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...
Income Taxes
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...
3 myths about tax refunds debunked
If you are among the many Atlanta area residents who filed your taxes before the deadline, you might be eagerly waiting for your refund to show up in your account. The IRS has a standard time-frame for how long it takes them to process most tax returns. Though they...
How to file a tax extension
Georgia residents who can't file their tax return by the April 17 deadline are entitled to ask for an additional six months to do so. In most cases, the extension request is granted automatically. Furthermore, it is generally possible to do so by filing IRS Form 4868...
Offshore Voluntary Disclosure Program ends in Sept. 2018
Georgians who have bank accounts and assets located overseas must report them to the Internal Revenue Service. The IRS has announced that it is ending the Overseas Voluntary Disclosure Program, or OVDP, on Sept. 28, 2018. Taxpayers who have undisclosed foreign assets...
Tax errors can cause refund delays
To avoid delays in receiving tax refunds, Georgia residents should take care to avoid certain common mistakes when completing their returns. While many people may believe that only significant mistakes will cause the Internal Revenue Service to hold on to their...
How taxes affect your Social Security disability benefits
Filing taxes is a confusing and sometimes stressful process for many people. To ensure that they file properly, many people seek assistance with their taxes. Whether people are filing themselves or getting help, it is important to understand the aspects...
Handling tax debts
Taxpayers in Georgia who have a balance when they complete their returns are not alone. The Internal Revenue Service reports that more than 18 million people in the country owed federal taxes in September 2014. Annually, around 10 million people have to pay tax...
IRS ready to handle some, but not all, extended tax benefits
Georgia residents who were waiting to file their 2017 income return so that they could claim a tax extender may now be able to file, depending on which tax break they intend to claim. Several tax breaks that expired in 2016 were renewed for 2017, but that didn't...
What to know about 2018 IRS tax returns
The IRS says that it will process 155 million tax returns during the 2018 income tax season. However, not all Georgia residents necessarily need to file a tax return. This will depend on one's earned income and personal exemption. Those who do have to file an income...