As we move into 2025, Georgia is implementing several significant changes to its tax laws. These changes are designed to provide tax relief and improve the state's tax system. Here's a detailed look at what you can expect. Lower Personal Income Tax Rate One of the...
Atlanta Georgia Tax Law Blog
3 common income tax mistakes small business owners make
Individuals with income from employment, investments and even gambling have to file income tax returns. Frequently, employed individuals qualify for income tax refunds because they paid more than they needed to toward their federal income tax obligations for the year....
Does IRS innocent spouse relief protect taxpayers in Georgia?
It is standard practice for spouses to file their taxes together. While some couples do file their annual income tax returns separately, joint filings often help people maximize their use of deductions and credits. Frequently, one spouse handles financial and tax...
Is bankruptcy the best solution to significant tax debts?
Filing an annual tax return allows someone to verify that they have paid a sufficient amount in income taxes. The Internal Revenue Service (IRS) reviews information provided by employers and financial institutions when verifying the tax returns submitted by...
Can an individual settle tax debts for a fraction of what they owe?
People like to claim that the government always gets what people owe it. That aphorism is a way of conveying how serious the Internal Revenue Service (IRS) is about enforcing tax law and collecting on valid tax debts. Not only can the IRS hold people accountable for...
What happens during an audit related to federal income taxes?
Once someone begins working or receiving passive income from investments, they have to start reporting their income to the government and paying income taxes. Filing an annual income tax return is necessary for anyone with significant income even if they are still a...
Can a foreign bank account lead to an audit or criminal charges?
Holding personal resources in an offshore account was once a top tax avoidance strategy. However, that has shifted in recent years. While some people may continue to hold resources in international bank accounts, they will typically derive far less protection from...
Why self-employed professionals are at risk of tax controversies
A tax controversy occurs when an individual taxpayer and an authority assessing taxes disagree about someone's responsibilities. For example, if the Internal Revenue Service (IRS) accuses someone of tax evasion by misrepresenting their income, that tax controversy...
3 groups at elevated risk of tax controversies and charges
Paying income taxes is part of life in the United States. Even those who only have part-time jobs are generally required to contribute to federal and state tax programs. Once a year, taxpayers need to file a tax return reporting their income and household...
What’s the difference between tax avoidance and tax evasion?
Nobody wants to pay more taxes than they have to pay – which is why both individual filers and businesses often employ various strategies to minimize their tax liabilities. There’s nothing really wrong with minimizing your taxes as long as you understand the key...
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