Guiding You Through The Legal Process
Georgia residents who have had all or part of their debt canceled by a lender normally have to report the amount as taxable income. However, for mortgage debt that has been canceled, homeowners may be able to take advantage of a tax exclusion. If the canceled debt was...
As the owner of a small business, tax season is not likely to be your favorite time of year. Not only is it a complicated process to file your individual taxes, but now you must ensure that your business taxes meet federal guidelines and that you avoid an audit...
Tax audits are down for the fifth straight year according to information from the Wall Street Journal. In fiscal year 2016, just .7 percent of returns were audited, which translates to about one audit for every 143 returns. That was the lowest volume of audits since...
When it comes to audits by the Internal Revenue Service, some Georgia taxpayers may fear that they will be audited. Forgetting to file certain IRS forms is a common way to trigger an audit. In many cases, the IRS has the authority to audit up to six years of...
Georgia residents may be in the habit of filing a tax return each year. However, depending on an individual's filing status and income, that may not be necessary. Typically, people don't have to file if their income is less than the standard deduction and personal...
Some Georgia residents are financially unable to pay their IRS bills because of not having anything left to pay towards their bills after their other expenses. If you owe back taxes and are unable to make payments to the IRS because of your limited income, you may...
Tax forms have all been mailed, and the deadline for filing starts to loom for many people. As you prepare to file your 2016 taxes, your goal is to limit your obligations to the government and maximize a refund if you are getting one. Every year, millions of American...
Most Georgia residents understand that the best way to avoid the wrath of the IRS is to file a tax return and pay taxes on time. However, those who don't follow those rules aren't necessarily going to be sent to jail. Typically, the IRS would rather work out a...
The death of Prince at just 57 years of age in April 2016 left music fans in Georgia and across the country saddened. The iconic performer reinvented himself on a number of occasions during a glittering career that spanned more than four decades, but his failure to...
When an estate is worth more than the federal exemption, estate tax rates could be as high as 40 percent. Georgia residents may need to know about the importance of taking into account these contingencies when they are planning their estates. While estate tax burdens...
