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December 2014 Archives

What criteria must be met to receive relief from IRS penalties?

If any IRS employee or officer in Georgia or any other state gives bad written advice to a taxpayer and the IRS charges the taxpayer with a penalty as a result, the taxpayer may file for relief of the penalty during a specific time period. This can result in a credit or refund if he or she already paid the penalty. Though this law does not apply to oral advice, the IRS may provide relief based on poor oral advice at its discretion.

Understanding the impact of an IRS tax levy on your finances

Georgia residents who are dealing with IRS issues may be interested in some information on our firm's tax law practice and how it may be able to provide help. Without effective representation, actions by the IRS may seriously affect your finances.

IRS tax audit answers for Georgia residents

The Internal Revenue Service may generally audit a return no more than six years after it was first filed. In most cases, the IRS will try to audit all returns no more than two years after they are filed. While the statute of limitations is three years in most cases, the IRS can go back up to six years if it finds a substantial error on a tax return.

Additional tax assessment notices in Georgia

After a person files a Georgia state income tax return, the Georgia Department of Revenue may review the return and make an initial determination that the filer owes additional tax. Generally, the first time a person will learn of the additional tax assessment is when they receive a notice of assessment from the DOR in the mail.

How is a return selected for an audit?

The IRS elects to audit tax returns based on a number of factors. Selection for audit is not arbitrary; rather the return is first evaluated in a lengthy and thorough process. Then a final determination is made as to whether or not the return will go through the full audit process. Individual states, including Georgia, follow a similar process.

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