Marginal Tax Rate vs. Effective Tax Rate: What’s The Difference?
Dec 16, 2025Key Takeaways Marginal tax rate vs effective tax rate measures different things: the marginal rate applies to your last dollar...
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What Is a Tax Settlement? Options, Process & Eligibility
Dec 14, 2025Key Takeaways: Tax Settlement Overview: Resolve IRS debt for less than the full amount through programs like Offer in Compromise,...
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Do You Have to Pay Taxes on Scholarships?
Dec 13, 2025Key Takeaways Scholarships and grants are generally tax-free when applied to qualified education expenses, including tuition, required fees, books, and course-related supplies or equipment. Non-qualified...
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IRS Interest Rates Hold Steady for Q1 2026
Dec 12, 2025The Internal Revenue Service (IRS) has announced that interest rates will remain unchanged for the first quarter of 2026, beginning...
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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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