Small businesses in Georgia and throughout the country can be subject to income, payroll and other types of taxes. For instance, a corporate entity may pay a tax rate of up to 21% on their profits for the year. Companies that are structured as pass-through entities...
Atlanta Georgia Tax Law Blog
Organization is key for tax management
Everyone who earns an income in the United States needs to pay tax. Avoiding taxes is not only illegal, but it can lead to serious consequences, from severe penalties to jail time. While tax evasion is illegal, there are ways that you can use the law in your favor. By...
What to know about claiming a child as a dependent
Parents in Georgia and throughout the country who share custody of their children may be unsure as to who gets to claim them as a dependent. While taxpayers aren't allowed to obtain exemptions for their dependents until at least 2025, dependent tax credits are still...
What to know about IRS tax audits
If the IRS believes that there is something wrong with your tax return, it may select it for further examination. In some cases, an audit is conducted entirely by mail. However, it may be necessary to go to an IRS office in Georgia to meet with government agents 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...
Can you be liable for cryptocurrency reporting errors?
Although bitcoin and other cryptocurrencies are gaining popularity throughout the world, some Georgia residents who deal in crypto could be confused about how to file their taxes. Also, CPAs may not be as knowledgeable on the latest IRS rules concerning them,...
Beware of scams: Don’t give personal information to ‘the IRS’
The IRS already has all the information it needs to collect tax debts and issue stimulus payments. It has no need to contact you for additional info -- and if it were to contact you, it would do so by mail. Don’t be fooled if someone claiming to be the IRS contacts...
IRS audit timelines
As a general rule, the IRS has three years to audit a Georgia resident's tax return. However, the IRS has six years to audit a tax return if an individual failed to report at least 25% of his or her income. The government also has six years to audit a return if a...
Common audit triggers to be aware of
As a Georgia resident, you must generally file a tax return by April 15 each year. In some cases, the IRS may decide to audit your return if it detects errors or evidence that you have attempted to mislead the government. Let's take a look at some of the most common...
Yes, you have to pay taxes on your international bank accounts
When it comes to the obligation to pay federal income tax to the Internal Revenue Service (IRS), offshore bank accounts are a common source of confusion among those who must pay federal taxes in the United States. Quite a few people still think of offshore accounts as...
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