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April 2017 Archives

People may start receiving IRS calls

Up until recently, Georgia residents could be fairly certain that if someone was calling them in relation to a debt owed to the Internal Revenue Service, the individual calling was a scammer. However, a change made by the IRS in April 2017 means that debt collectors hired by the IRS may be calling people who owe money in an effort to collect unpaid taxes.

IRS to conduct fewer audits in 2017

Taxpayers in Georgia and around the country are less likely to receive an audit notice in 2017 than they were in previous years due to belt-tightening at the Internal Revenue Service. Lawmakers rely on the money collected by the IRS to fund federal agencies and pay for entitlement programs. However, congress has slashed the agency's funds in recent years. This has led to budget cuts and layoffs in virtually all IRS departments, and fewer auditors mean fewer audits.

Why taxpayers should consider an extension

Georgia residents who need more time to file their taxes may ask for an extension. This means that those who ask for an extension on their 2017 personal tax returns won't have to file until Oct. 16. One of the best reasons to ask for an extension is to cut down on potential late fees. The IRS charges a 5 percent late filing fee for each month that a return is late on top of any taxes owed.

How to handle income tax identity theft

Georgia residents may have heard about income tax identity theft. The act involves a criminal stealing a person's social security number and using it to file a fraudulent return. The criminal's goal is to trick the IRS into sending a refund based on that fraudulent return. In an effort to combat this problem, the IRS, state tax agencies and private companies have joined forces.

5 ways to save money on your taxes this year

Death and taxes are the two constants everyone must face, but that does not mean there is nothing you can do to make both more comfortable. As a tax-paying citizen, you have the right to do what you can to lower your taxes and minimize your obligations. Many Americans miss out on ways to cut taxes, but the following steps can help lower your liability as you plan for next year.

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