The Peck Group, LC
  • Comprehensive Tax Law Representation Since 1995

    We handle every aspect of tax law: preparing tax returns, representing clients during audits, resolving IRS and state tax controversies, and creating tax planning strategies for the future.

  • Problems With The IRS Or State Tax

    Our attorneys are committed to providing efficient and effective tax solutions for individuals and businesses in Georgia and nationwide.

  • Planning For The Future

    Our lawyers help individuals and businesses with all aspects of estate and tax planning. We help our clients use proactive strategies to minimize tax implications in the future

  • Changing The Balance Of Power

    Does it feel like the government has all the power? Taxpayers have rights, too. We use our knowledge of tax law to shift the balance of power and ensure that your rights are protected.

  • Tax Solutions … And Peace Of Mind

Atlanta Georgia Tax Law Blog

Why extension filers shouldn’t miss the October 15 deadline

If you requested an extension to file your 2017 income taxes, your deadline is approaching. Tax payers who requested an extension have until October 15 to file their income tax return for last year.

How to request an extension

Does a tax-exempt nonprofit still have to file a tax return?

In a previous post, we discussed how a nonprofit can apply for tax-exempt status. One common misconception that many nonprofit owners have that, once they achieve this status, they don’t have to take any further action. This misunderstanding can land nonprofits in real trouble.

In today’s article, we discuss the requirements for nonprofits to maintain their tax-exempt status.

How to get tax-exempt status for your nonprofit

If you’re starting up a nonprofit, you probably have questions. You may have heard that charitable organizations can receive tax-exempt status. However, this designation is not automatic. The IRS has fixed regulations on which organizations are eligible and what they must do to qualify.

In today’s post, we map out the steps necessary to making your nonprofit tax-exempt:

IRS issues new procedure for switching from S corp to C corp

Last year, the Tax Cuts and Jobs Act made dramatic revisions the rates of business taxes. Notably, it cut the top tax rate for C corporations from 35 percent to a mere 21 percent, and gave S corporations a 20 percent tax deduction. This change has prompted some companies currently structured as S corporations to become C corporations instead.

Recently, the Internal Revenue Service issued Revenue Procedure 2018-44, a procedure addressing how former S corps that transitioned to C corps should change their method of accounting. In this post, we will examine the IRS’s new procedures so that businesses can modify their accounting methods accordingly.

If you have dependents, check your paycheck withholding ASAP.

In last week’s post, we discussed how the Tax Cuts and Jobs Act (TCJA) can drastically change the impact of taxpayers’ paycheck withholding. This week, we take a closer look at how this new legislation impacts taxpayers with dependents.

Anytime you start a new job, you designate how much you want your employer to withhold from your paycheck—and be put towards your annual income tax. This decision can mean the different between a sizeable refund or an alarming bill come Tax Day.

Why you may want to reassess your paycheck withholding

Anytime you start a new job, you submit a W-4 form to your employer. This form details the number of allowances you elect, which in turn impacts how much money is taken out of each paycheck to go towards your income taxes. As we discussed in a previous post, if you claim more allowances, you’ll receive more money each pay day—but you could end up with a high tax bill on Tax Day. If you claim fewer allowances, your paycheck will be a bit smaller—but you’ll be more likely to get a refund on Tax Day.

For many of us, the number of allowances we claim has remained constant for many years. We may not give it much thought. However, the Tax Cuts and Jobs Act (TCJA)—which was passed at the end of 2017—has changed the tax landscape dramatically. This law could affect many aspects of your tax situation, including:

Making sense of the tax paperwork when starting a new job

Your first day at a new job is often a flurry of activity. You’re going through orientation, you’re taking diligent notes and you’re trying to remember every new thing you learn.

Then your employer hands you a W-4 form to complete. Your eyes start to glaze over. Making sense of taxes has never been your strong suit. How do allowances work again?

Care options for children: Do not forget nanny taxes

In the Atlanta metro as well as across the state, long wait lists at the best day care locations and Montessori preschools are normal. When expecting there is time to get on wait lists, but if relocating quality child care may be more difficult than finding a new home.

The price of quality care is also approaching or surpassing college tuition. For more families with two or three small children, a nanny or nanny share is becoming an alternative. Before hiring a nanny, however, learn more about your tax obligation as an employer.

Back taxes leading to passport denials

In 2015, a provision tucked into the Fixing America’s Surface Transportation Act (FAST Act) added another IRS enforcement tool. The IRS was authorized to work with the State Department to deny or revoke U.S. passports.

Who is affected? American taxpayers who owe more than $51,000 in back taxes (penalties and interest are included in this inflation-adjusted figure). When did the IRS start sending names? Over the summer, the IRS began the process of notifying the State Department of the more than 300,000 taxpayers who fall into the category. 

Georgia, Online Sales And The Wayfair Decision

Ever since the South Dakota vs. Wayfair decision, state governments are debating and legislating about how to comply with the ruling. While some states have solidified their positions on the issue, other state governing bodies, such as Georgia’s, have a taxation plan in place but hint that changes could be on the way in 2019.

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The Peck Group, LC
5855 Sandy Springs Circle N.E., Suite 190
Atlanta, GA 30328

Phone: 770-884-6914
Fax: 770-933-2369
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