It is very common for married couples to only have one spouse work on the tax return. Maybe you've always been bad with numbers or have a hard time focusing on complicated paperwork. Perhaps you are a stay-at-home spouse and only earn $200 a year, so it just makes...
Atlanta Georgia Tax Law Blog
How much will you pay in interest and penalties on tax debts?
Finding out that the Internal Revenue Service (IRS) believes you underpaid your taxes is certainly a frightening experience. After all, you can count on the government to get their money no matter what. In severe cases, those accused of failing to meet their tax...
Is it illegal not to file your taxes?
You know that it’s illegal not to pay the taxes that you owe. Everyone is bound to pay their taxes, whether they are employees or business owners. Anyone with an income is going to need to pay some amount of tax on it at the end of the year. You also know that it’s...
You may not have to pay your whole tax bill
If you're facing a massive outstanding tax bill, it's understandable that you're worried. It doesn't feel financially viable for you to pay off all of the money that the IRS says that you owe. Now, there could be other parts to this equation. Maybe you believe you...
Tax mistakes are not tax fraud
As you do your taxes, it's natural to worry about making a mistake. You may be concerned that it's going to look like you're trying to commit fraud. For instance, what if you forget to list some of your income? Is the government going to believe that you're trying to...
NFT sales can lead to substantial income tax obligations
At first, e-commerce largely involved businesses selling and shipping physical items either to individual consumers or other companies. However, the shift to fully-digital transactions has begun. Some people and businesses traffic in digital currencies, like...
What is the likelihood of facing an audit?
If you file taxes in the United States, something that you should be aware of is the risk of facing an audit. Audits by the Internal Revenue Service are largely random, which can make it hard to know if you’ll be at risk or not. You may be surprised to know that the...
What are your tax obligations as an American with foreign assets?
There are various reasons why United States citizens place their funds in offshore bank accounts. One may be to qualify for secondary citizenship by investment. Another may be because the target country serves as a tax shelter. Americans often purchase homes abroad....
The QBI deduction and why it may be here to stay
Small to mid-size business owners in Georgia and across the country are breathing a sigh of relief as recent proposed changes to tax laws may avoid a key perk for pass-through entity income, at least for now. With the current administration’s 2022 fiscal budget...
What are estimated taxes?
For most Georgia residents, every pay period comes with a reminder that the federal government is taxing their wages through withholdings. When an individual looks at their pay stub, they may see that a portion of their income or wages has been deducted from their...
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