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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....

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...

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