Most Recent Manage Money News

Optima Tax Relief’s Philip Hwang Headlines Tax Notes Podcast Ahead of 2026 Filing Season 

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...

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What Is IRS Automated Collection System (ACS)? 

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...

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Are Incarcerated Individuals Required to File Taxes?

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...

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What Happens If You Ignore IRS Tax Debt? Timelines, Penalties, and Next Steps 

What Happens If You Ignore IRS Tax Debt? Timelines, Penalties, and Next Steps 

Key Takeaways  Ignoring IRS tax debt does not stop collection efforts; it allows penalties, interest, and enforcement actions to escalate...

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Forgot to File Taxes for 3+ Years? Here’s What to Do 

Forgot to File Taxes for 3+ Years? Here’s What to Do 

Key Takeaways   Unfiled taxes can be fixed, but delay increases costs and risk. The IRS typically treats voluntary compliance more...

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Chief Tax Officer and Lead Tax Attorney at Optima Tax Relief, Phil Hwang, Appointed National Chair of IRS Taxpayer Advocacy Panel

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...

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What is the Safe Harbor Rule for Underpaying Estimated Tax? 

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...

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Tax Benefits of Health Savings Accounts

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...

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2026 Tax Brackets and Deductions

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...

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Can I File Taxes If My Parents Claim Me?

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...

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