Preparing to seek relief from debt concerns can be a stressful process and there may be a variety of options to consider prior to choosing a path forward. While obtaining relief via debt forgiveness or cancellation can take a significant weight off one’s shoulders, sometimes it may also prompt unexpected results. There may be some scenarios in which debt forgiveness or cancellation could leave individuals in Georgia facing tax debt concerns.  Debt forgiveness and taxes  Individuals who are preparing to seek relief via similar paths might benefit from knowing the amounts forgiven, dis ..read more

It can be incredibly intimidating to receive notice that the Internal Revenue Service will be taking a closer look at your tax return. The word “audit” is frightening, especially for those who are unaware of what to expect from this process and unsure of how to respond. What you do next matters, and knowing how to properly respond to this is essential. Even if you believe that your tax returns are accurate and properly filed, you will need to have a course of action for how you can resolve this matter as expediently as possible.  The first step in the IRS audit process is receiving a noti ..read more

Many business owners may feel that addressing the topic of taxes can be one of the most complex aspects of managing company affairs. Even with an effective tax strategy in place, business owners in Georgia may still wonder when the day will come in which their companies are selected for a tax audit. While there might not be a way to eliminate the likelihood of facing a business tax audit, there may be some steps owners can take to help reduce their chances of facing such a situation.  The steps  One step that may help reduce the chances of a business tax audit could involve being tho ..read more

While facing high tax obligations can be harrowing under any scenario, there may be some instances in which similar trials could place a significant burden on one’s life. Individuals in Georgia who struggle under the weight of significant tax debt burdens may have questions about the available options to help protect their future interests. Currently not collectible status is an option that could help provide much-needed relief from high tax debts, but some might not know how to tell if they are eligible for this program.  Addressing eligibility for CNC status  Experts indicate that ..read more

There may be many scenarios in which tax obligations might prove significantly higher than expected and facing similar forms of debt can be a harrowing experience. Individuals in Georgia who encounter issues with overdue tax debts and worry that they will struggle to manage these obligations may have questions about whether such debts are eligible for discharge via bankruptcy. While bankruptcy could help provide relief from tax debts in certain scenarios, this might not always be a viable path in every situation.  Tax debts in bankruptcy  According to experts, there may be numerous r ..read more

While paying taxes is a responsibility all business owners might face, there may be some situations in which tax bills could end up being much higher than one expects. Small business owners who receive notices of high tax bills may have concerns about whether they will be able to cover these obligations. Business owners in Georgia who face similar concerns may find that there might be several factors to address when preparing to create a strategy to stave off tax debt concerns.  The factors  One of the first factors to address could pertain to knowing the importance of filing busines ..read more

Individuals who struggle with high tax obligations may have understandable concerns about how this might affect their lives and about the best path to take to protect their futures. While there may be a variety of outlets with which to seek relief from tax debt concerns, choosing the best path available could seem somewhat challenging at times. An offer in compromise is an example of an option that may help provide much-needed relief from tax debts, but individuals who Georgia who face similar concerns might have questions about what to expect from this process.  Topics to address  E ..read more

Those who struggle to keep up with tax obligations may choose to explore a variety of options in the pursuit of financial relief. In some cases, individuals in Georgia might wonder if taking out a personal loan to cover tax debts could be a viable solution. Evaluating some of the risks involved with such a path could help those who face similar hardships prepare to seek guidance in addressing their situations and options. Potential risks While taking out a personal loan to address debt concerns might seem a viable path, studies indicate that there may be numerous risks involved with such a dec ..read more

Those who struggle to keep up with tax obligations may have concerns about what this might mean for their financial futures and how the situation might affect their lives. In some cases, individuals in Georgia who face high tax debts may even worry that they may encounter issues such as foreclosure. Seeking advice in evaluating the situation could help individuals who struggle with tax debts prepare to seek financial relief and stave off unfavorable results.  Tax foreclosure  Experts indicate that since homes and other types of properties are classified as tax-delinquent assets, it i ..read more

Although there may be many individuals who have taxes taken directly out of their paychecks, this might not be the case for everyone. Individuals in Georgia who are responsible for managing tax obligations on their own may have concerns about the possible risks involved with estimating tax payments. Being thorough with this process could be vital to staving off a variety of risks, but sometimes it may also be helpful to know where to turn should issues with tax debts arise.  Estimating taxes  Estimating tax payments is a responsibility that may be a reality for many individuals, rang ..read more