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...
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Tax-exempt groups face reduced reporting requirements
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...
Solar industry tax incentives defined by IRS
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...
Potential benefits of legal representation during a tax audit
When Georgia residents or businesses receive a notice from the Internal Revenue Service or other tax agency, they likely reach out to their accountants for advice and help. Representation from an attorney could also be beneficial, especially in situations that involve...
New tax laws confusing taxpayers
Many Georgia residents are trying to figure out how the new tax laws will impact their future returns. Many believe that it will be easier to file their taxes going forward. While there will be fewer people who itemize, those who continue to do so will likely find...
Tips for avoiding IRS tax scams
The IRS has told people to be on alert for tax scams during the summer months. While the IRS does contact taxpayers in Georgia and around the country after the April federal tax filing deadline, they will do so by mail. Conversely, a scammer may leave a message on a...
Letters from the IRS aren’t all bad
For most people in Georgia and throughout the country, tax day is the only day in which they give much thought to their state and federal returns. However, those who receive a notice from the government may have to think about them for a little longer. The good news...
Cryptocurrency taxation environment changing
Georgia residents who are involved in the cryptocurrency market may find their tax filings more complex as the IRS has made efforts to tax crypto income. In Novemeber 2017, the IRS was victorious in a case against Coinbase, a cryptocurrency exchange. As a result of...
IRS publishes tax guidance on tips for volunteers
Employers in Georgia have a responsibility to pay payroll taxes for their employees. Tip boxes set up for volunteers, however, have created confusion about employee classification and employer tax obligations. The Internal Revenue Service has addressed this issue in...
Responding to an IRS notice
Georgia residents who receive a letter from the IRS should respond to it as quickly as possible. This is generally true whether a person has received an audit notice or a request for more information. In some cases, the IRS is writing to let a person know that he or...