The word "audit" strikes a fear in many taxpayers in Georgia and throughout the country, but the chances of an audit remain low at .04% out of all tax returns. Sometimes, the IRS checks for accuracy and fraud if the organization suspects it. However, one error on a...
IRS
How business owners can negotiate with the IRS
If a business in Georgia owes back taxes to the IRS, it has several options to resolve the situation. Throughout the process, business owners should stay in touch with the IRS and be honest about their situation. If they try to avoid the IRS, they might find...
IRS tax audit mistakes to avoid
Many taxpayers in Georgia will experience an IRS audit in their lifetime. An audit means the IRS has rejected the return for a reason, such as suspicions about income or errors. An audit notice naturally causes panic, but taxpayers shouldn't be so hasty as to make...
The IRS offers advice for people yet to file their tax returns
If a person is required to file an income tax return, the government expects the filing to be on time. In 2020, extenuating circumstances led to an extension of the traditional filing date of April 15. The new due date became July 15, but not everyone filed. The...
How to resolve Internal Revenue Service debt
If you have not managed your income in a way that allows for taxes, or if your company has recently suffered from significant losses, you may be in a position where you cannot pay the Internal Revenue Service (IRS) the taxes that you owe. This can be a worrying...
IRS regulations address foreign income deductions
High-income earners often seek to reduce their tax bills. As long as Georgia taxpayers do so legally, there is nothing wrong with reducing tax obligations. The Internal Revenue Code provides many legitimate ways to reduce taxes, such as making charitable donations or...
When to file taxes on foreign accounts
Tax payers in Georgia and throughout the country are required by the IRS to pay taxes on foreign assets, or they could face stiff fines. The foreign accounts must reach a certain threshold before they need to be reported on tax returns. Foreign accounts may include...
Do not delay filing taxes if they are already late
In 2020, taxpayers in Georgia received a three-month extension to file their income taxes with the IRS. If you owe the IRS money, the flexibility that you have gotten does not give you any forbearance from penalties and interest if you are late with your tax return....
The IRS will be conducting more audits
If you are a high-income taxpayer in Georgia, you need to be aware that the IRS has plans to audit more returns from upper tax brackets. While most of the audits do occur on tax returns of the wealthy, the IRS has not performed nearly as many audits as it did in...
What to know about IRS installment plans
Individuals in Georgia who can't afford to pay an income tax bill on time are often eligible for an installment plan. Taxpayers may be able to choose how much they want to pay each month or allow the IRS to determine their minimum monthly payment. In most cases, an...
Our services are confidential and are protected under the attorney-client privilege as allowed by law.