Georgia residents may have heard about lawmakers who sent a letter to the Internal Revenue Service commissioner, the U.S. attorney general and the secretary of the Treasury regarding the return of funds that were wrongly seized from taxpayers in certain civil asset...
Month: March 2016
Tips on how to handle an IRS audit
Georgia residents who have received an audit letter from the Internal Revenue Service may be wondering what it means. While the letter may not indicate a person is guilty of tax fraud, it also should not be ignored. In most cases, an audit letter from the IRS means...
Learning more about federal taxes in Georgia
According to figures from the National Taxpayers Union, Americans spent 3.8 billion hours completing tax paperwork in 2009. The tax code is almost 4 million words long. While most people are happy to get a tax refund, going through W-2s and other tax forms is not what...
The tax rates of wealthy Americans
Georgia residents likely know that the United States has what is known as a progressive tax system. This means that wealthy individuals are required to pay a higher rate of income tax than those who are less fortunate, but this is offset by a number of exemptions and...
Correspondence audits on the increase
Georgia taxpayers who earn more than $1 million per year may be less likely to face an in-person or field IRS audit but might be significantly more likely to be audited by mail, also known as a correspondence audit. The IRS has always focused on auditing taxpayers...