Guiding You Through The Legal Process
If you are thinking about creating your will and perhaps other documents in an estate plan, one of your questions will likely be about taxes and how they will affect the assets you want to leave to your heirs. For example, what constitutes a taxable estate? What...
Taxpayers in Georgia and around the country may find that they need guidance from the IRS to answer a question about their return. The IRS may be willing to issue a private letter ruling, and generally speaking, any guidance provided by the ruling is binding....
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....
In Georgia and across the U.S., the Internal Revenue Service is currently mailing official letters to thousands of people who invest in cryptocurrencies. The letters issue official warnings for taxpayers with complex tax issues. The IRS plans to mail letters to...
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...
Tax debt can be overwhelming to manage. Lingering debt can lead the IRS to punish you with collections, interest, penalties, liens and levies. Owing money to the IRS is never a good situation to be in, so you may be looking to bankruptcy as a way out. But whether...
Those who are hurt in Georgia or any other state who receive a settlement could be taxed on those proceeds. In fact, an individual could pay taxes on money that is eventually paid to his or her attorney. However, not everyone will have to give a portion of their...
Taxpayers in Georgia should be aware that the Taxpayer First Act changes the way the Internal Revenue Service conducts certain operations and procedures. This includes changes to how appeals are handled. In accordance with the TFA, the Chief of Appeals oversees the...
American citizens who live overseas are still generally responsible for filing a federal tax return with the IRS. While many former Georgia residents who now live overseas can claim a credit for foreign income taxes paid, this has not been true for individuals...
Georgia residents and taxpayers throughout the country could receive notices from the IRS at any point during the year. In many cases, it is merely the government reaching out to notify a taxpayer about an adjustment made to his or her return. Taxpayers have the...
