Managing a company’s finances is a major responsibility. But what happens when a simple payroll tax oversight spirals into a massive IRS dispute? The fear of personal liability can be paralyzing as you wonder if your career – and financial future – are at risk....
Tax Audit
Mistakes that could increase the chance of an audit
Small business owners may find that one of the most complex challenges they face pertains to their financial obligations to the federal government. Tax laws are not easy to navigate, especially for small businesses, and even a small mistake could lead to significant...
The use of technology may soon trigger audits
It can be extremely intimidating to learn that the Internal Revenue Service is going to conduct a formal evaluation of a company’s or individual’s financial records and tax returns. This is called an audit, and if there are any issues discovered during this process,...
How to prevent an audit of a small business
One of the most intimidating aspects of owning and operating a small business is dealing with tax law matters. Taxes for Georgia small businesses are complex and confusing, and business owners will want to ensure that they do everything possible to avoid an audit....
Why will the IRS initiate an audit?
Matters related to tax laws can be complicated and confusing. When an individual or a business learns of an audit into his or her finances and tax history it can be overwhelming. While the prospect of an audit can be difficult, a Georgia taxpayer has the right to take...
Red flags for IRS auditing a small business
As a budding entrepreneur, your dream has always been to form your own company. Well, now, this dream has come to fruition and you’re running your own small business. This has brought numerous benefits. You have job satisfaction every day and you’re starting to make...
3 things you should know about tax audits
Finding out that you’re being audited by the Internal Revenue Service on your income tax return is a disheartening experience. Whether you’re dealing with this as a wage earner, independent contractor or a business, you have to ensure that you’re handling the...
How social media posts may lead to a tax audit
Social media seems like something completely separate from your taxes; however, this can change quickly if you post the wrong thing. The IRS is facing a huge tax collection gap year after year. This has spurred the agency to engage in more creative forms of finding...
CHALLENGING THE FINDINGS OF A GDOR TAX AUDIT
The Georgia Department of Revenue may audit any Georgia taxpayer or business. Taxpayers who disagree with the GDOR’s findings, are not without recourse and may challenge these findings alone or with professional assistance and guidance. A professional experienced in...
ABOUT GEORGIA DEPT OF REVENUE BUSINESS TAX AUDITS
Businesses in Georgia, like anyplace else, must fulfill their filing and payment obligations related to taxes pursuant to Georgia state law. The Georgia Department of Revenue (GDOR) examines tax returns to review whether the amounts for various items, such as...