Bomar Law Firm, LLC  - Trusted Experience. Focused Results.
404.841.6561
View Our Practice Areas

September 2017 Archives

IRS may be unreliable for tax advice

According to a national advocate for taxpayers, people in Georgia and across the U.S. should not rely on much of the information provided on the Internal Revenue Service website. Specifically, the Frequently Asked Questions page and other guidance on the site listed as unofficial may not be accurate when it comes to actually filing taxes. There are three categories of guidance provided by the IRS.

Questions about proposed partnership rules

Georgia residents who are in business partnerships should be aware of regulations being proposed by the Internal Revenue Service regarding partnership audits. The agency is having a hearing that will provide taxpayers and their financial advisers the opportunity to voice questions about the rules.

Control capital gains tax with 1031 exchange

When individuals in Georgia buy and sell real estate or business assets, capital gains taxes could be a costly concern. Solutions could emerge with planning and patience because an Internal Revenue Code Section 1031 exchange or irrevocable trust provides the legal instrument for navigating around taxes under the right circumstances.

IRS grants extensions to those affected by Harvey

The Internal Revenue Service has announced tax relief for people and businesses affected by Hurricane Harvey. As another hurricane might be hitting Georgia, taxpayers in that state might soon be seeing a similar announcement in the future. The IRS has said it will automatically provide penalty and filing relief to any taxpayer whose address of record with the IRS is located within the disaster area. Individuals who live in the area, therefore, are not required to contact the IRS to secure relief.

100 Galleria Parkway SE | Suite #480 | Atlanta, Georgia 30339 | Phone 404-841-6561 | Toll Free 800.765.2779 | Email Us | Get Directions

Back To Top