If any IRS employee or officer in Georgia or any other state gives bad written advice to a taxpayer and the IRS charges the taxpayer with a penalty as a result, the taxpayer may file for relief of the penalty during a specific time period. This can result in a credit...
Year: 2014
Understanding the impact of an IRS tax levy on your finances
Georgia residents who are dealing with IRS issues may be interested in some information on our firm's tax law practice and how it may be able to provide help. Without effective representation, actions by the IRS may seriously affect your finances. When your taxes have...
IRS tax audit answers for Georgia residents
The Internal Revenue Service may generally audit a return no more than six years after it was first filed. In most cases, the IRS will try to audit all returns no more than two years after they are filed. While the statute of limitations is three years in most cases,...
Additional tax assessment notices in Georgia
After a person files a Georgia state income tax return, the Georgia Department of Revenue may review the return and make an initial determination that the filer owes additional tax. Generally, the first time a person will learn of the additional tax assessment is when...
How is a return selected for an audit?
The IRS elects to audit tax returns based on a number of factors. Selection for audit is not arbitrary; rather the return is first evaluated in a lengthy and thorough process. Then a final determination is made as to whether or not the return will go through the full...
Avoiding or preparing for audits
For Georgia businesses, a tax audit can be a difficult experience. However, there are some ways that a company might try to avoid attracting undue attention from tax authorities. For example, if the company is doing its own taxes, it might be beneficial to use...
Voters decide to freeze income tax rate for top earners
During the recent November election, Georgia voters decided to freeze the income tax rate for the highest earners in the state. The decision to make the constitutional amendment will mean that the top income tax rate will remain at its current level of 6 percent, and...
Income taxes in Georgia
Taxpayers in Georgia may benefit from learning more about how to ensure that income taxes are properly filed and accounted for. In accordance with federal regulations, some taxpayers in Georgia may be required to file their returns electronically. Georgia residents...
Michael Jackson’s estate valuations
Georgia fans of Michael Jackson's music may be interested to learn that on Oct. 20, the Internal Revenue Service admitted to making an error in its valuation of the late musicians estate. The report stated that the mistake actually increased the estate tax by...
Personal income taxes may offset federal obligation
The Code of Georgia sets forth the structure of personal income taxes levied by the state in Title 48, Chapter 7. Not all states charge income taxes, and the ones that do not typically fund public necessities like schools and police departments with higher consumer...