Prince fans in Georgia may have heard that his sister has stated that her brother left no will. Settling his estate may raise a number of issues including one known as "right to publicity." This is an issue that also arose with Michael Jackson's estate. "Right of...
Month: April 2016
How likely are you to be audited by the IRS?
The tax deadline has come and gone. Most of us have filed our taxes and crossed the daunting task off of our to-do list. But for some, the worry about being audited by Uncle Sam looms over our head. Some argue that such worry is futile. Here's why. First, there are...
The likelihood of an IRS audit
Georgia residents who have already filed or who will be filing their tax returns may wonder whether they are likely to get audited. The odds are not high. In 2015, the IRS audited less than 1 percent of tax payers, and the number is unlikely to increase in 2016....
Repercussions for small business owners who don’t file taxes
This year's looming tax deadline is slowly approaching. Despite the extra couple of days provided this year, many people, particularly small business owners, will struggle to get all of their receipts and paperwork together to file on time. Some will just not file at...
Top 10 states for IRS tax audits
Georgia residents may be happy to know that they do not live in one of the top 10 states for federal tax audits. According to a study by TaxAudit.com, taxpayers who live in Vermont are more likely to be audited by the Internal Revenue Service than people in other...
Reducing estate taxes
The current federal estate tax exemption is $5.45 million per person, and after that, any additional part of a person's estate may be taxed. While that may seem like an enormous amount of money, many states also have estate taxes that have much lower taxation...