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....
Atlanta Georgia Tax Law Blog
Common audit myths
Millions of Americans in Georgia and the rest of the United States are concerned about the risk of tax audits. However, there are several myths surrounding audits. While many filers may fear a sense of dread about being audited, only a fraction may actually be...
The potential consequences of not paying business taxes
The IRS could shut down companies in Georgia or any other state if they fail to pay their business taxes in a timely manner. However, there are many steps a business owner may be able to take to avoid such an outcome. For instance, it may be possible to enter into a...
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...
Worried about taxes? An installment or settlement could help
This year, you worked hard to provide for your family. As an independent contractor, you were proud that you were able to earn the kind of income you wanted in your own time and on your own schedule. When tax time came around, you were shocked by what you found you...
Tips for Georgia residents who may owe the government money
As of 2018, 14 million people owed money to the IRS, and individuals who fail to pay back taxes could face penalties such as jail time or passport restrictions. However, there are many steps that an individual can take to avoid some or all of those penalties. For...
How to pay off tax debts in a timely manner
Georgia residents who owe money to the IRS are encouraged to pay off their debts as quickly as possible. In addition to the principal balance owed, the government will likely charge penalties and interest until the past due amount is paid in full. One way to pay the...
What to know about federal tax liens
Georgia residents and others who owe money to the IRS may be subject to a tax lien. Liens can be attached to any type of property that you have such as a home, car or bank account. While a lien can have an impact on your ability to obtain credit or to refinance a...
Work in Georgia but live elsewhere? Beware of tax dilemmas
Even in our uncertain economic times, Atlanta remains a booming city in the southeast. As such, Atlanta lures many workers from other areas of the country. There are many individuals who are residents of other states who earn a significant amount of their wages here...
What to know about forming an LLC
If you are interested in starting a business in Georgia, it may be possible to use the limited liability company or LLC structure. In the event that you are the only owner of the company, it will be considered a disregarded entity for tax purposes. However, when an...
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