Atlanta Tax Blog

The Internal Revenue Service is treated as something of a boogeyman by many Americans. People speak in hushed tones about audits and garnished wages and are intimidated by the thought of speaking to an agent.

The IRS has introduced the Taxpayer Relief Initiative (TRI). This new set of policies aims to alleviate the cumulative financial strain the pandemic has placed on millions of families.

Cathy Strobeck, CPA, is the owner of Atlanta area based Add-Vantage Accounting Services, Inc. and the author of Solving the Puzzle: How Small Business Owners Can Grow Their Business and Avoid Tax Trouble.

What happens when you owe the IRS more money than you can afford to pay by the due date?

Alyssa joins the Fashion Law Network podcast to discuss the tax implications of Hollywood swag/gift bags, celebrity and influencer tax issues, and the recent Gucci tax evasion case.

Understanding what each is can make a difference in how the IRS looks at what you have done. This video and article explains.

If just the title of this post is giving you heart palpitations, take a deep breath. Only about 0.45% of tax returns were audited in 2019. Your chances are very low that you will receive a letter from the IRS. Still, there are a few red flags that could prompt the IRS to take a second look at your tax return, and it’s important to know what they are—because forewarned is forearmed.

“I was shocked by the amount of money I owed, and I was scared that I could lose everything,” Katie says.

I was inspired to create this video beauce I had seen other professions, such as the medical profession share their experiences of how people of color are affected in their areas of practice and what we can do to help educate ourselves about that disparity and how people of color are treated in our institutions.