Income Taxes

In Georgia and across the United States, taxpayers may want to pay attention to two new Internal Revenue Service (IRS) tax guidelines. Watch for a new checkbox located on Form 1040. This checkbox will inquire whether the taxpayer received, sold, sent, exchanged or...

Georgia taxpayers will have to fill out a slightly longer 1040 form when they file their 2019 taxes, according to the Internal Revenue Service. The agency has posted a draft of the new form, which updates the postcard-sized return that debuted in 2018, on its website....

Georgia residents who are 65 and older may able to make use of Form 1040-SR, which is designed to be easier to read. It is also designed to focus more on retirement income and making older taxpayers aware of potential tax benefits. A draft version of the form was...

Georgia taxpayers will need to get ready for the new W-4 form that the IRS is rolling out for next year. The government agency says that the goal of the new form is to make sure that taxpayers owe as little as possible at the end of they year. Ideally, neither the...

Taxpayers in Georgia and anywhere else who don't pay their federal income taxes on time could be subject to IRS collection activities. The first step in the process is to send a letter detailing how much the government thinks is owed. Typically, the balance will...

Benjamin Franklin famously remarked, “…nothing can be said to be certain, except death and taxes.” While death is often a serious subject, you cannot take your tax obligations lightly. If you mess up your tax filing, you could find yourself in significant financial or...

College students who participate in a paid internship in Georgia or any other state may owe federal taxes on their earnings. This could be true even if participation in the internship is required by the school. In some cases, individuals are paid as independent...

Tax time can be particularly challenging for people in Georgia who are dealing with the burden of tax debt. People may find themselves with tax bills that they are unable to pay, and they may not be sure how they can find a way out of the situation. As 2018 opened,...

Georgia residents may need to get familiar with a series of new forms when they complete their tax returns this year. This may apply to those who are self-employed and made more than $400 from such activity. If so, they will need to pay self-employment tax and report...

The federal tax overhaul that went into law in 2017 has exposed many taxpayers in Georgia and around the country to unexpected income tax bills. According to the Government Accounting Office, roughly 3 million more people than last year will have failed to withhold...