax Relief
Nov 22, 2025Key Takeaways Audit reconsideration lets taxpayers challenge a completed IRS audit without going through Appeals or Tax Court, offering a...
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