Atlanta Tax Blog

When Tara walked out to her mailbox and saw the heavy envelope from the IRS with the handwritten address, she had a bad feeling before she even opened it.

If you are one of the less than one percent of people who receive an IRS audit letter, don’t panic. More than likely, your tax return was flagged because of one of these common IRS audit triggers.

While nearly 150 million federal tax returns are filed each year, the IRS audits less than 1% of them. However, for those that do get caught in the government’s crosshairs, the audit process can be long and costly.

A reorganization typically used by companies to continue operating a business and repay creditors through a court approved plan...

A debt reorganization for individuals with a regular steady source of income...

A liquidation bankruptcy that allows most individuals to complete get rid of their unsecured debt such as credit card debt, medical bills, old utility bills, and old apartment leases...

Taxpayer will still owe the debt but will have a smaller monthly payment based on ability to pay, which could help taxpayer stay in good standing...

Taxpayer will still owe the debt but will not have a monthly payment, which could help taxpayer stay in good standing with the IRS...

The upside to the 84-month pilot program is no financial statement is required and it is not based on ability to pay...