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Corporations: work with an experienced attorney in IRS audits

For businesses, correct and timely filing of taxes is an important, ongoing task. Different businesses are, of course, taxed different ways, and it important for every business to establish policies and procedures for documenting tax-related matters and for correctly completing filings on time.

A third form of tax relief for erroneous joint returns: equitable relief

In recent posts, we’ve been looking at potential avenues of relief available to spouses who come under IRS investigation based on a discrepancy in a tax filing. As we’ve noted, innocent spouse relief and separation of liability are exceptions to the general rule that spouses are both fully liable for misstatements on joint tax returns, but these forms of relief are only available when certain conditions are met.

What is the difference between tax fraud and tax negligence, and why does it matter? P.3

We’ve been looking in recent posts at the difference between tax fraud and negligence, and emphasizing the importance of taxpayers working with an experienced attorney when the IRS decides to investigate reporting discrepancies.

What is the difference between tax fraud and tax negligence, and why does it matter? P.2

In our previous post, we began looking at the difference between tax fraud and tax negligence. As we noted, the difference is between being mistaken or careless, or perhaps reckless, and intentionally attempting to deceive the IRS in tax reporting.

What is the difference between tax fraud and tax negligence, and why does it matter?

For readers who do their own taxes, chances are most have made a mistake at some point that required correction. For some, the correction may have been made automatically by the IRS, while others may have gotten a call to clear things up.

Looking at the IRS appeals process and expedited resolution of tax controversies, P.1

Disputes with the Internal Revenue Service can become quite involved, especially when there is a lot of money in dispute. The IRS, like any bureaucracy, has various procedures it is required to follow when investigating taxpayers, and taxpayers have due process rights they need to be aware of so that their interests are given fair consideration.

Navigating statute of limitations extension agreements, P.2

We’ve been looking in recent posts at extension agreements between the IRS and taxpayers, which extend the deadline for IRS to assess additional tax and can allow taxpayers more time to provide documentation when they disagree with IRS audit findings.  

Navigating statute of limitations extension agreements

In recent posts, we’ve been looking briefly at the statute of limitations for the IRS to pursue additional payments in tax audits. As we noted last time, the IRS generally has three years to make tax assessments, does sometimes ask taxpayers to agree to an extension of the deadline for assessing taxes. Though taxpayers do not have to agree to such an extension, doing so can benefit them in some circumstances.

When art is your business

There are certain activities out there that some people do as a business while others do as a hobby. Art is among these activities. Professional artists or other individuals who are trying to make a business out of one of these activities can face scrutiny from the Internal Revenue Service over whether they are actually engaged in business or instead are just a hobbyist. This issue can be a major focus area when such an individual ends being audited by the IRS.

What is the statute of limitations for a tax audit? P.2

Previously, we looked briefly at the time limitations for the Georgia Department of Revenue to conduct an audit and assess penalties on a taxpayer. As we noted, three years is the general rule, though six years is the maximum amount of time the state has to assess additional tax liabilities on a taxpayer.

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The Peck Group, LC

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Located in Atlanta, The Peck Group, LC, represents clients nationwide. Regionally, we are committed to serving clients in Fulton County and throughout the state of Georgia.