Georgia residents and other taxpayers didn't have to disclose whether they had health coverage when filing their returns in 2017. However, the IRS says that it will not process electronically filed returns that don't address health care status in 2018. If a filer...
Month: October 2017
Forest Whitaker loses in his lawsuit against the IRS
Georgians who have trouble paying their taxes might want to take heed of actor Forest Whitaker's case. The actor sued the IRS because it refused to grant him an installment plan and instead demanded that he pay all of the taxes that he owed in a lump sum payment....
The IRS view on severance pay
Some workers receive severance pay from their employer. It may be as the result of being terminated, being laid off or leaving a position. Regardless of why a person received such pay, the IRS views it as wage income subject to tax. Therefore, that payment may be...
Using trusts to get the most from business assets
Georgia residents might like to know about legitimate ways to minimize or eliminate gift and estate taxes. Those who own a successful business may wish to freeze the value of a company to avoid taxes due to future appreciation of the company. This strategy to reduce...
Think tax and liability consequences in a business startup
If you are thinking of starting a new business, what form will it take? There are several choices ranging from a sole proprietorship to an S corporation, and much will depend on the kind of product or service you plan to offer. When considering the kind of entity that...