Social Security Survivor Benefits and Taxes: What Widows Should Expect When a spouse passes away, it can feel like your world has been turned upside down. Beyond the emotional weight of grief, there are also significant financial considerations to manage. Among the […]
Optima Newsletter – August 2025
What You Need to Know About IRS Bank Levies When dealing with unpaid taxes, one of the most significant and immediate consequences can be an IRS bank levy. This powerful enforcement action allows the IRS to legally seize funds directly from your […]
Optima Newsletter – July 2025
How the IRS Calculates Interest on Tax Debt Understanding how the IRS calculates interest on tax debt can help you avoid financial surprises and make better decisions if you owe money to the government. Unlike penalties, IRS interest compounds daily and is […]
Optima Newsletter – June 2025
Back Taxes and Divorce: Who Pays What? Many divorcing couples are surprised to learn how complex and persistent IRS debt can be, especially when it’s tied to years of joint tax filings. The question of who pays what isn’t always as simple […]
Optima Newsletter – May 2025
Moving to a No Income-Tax State? Watch Out for These Hidden Tax Costs The promise of a state with no income tax can be incredibly appealing—especially for individuals coming from high-tax states like California, New York, or New Jersey. However, there may […]
What is the FDCPA?
Being in debt is a stressful circumstance that collectors can often intensify with unfair practices. Therefore, the Fair Debt Collection Practices Act (FDCPA) prohibits companies from using such practices to collect debts from you. Here’s an overview of the FDCPA, including what […]
IRS Form 8300 & What it Means For You
The main purpose of the IRS is to collect funds that are due and payable to the US Treasury Department. To that end, taxpayers are required to report their taxable income and pay taxes on that income. This system is known as […]
Optima Newsletter – October 2023
How Does Alimony Affect Your Taxes? Alimony, also known as spousal support or maintenance, is a regular payment made by one spouse to another after divorce or separation. While it’s essential to ensure financial stability for the receiving spouse, it’s equally important to […]
Don’t Fear IRS Form 1099-C
Perhaps the most feared and least understood document ever published by the IRS is Form 1099-C, Cancellation of Debt. Form 1099-C is sent to people who were so deep in debt, their creditors agreed to give them a break. They do this by […]
Optima Newsletter – September 2023
Zelle and Taxes: Will I Receive a 1099-K? Beginning in tax year 2023, you will receive a1099-K if you receive more than $600 in aggregate payments through a payment app or online marketplace. These can include Venmo, PayPal, Etsy, eBay, Cash App, […]