The prospect of an audit conducted by the Internal Revenue Services can be an unnerving prospect from many Georgia residents. Sometimes, such actions may be conducted in by an official review of a taxpayer's document, and in other cases, the service might seek to...
Year: 2014
Some information about tax liens
If a Georgia taxpayer fails or neglects to pay a tax debt, the IRS may place a federal tax lien on the taxpayer's property. For the lien to be put into effect, the IRS must first assess a tax liability and make a demand for payment from the taxpayer. If the payment is...
Invented churches and tax consequences
Georgia churches may benefit from exemptions from federal income taxes, but a Mississippi case may be of concern as misuse of the church designation has landed a Christian physician in serious legal trouble with the IRS. The man was convicted on four felony counts of...
The possible consequences of not filing a tax return
Many Georgia residents are likely concerned about the fiscal state of the nation. Mounting deficits and rising government spending are legitimate causes of concern, but a September 2014 U.S. Tax Court decision may serve as a reminder that not filing a tax return as a...
What is an IRS levy?
An IRS levy is action taken by the federal government to seize property, bank accounts and wages, among other assets, legally in order to satisfy a taxpayer's tax liability. If the taxpayer has not paid or arranged with the IRS to pay a tax burden, the government...
What happens during an IRS audit?
A Georgia tax return may be selected for an audit based on a number of criteria. While some are selected randomly for examination, others are chosen based on the information provided in the associated documentation. In some cases, a return is selected for audit...
Avoiding a tax lien in Georgia
Comedian Chris Tucker recently settled a tax case with the IRS for more than $14 million. A representative for Tucker said that it was due to poor management and business practices. While mistakes may be made by anyone, a taxpayer generally has several chances to...
Health care tax credits could affect refunds when income rises
Atlanta taxpayers may be interested in some of the possible effects of IRS health care tax credits. In some cases, these credits may seriously affect a person's expected tax refund. Almost 7 million U.S. households are taking advantage of health care tax credits under...
Preparing for an IRS audit
For Georgia taxpayers, an IRS audit is often one of their greatest fears, after paying the taxes themselves. There are some tips that can hopefully help reduce the chance of an audit and the problems that come with it. Experts recommend that taxpayers prepare their...
Georgia taxpayers have rights
The Internal Revenue Service recently adopted a new Taxpayer Bill of Rights. The document groups the rights found in the Internal Revenue Code into 10 categories in an effort to make them easier to find and understand. First is the right to be informed, meaning that...