Guiding You Through The Legal Process
In most cases, the IRS has three years to audit a tax return. This is true when a taxpayer in Georgia or anywhere else doesn't understate their income by 25 percent or more. If that does occur, the government now has six years from when a return is filed to examine...
Georgia residents may be aware that banks file what are known as Currency Transaction Reports with the Financial Crimes Enforcement Network when they receive deposits of more than $10,000. This requirement was put into place by the 1970 Currency and Foreign...
There may be as many as 9 million Americans who are living abroad. Those who have overseas bank accounts of $10,000 or more need to declare them to the IRS. This could also be the case for those living in Georgia or elsewhere in America who have money in overseas...
The Tax Cuts and Jobs Act (TCJA) will have an impact on those who are retired as well as those who are still working. Retirees in Georgia who receive pension or annuity checks must generally pay income taxes on those earnings. While many choose to have taxes withheld...
Georgia residents and others who owe a significant tax debt could be in danger of losing their passport. If the IRS determines that a person is trying to evade paying taxes or leave the country to avoid paying taxes, it will notify the State Department. At that point,...
When the Internal Revenue Service issues a summons to a taxpayer in Georgia or third-party performing services for taxpayers, the document represents a serious request for information. Failure to comply with a summons for information could prompt the federal...
If a person is audited by the IRS, he or she has rights that the agency must respect. For instance, Georgia residents have the right to have questions answered promptly and to expect employees to act professionally at all times. If a taxpayer does not receive good...
Taxpayers in Georgia and throughout the country could owe the IRS money in April 2019 according to the Government Accountability Office, which says that up to 30 million people have not had enough money withheld for taxes by their employers. This is because of changes...
Some tax-exempt organizations in Georgia and across the country may no longer need to comply with some reporting requirements under guidance released by the IRS and the Treasury Department in July. Every year, charitable organizations that have a tax exemption under...
Georgia investors who are involved in solar energy development can benefit from a guidance published by the Internal Revenue Service. It said that developers who invest at least 5 percent of the complete cost of a utility-level solar project can receive a 30 percent...
