Tax & Bankruptcy Blog

The Atlanta tax and bankruptcy attorneys at Wiggam & Geer are dedicated to helping their Georgia clients (both individuals and businesses) solve their financial problems. Part of that commitment includes making sure our clients stay up to date with relevant news. Whether you’re faced with filing for bankruptcy or need help navigating problems with the IRS or a Georgia tax authority, we’re here to keep you informed with the Wiggam & Geer Tax & Bankruptcy Blog. If you need answers about your specific situation, contact us to schedule a case consultation in Atlanta and see how we can get the best resolution for you.

Tax Relief: Offer in Compromise

Tax Relief: Offer in Compromise

If your tax debt is totally overwhelming and you have no hope of being able to pay it, even with an installment plan over several years, then you may be a candidate for the IRS’s Offer in Compromise (OIC). An OIC allows you to settle your tax debt for less than the...

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What to Expect if You Don’t Pay Your Taxes

What to Expect if You Don’t Pay Your Taxes

While they are most often mentioned simultaneously, filing and paying your taxes are two different things, and each accumulates independent penalties and interest when you don’t meet the deadline. Even if you cannot pay your taxes, you should always file your tax...

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How to Get a Tax Lien Removed

How to Get a Tax Lien Removed

If you filed your tax return but have failed to pay your taxes, in all likelihood the IRS has filed a tax lien against your property. A federal tax lien is a claim by the IRS against your assets and is used to secure payment of unpaid taxes. The agency generally files...

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What Does an IRS Audit Letter Look Like?

What Does an IRS Audit Letter Look Like?

Receiving a letter from the IRS can be a startling experience, especially when it concerns an audit. Since the IRS only sends a small percentage of tax filers an audit letter, people aren’t always sure what to look for. Scammers count on that fact to catch people off...

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What to do if You Receive a CP2000 Notice

What to do if You Receive a CP2000 Notice

If your tax returns don’t match the records that the IRS has on file, then you’ll receive a CP2000 notice. Also known as an underreporter inquiry, the notice states that you can face penalties, such as taxes or interest, because of discrepancies in the information...

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Filing Back Taxes This Tax Season

Filing Back Taxes This Tax Season

Filing Back Taxes This Tax Season  If you suddenly realized you made a mistake on your last tax return and owe more money to the IRS, don’t panic. The tax agency has procedures in place for this issue, as does the state of Georgia. Depending on the mistake, it can be...

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Can I Make Installment Payments on My Tax Debt?

Can I Make Installment Payments on My Tax Debt?

Can I Make Installment Payments on My Tax Debt?  If you owe the IRS money and cannot pay the entire amount at once, you might consider applying for an installment payment plan. While these agreements provide you with relief from having to immediately pay the IRS, they...

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What are Soft Letters from the IRS?

What are Soft Letters from the IRS?

If you have received a letter via regular mail from the Internal Revenue Service (IRS) asking about a tax position you took on a recent return or requesting additional information, it was likely a soft letter. These letters are one of several pre-audit tools that the...

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IRS 2021 Tax Rates

IRS 2021 Tax Rates

A new year brings new tax rate schedules and other updates from the Internal Revenue Service (IRS), including a new standard deduction, an increased Alternative Minimum Tax exemption, and changes to the capital gains tax thresholds. Each year, the IRS makes inflation...

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