Need help preparing and filing your taxes this 2026 tax season? Annual taxes have an uncanny way of making even a calm, rational person spin into a frenzied state. One minute, everything is smooth sailing, and the next, you’re staring at forms, deadlines, and lots of fine print, wondering where to begin.
Residents and business owners in Villa Rica, Georgia, often ask our business and personal tax prep experts the same questions year after year. Do I even need to file? What bracket am I in this year? Am I missing a deduction that everyone else seems to know about? Are there any new credits or changes to current credits?
This is exactly why our team at RWB Tax Service decided to write this helpful FAQ guide covering tax basics. Here, we cover the most common questions Georgia filers ask every tax season, so our friends and neighbors have the facts they need to face tax prep head-on.
Most people who live or work in Georgia should file a Georgia State tax return. If you earned income during the year and that income is taxable, Georgia will expect a return from you. Types of taxable income that are applicable are:
Even if your income seems low, filing can still matter. Oftentimes, taxes have been withheld from your paycheck, and filing is the only way to get that money back. Generally speaking, filing your taxes annually keeps you compliant and could help avoid receiving confusing letters from the Georgia Department of Revenue in the future.
There are a few situations in which someone might not need to file, such as very low income levels or specific tax-exempt scenarios. Still, many people choose to file simply to err on the side of caution and keep their records in compliance. Need tax help? RWB Tax Service in Villa Rica, GA, is happy to assist you with all of your tax needs.
In April of 2022, Governor Brian Kemp signed House Bill 1437, which switches Georgia's tax system from a bracketed income tax to a flat-rate tax. This change was implemented beginning with the 2024 tax season. The goal of a flat-rate tax system was to eliminate the old system of multiple tax brackets, thereby simplifying tax filing for Georgia earners. Instead of multiple brackets that change as your income grows, Georgia now uses a single rate across the board.
For recent tax years, Georgia’s flat income tax rate has been 5.49%, with plans to gradually lower it in future years if certain revenue goals are met. What this means for you is that everyone’s taxable income is taxed at the same percentage, with no sliding scale to calculate.
Currently, Georgia’s flat tax rate is 5.19%, effective July 1, 2025. Keep in mind, this rate applies after deductions and exemptions, not to your total gross income. Once everything has been factored in, you often end up paying a significantly lower amount than expected.
Georgia follows the federal tax calendar to make it easier to keep up with tax filing deadlines. Most years, the deadline to file your Georgia state tax return is April 15th. However, if April 15th falls on a weekend or holiday, the deadline is usually extended to the next business day. This applies automatically, so you don’t need to take any additional actions in this case.
Missing this deadline can lead to penalties and interest, so make sure to mark your calendar or set a reminder well in advance.
Yes, Georgia does allow filing for extensions, and the process is fairly painless. If you file a federal extension, Georgia automatically honors it. No extra state form required. It’s important to note that while an extension allows you more time to file your paperwork, this extension does not give you more time to pay.
If you anticipate you’ll owe taxes, you will still be required to send in an estimated payment by the original deadline to avoid costly penalties and interest. The purpose of an extension to file is to allow you a little extra breathing room when it comes to calculations and submitting forms, not an extension of when payment is due.
Most Georgia residents file using Form 500, the Individual Income Tax Return, which covers wages, deductions, credits, and everything else most filers need.
Nonresidents and part-year residents use Form 500-NR to report income earned only in Georgia.
Additionally, some filers may require additional schedules depending on their situation, such as itemized deductions or retirement income exclusions.
If you’re using tax software, it usually selects the correct forms automatically, but if you are filing by paper, proactively double-checking that you’re using the correct form type will save you from headaches later. Sometimes, calling in the tax preparation professionals can greatly alleviate the dreaded annual stress many experience related to all things related to tax help.
If you run into any tax questions when attempting DIY tax preparation, RWB Tax Service in Villa Rica, GA, is just a phone call away at (770) 456-9980. Our tax experts remain up to date on the latest state and federal tax regulations.
What Deductions and Credits Are Available in Georgia?
Georgia offers a mix of deductions and credits that can lower your tax bill, sometimes by a surprising amount. Some of these tax credits and deductions may reduce taxable income, while others directly reduce the tax owed. Here are a few common tax deductions and credits many Villa Rica, GA, filers use:
Eligibility depends on income level, age, filing status, and several other factors. Taking the time to read about and understand credits and deductions that could be applicable to you can prove to be beneficial to your Georgia tax filing.
Waiting for a tax refund can feel a bit like watching water boil. Georgia makes it fairly easy to check on progress through the Department of Revenue’s online refund tracker. You’ll need your Social Security number, filing status, and the exact amount of your expected refund.
Once the required information is entered, the system will provide the current status of your tax return, from return received to refund issued. Refunds usually arrive faster when you file electronically and choose direct deposit. Paper returns and mailed checks take longer, so patience helps in those cases. Before checking the status of your return, the website recommends waiting 2-3 weeks for processing time after submission.
Owing taxes is never ideal, but it’s also not the end of the world. Georgia provides several options for handling a balance due. If you can pay the full amount by the deadline will avoid penalties and interest accrual. If paying the balance all at once isn’t realistic, Georgia offers payment plans that spread the cost over time.
When taxes are owed:
Communication is key. The sooner you respond to these notices, allows for more flexibility and far less stress.
Learn more about your options when you owe the IRS with our blog: Tax Relief Options in Georgia When You Owe More Than You Can Pay.
Mistakes happen. From a missing form, a mathematical error, or forgotten income can drastically throw your tax return off. Luckily, Georgia allows amended returns, making it possible to correct any errors.
To correct a return, you’ll need to file Form 500X, which shows the original numbers alongside the corrected ones. You can amend returns for several years back, as long as you’re within the allowed time frame.
If the mistake results in a refund, you’ll receive the difference. In the event the error results in a higher amount than what you originally owed, you can minimize any additional fees by paying as soon as possible. Either way, the sooner you make corrections, the better.
Georgia is considered fairly retirement-friendly, especially for older residents in the Villa Rica and Carroll County area. The state of Georgia offers generous exclusions for retirement income, including pensions, IRAs, and other qualified plans.
The amount excluded is largely based on age. Once you reach certain age thresholds, a large portion of retirement income can be excluded from Georgia's taxable income. This can significantly reduce, or possibly altogether eliminate, state tax liability for retirees.
Careful withdrawal planning can make a significant difference in retirement taxes, and many retirees review their income sources each year to remain within exclusion limits. Contact RWB Tax Service if you need tax help with your retirement income.
Nonresidents who earn income in Georgia need to file a Georgia return. This includes receiving wages from a Georgia employer, income from property located in the state, or earnings from a Georgia-based business.
Only income connected to Georgia gets taxed. Income earned elsewhere is not included in the calculation. Form 500-NR is designed specifically for this situation and helps separate Georgia income from everything else. Part-year residents fall into a similar category and also use the nonresident form to accurately report income.
Here’s some good news: Georgia does NOT tax Social Security benefits. Income from Social Security is fully excluded from Georgia's taxable income, regardless of age or total earnings. This tax perk is one reason many retirees appreciate living in Georgia.
Combined with retirement income exclusions, exempting taxes on Social Security benefits means state taxes remain fairly low during retirement years. Although federal taxes may still apply, Social Security stays untouched by the state of Georgia.
Not everyone needs a tax professional, but in certain situations, recruiting help with taxes can be beneficial, saving you time, headaches, and possibly money. If your taxes involve multiple income sources, business ownership, rental properties, or major life changes, having expert tax guidance can make tax season feel like less of a hassle.
On the other hand, many Georgia residents file successfully using tax software or simple forms. If your income comes from a job or two and your deductions are straightforward, self-filing often works just fine. Ultimately, the decision comes down to your comfort level. If filing taxes feels overwhelming or stressful every year, RWB Tax Service can provide you with peace of mind, knowing your taxes are filed correctly and in compliance with ever-changing rules and regulations.
Georgia’s tax system isn’t as intimidating as you may have initially thought. Once you understand the basics, filing state taxes in Georgia becomes more routine and less stressful. Deadlines are consistent, there is a flat tax-rate, and many exclusions can help lower your final amount owed.
As long as you stay organized, remember to file on time, and ask for tax help when things feel confusing, filing taxes doesn’t have to feel like such a daunting task. With the right information, a little preparation, and tax help from your local Villa Rica, GA, team of tax professionals at RWB Tax Service, filing just became a whole lot easier! Call us today at 770-456-9980 for answers to your tax questions, or if you want to simplify the process of yearly personal or business tax prep!
If you live in Carroll County, Georgia, but work across state lines, you already know that your daily commute can bring more than just traffic. Working across state lines can also bring a tangled web of tax regulations. Unlike people who live and work in the same state, cross-border workers often face the challenge of filing taxes in multiple states, navigating differing tax laws, withholding and deduction rules, and tax reciprocity agreements (or the lack thereof).
The good news is you don’t have to figure it all out alone. Our team of tax advisors at RWB Tax Service in Villa Rica, GA, is here to help cut through the confusion. We have helped countless Carroll County residents with tax planning, multi-state tax consulting, and ensuring tax compliance across state lines.
In this guide, we’ll break down the purpose of multiple state taxes, expectations from the Carroll County Tax Commissioner, and how to avoid common pitfalls regarding multi-state tax withholding. If you need help with your multi-state taxes, make an appointment by calling (770) 456-9980 or submitting our online contact form today.
Initially, most people are confused about why they have tax obligations in multiple states. For example, you may live in Carroll County, but your job could be just over the Alabama state line; or you may be working remotely from your home in Villa Rica, GA, but your employer is located out of state. When it comes to tax liabilities, states aren’t concerned with the location of your couch or where your car is parked during your off hours; the concern is where the income is considered to be “earned.” This caveat is where the lines can become blurred.
Perhaps you did job training or had temporary work assignments in another state, or worked for a company that operates across state borders, when all of a sudden, you notice that your paycheck reflects these tax deductions. Even a short inter-state move into or out of Villa Rica, GA, during the year can trigger tax obligations from multiple states asking you to file.
A state’s main objective, when it comes to taxes, is to recoup any taxable income it’s entitled to. If your work or living arrangements change during the year, you’ll be faced with multi-state tax obligations come tax preparation time. Multiple state taxes are common for people in bordering areas or for those who work for companies spanning across multiple states. Usually, once you understand the tax implications of multi-state taxes, things start to fall into place.
Determining your residency makes a significant difference in how your state’s tax laws are handled. Georgia groups people into categories, such as full-year resident, part-year resident, and nonresident. How your income is taxed is determined by which category you fall under. If you live in Carroll County for the entire year, you’re considered a full-year resident of Georgia, even if you worked in another state. Here are a few more scenarios:
Be sure to regularly check your tax withholding forms because sometimes your employer may withhold tax for the wrong state, which can be easily missed if you’re only reviewing withholding forms when tax preparation season rolls around.
When you gain knowledge of which state considers you a resident and for how long, it will be easier to figure out what each state expects of you, helping to avoid multi-state tax complications when filing.
Income sourcing is often the most significant source of stress for most people. Many states will tax income generated within their borders, so the key is understanding where the work itself took place. At RWB Tax Service in Villa Rica, GA, we’re in the business of helping Carroll County residents determine their source of income, plan for taxes, and understand different state tax laws, making tax preparation less stressful.
If you commute from Villa Rica or Carroll County, GA, into a bordering state every day, this state considers any income earned within its borders taxable. If you split your time working between multiple states, each state gets a portion based on the number of days you were physically working there.
Remote work adds a slight complication, but the idea remains the same. What’s most important is where the work was performed, not where the company is headquartered.
Carroll County freelancers, contractors, and individuals with side jobs may be more affected by income sourcing because they may have clients across multiple states, and each invoice may be tied to a different location. Once you understand that where you were physically while earning income is a major determining factor, the whole picture becomes much clearer.
Tax credits save people from paying double tax on the same income.
If you reside in Carroll County, GA, but earned income in another state, Georgia generally gives you credit for the tax you’ve already paid elsewhere. This income tax credit prevents you from being taxed twice on the same money. The amount isn’t always split perfectly, but it does help soften the blow.
The tax credit usually shows up on your Georgia state return, not the state where you earned income. This means you will first need to file the nonresident return, see how much you owe there, and then the Georgia state return should apply a credit to balance out the amount owed.
Although this doesn’t magically eliminate every dollar paid in taxes, the credit prevents you from being hit twice at full price, which many Villa Rica residents find helpful.
Remote work laws have been rapidly shifting since more people started working from home. Some states have created special state tax laws that base taxable income on the employer’s location instead of your physical location (if the work you’re doing is considered “convenient” for the employer).
This adds yet another complex layer for employees residing in Carroll County but employed by companies in other states, especially if these tax laws apply to the state where your employer is located. It can be confusing because it would make more sense that the state in which you’re remotely working would be entitled to your taxable income, right?
Unfortunately, not all states view it from that angle. These state tax laws can allow states to pull you into their tax system even if you never cross state borders.
By identifying if your employer’s state implements these remote work laws, you’ll have a better understanding of how multi-state taxes apply to you, preventing surprises during tax filing season. As remote work continues to grow, more states are adjusting their policies, so it’s important to stay informed of any changes.
Your W-2 reflects how much your employer withheld during the year, and multi-state wages can make this form more difficult to understand. If you worked across state lines or remotely for an out-of-state company, the state wages and tax sections may not accurately reflect your earnings. Routinely checking your W-2s and tax withholding forms is a vital step in tax planning, helping you avoid costly penalties.
You should closely monitor which state your employer is withholding taxes from, because sometimes bookkeepers use the company’s default location instead of your actual work location. This can lead to excessive tax withholding in one state and insufficient withholding in another.
Another good tax planning strategy is checking your pay stubs throughout the year. This is far easier than trying to course-correct after the fact. If anything looks incorrect, contact your payroll department as soon as you notice it, rather than waiting until tax preparation season rolls around.
Your W-2 might also list multi-state taxes if you’ve physically worked in more than one state. This is normal and doesn’t typically mean there’s been an error; it simply indicates you’re required to file taxes for each state, and the tax credit system will balance out the numbers on your Georgia return.
Many Carroll County residents panic when they learn they need to file more than one state tax return. The natural assumption is that a multi-state tax means two full tax bills, but that’s usually not the case.
When you file a nonresident return in the state where income was earned, it’s just a way to ensure that state is able to collect its portion of taxes owed. Your Georgia state return then provides a credit for taxes paid outside the state.
This process keeps your income from being taxed twice at the full rate. You end up paying a total amount that aligns with Georgia’s overall tax level in most cases, except for a little extra calculation.
Reciprocal arrangements are among the more user-friendly features of multi-state tax rules. Some states work out arrangements that allow residents to only pay taxes to their home state, even if they work in a neighboring state. If you need help determining whether reciprocal arrangements may apply to you, contact RWB Tax Service, your Carroll County tax experts, conveniently located in Villa Rica.
Since Carroll County borders Georgia and Alabama, these reciprocal agreements can simplify multi-state taxes. Instead of filing a nonresident tax return every year, you may only need to file for Georgia state taxes, as long as you’ve submitted the correct form to your employer.
These tax arrangements don’t apply to every state, and participating states are very specific about how they work. These agreements apply only to wage income and usually require paperwork submission at the employer level, so make sure your payroll department knows to withhold taxes for your home state only.
In the event the form wasn’t filed or processed improperly, you could still get stuck with tax withholding for both states, which means you’ll be on the hook for filing multi-state taxes. When a reciprocity agreement applies to your situation, the process becomes much easier to manage.
Good recordkeeping is your best defense (and biggest time-saver) when dealing with multi-state taxes and tax planning in general. If you live in Carroll County but work in another state (or work remotely for an out-of-state employer), following these simple tax strategies can make multi-state taxes less of a burden:
Maintaining clear, consistent records not only helps you file accurately, avoiding costly tax implications, but can also help you confidently take action in the event your compliance with multi-state tax compliance is ever questioned.
There’s a point when managing multi-state taxes can shift from “challenging but manageable” into “throwing in the towel, time to call in the tax experts”. This is where our tax planning consultants at RWB Tax Service, located in Villa Rica, GA, step in to guide you through the confusion!
If you’re dealing with multiple states, navigating remote work laws, unusual tax withholding activity on your W-2s, or income that moves around a lot during the year, recruiting help from our tax professionals can save you countless hours, keeping you tax-compliant and avoiding costly mistakes.
At RWB Tax Service, our Carroll County tax professionals understand how states interact with each other and can confidently walk you through all things tax credits, state tax residency rules, and income sourcing without missing a beat.
We ensure your returns are prepared and submitted in the correct order, as credits only work when returns are prepared properly. So, if you’ve moved in or out of state mid-year, have multi-state business income, or have received tax letters from multiple states, our tax experts at RWB Tax Service, in Villa Rica, GA, are here to help!
Recruiting professional help in Carroll County when it comes to multi-state taxes is an extra assurance that you’re filing correctly when complications arise and confusion sets in. Tax preparation done correctly from the start can help eliminate the likelihood of tax audits, keeping you compliant when it comes to multi-state planning.
At the end of the day, multi-state taxes can seem intimidating, but once you understand how the pieces fit together, the picture zooms into focus. Employees living in Carroll County and working across Georgia state lines are incredibly common, and so is filing multi-state taxes.
If you need help preparing and filing your multi-state taxes in Carroll County, our tax experts are here to help, no matter the complexity. Call RWB Tax Service in Villa Rica, GA, today at 770-456-9980 for trusted professional help filing your multi-state taxes.
So, you just received an official letter from the Georgia Department of Revenue saying you owe more in taxes than you can afford right now. Your heart sinks, your mind begins to spiral, and you think, “How on earth will I pay this?”
Take a deep breath. You’re not the first person in Georgia to be in this boat, and you definitely won’t be the last. The good news is you’ve got tax payment options. The Georgia Department of Revenue offers several ways to make tax debt more manageable. Some tax payment options let you pay over time, others may reduce your total bill, and others pause collections while you get your finances sorted out.
In this post, we’ll discuss what tax relief options are available when you owe more than you can pay in Georgia. For further support navigating tax payment options, connect with RWB Tax Services at (770) 456-9980 today.
An installment agreement involves setting up a payment plan with the state of Georgia. Instead of paying your bill in one lump sum, this tax payment option allows you to make smaller monthly payments until it’s paid off. Georgia’s Department of Revenue (DOR) offers tax relief by allowing taxpayers who are unable to pay in full to request an Installment Payment Agreement.
This is a fairly straightforward process for tax relief. You apply online through the Georgia Tax Center and will propose a monthly amount that you can afford. The DOR then reviews your request and decides if it’s reasonable based on your income and expenses. Upon approval, you’ll be expected to make agreed-upon payments on time each month until the balance is paid in full.
Keep in mind that interest and penalties will still accrue while you’re on this tax relief plan; however, this benefit helps you avoid aggressive collection actions, such as wage garnishments or bank levies. An Installment Payment Agreement allows you the ability to remain current while paying down past tax debts.
It’s important to note that Georgia can cancel any tax relief agreement if you fall behind again, so make sure not to miss deadlines, skip payments, or ignore any new tax bills that may arise.
An Offer in Compromise is an agreement with the state of Georgia that allows you to pay less than you owe. Georgia’s Offer in Compromise is a tax relief program that allows taxpayers to settle their tax debt for a reduced amount if they’re truly unable to pay the full balance.
Although not easily approved, this tax payment option can be life-changing for those who do qualify. The state considers your financial situation (income, assets, debts, and living expenses) to determine whether collecting the full amount is realistic. If they conclude it’s not a feasible option, they may consider accepting a lump-sum payment for a smaller amount and forgiving the remaining debt.
There are three main reasons Georgia might approve an OIC as a tax relief option:
The process of applying for an OIC is quite in-depth. You’ll need to submit supporting documents, such as pay stubs, bank statements, and a detailed breakdown of monthly expenses. If your Offer in Compromise is accepted, you can walk away with a clean slate once you’ve paid the agreed-upon amount. Although this process can be grueling, the results are often worth it.
When tax deadlines are missed, the penalties can pile up fast. Sometimes, they add up to more than the actual tax bill itself.
You might be able to waive some or all of these incurred penalties through a penalty abatement. Georgia allows taxpayers to request a reduction or removal of penalties if there’s a legitimate reason for falling behind. You must be able to prove that you had “reasonable cause.” This could include things such as:
Georgia doesn’t automatically offer tax relief via penalty waivers, so you’ll need to write a letter or file a formal request explaining your situation. Be honest, be specific, and include proof when you can.
If it is deemed that the situation was out of your control, the Georgia Department of Revenue can remove these penalties and even reduce some of the interest tied to them. Although this tax relief option doesn’t magically erase your debt, penalty abatement can make your balance much more manageable.
If you’re truly struggling to make ends meet, Georgia may temporarily pause collection efforts through a hardship deferral program, also known as currently not collectible status. It’s meant for people who genuinely can’t pay anything without risking their basic needs like food, rent, or utilities.
In order to be considered, you’ll need to show irrefutable proof of your financial hardship. This includes providing records of income, monthly expenses, and supporting documents to help strengthen your case. If approved, Georgia’s Department of Revenue will temporarily halt debt collection efforts.
This by no means erases the debt. Interest still accrues in the background, but you won’t face levies, garnishments, or aggressive letters while your hardship status is active. This tax relief deferral is designed to allow people time to financially stabilize before Georgia resumes collections. It’s like a temporary pause button when life hits you hardest.
Sometimes, you may find yourself facing tax debt to the IRS, in addition to state taxes. You’ll be glad to know that the IRS has similar relief options designed to work alongside Georgia’s.
You can apply for an IRS payment plan that allows you to pay your federal taxes over time. The IRS offers a federal Offer in Compromise program that’s almost identical to Georgia’s. If you qualify at the federal level, it’s also worth checking your eligibility at the state level.
There’s also a tax relief option called Currently Not Collectible (CNC) status with the IRS. If you’re able to prove that paying your tax debt would make it impossible to afford necessities like food or housing, the IRS may temporarily halt collections.
Additionally, if your current or former spouse was the cause of this tax problem, Innocent Spouse Relief can protect you from being held responsible for their portion of the debt under certain conditions.
If you cannot pay your Georgia taxes, things won’t unravel overnight, but they do get worse the longer you wait. The Georgia DOR adds interest and penalties almost immediately after the due date. Over time, that amount can quickly snowball out of control.
If you continue to ignore the debt, the Georgia Department of Revenue will eventually move to aggressive collections. At this stage, the following actions may be taken:
Multiple warnings often precede these extreme measures. Ignoring or avoiding tax-related letters puts you on a fast track to losing control over your finances and assets.
Once a lien or levy has been established, it’s much harder to correct course, so this is where it pays to be proactive. Most people don’t realize that simply ignoring their tax debt won’t make it disappear. In fact, it grows exponentially. Interest, late fees, and penalties continue racking up until it feels impossible. Even if you can only afford a small monthly payment, it’s better to take action now than to wait until your balance doubles.
If you’re reading this and thinking, “Okay, but where do I actually start?”. Here’s a simplified version of what actions to take next. First, make sure you’ve filed all required tax returns. The Georgia DOR won’t consider any tax payment options if your filings aren’t up to date. Even if you’re unable to pay, file anyway; doing so will keep you compliant.
Next, get organized. Write down your income, expenses, assets, and debts. This helps you figure out how much you can realistically afford to pay monthly and makes filling out applications easier. Visit the Georgia Department of Revenue website and apply for a payment plan. It’s the easiest tax relief option to start with and helps buy you some time. If the minimum payment is still too much for your budget, consider an Offer in Compromise or a hardship deferral. If you’ve been hit with multiple penalties, you can also request penalty abatement for additional tax relief.
Remain consistent in communicating with the Georgia Department of Revenue. Promptly respond to letters and emails, even if you’re not able to pay. Showing effort and a willingness to rectify your tax debt can be beneficial to your case. Whatever you do, remain current on this year’s taxes, because we’re trying to solve problems, not add to them.
When To Seek Professional Help for Tax Relief in Georgia
For many, the tax system can feel like a maze. Tax attorneys, enrolled agents, and certified public accountants (CPAs) know how to navigate Georgia’s relief programs and work to negotiate on your behalf. They handle the paperwork, communicate with DOR agents, and make sure your applications are solid.
Although hiring a tax professional sounds like an added expense, consider it an investment in your financial future. Hiring a tax expert could save you thousands in penalties or help negotiate a much smaller payment. There are also low-cost or free resources, such as Georgia Legal Aid or Low-Income Taxpayer Clinics (LITCs), that can guide you through the process.
If you have a large amount of tax-related debt, a complex situation, or are already facing collection actions, it’s time to call in your local tax experts at RWB Tax Service in Villa Rica, Georgia, at 770-456-9980. Let our experts guide you through this stressful time, so you don’t have to do it alone.
Owing more than you can pay in taxes can feel terrifying, but Georgia offers several ways to get back on track. From flexible payment plans to Offers in Compromise to help cut your total balance, there are several options. In extreme cases, you may be able to request penalty relief or a temporary hardship pause.
Tax problems won’t fix themselves, but they are fixable. The most important thing you can do now is take action. Call our tax professionals at RWB Tax Service today at 770-456-9980 to discuss your next steps after receiving a letter from Georgia DOR or the IRS. We’ll help you explore your tax relief options so you can move forward with confidence.
If you live in Georgia and are self-employed or earn income outside of a regular paycheck, you’ve probably heard about quarterly estimated taxes, and maybe even find yourself unsure of what these taxes mean and how they actually work. Quarterly estimated taxes can sound a bit confusing at first, but essentially, it’s just another way of describing a system for paying your taxes throughout the year instead of all at once. This quarterly tax system helps you avoid surprises (and penalties) when tax season rolls around.
In this helpful guide, the tax experts at RWB Tax Service break down exactly what quarterly estimated taxes are, who this method applies to, how to calculate and pay quarterly taxes, and how to stay proactive to help reduce the dreaded stress that often accompanies tax season.
Quarterly estimated taxes are a way for the IRS to collect small portions of your income throughout the year, instead of all at once when you usually would file your annual tax return. Instead of paying a single lump sum once a year, you make smaller payments four times per year. It’s more of a pay-as-you-go system, similar to how taxes are automatically deducted from the paychecks of salaried or hourly employees each pay period.
However, when you’re self-employed or receive untaxed income, you’re the one responsible for calculating and paying your required quarterly estimated taxes. These payments cover both income tax and, if self-employed, your self-employment tax, which also includes Social Security and Medicare.
Anyone making money who doesn’t have taxes automatically withheld might need to pay quarterly estimated taxes. So, if you’re self-employed, run a side business, or do freelance or contract work, you probably fall into this category. Essentially, if you're not an hourly or salaried employee receiving a paycheck where taxes are automatically withheld, you are solely responsible for payment of quarterly estimated taxes.
Here’s a breakdown of who typically needs to pay quarterly estimated taxes:
If you expect to owe more than $1,000 in tax when you file your return, chances are you’ll need to make quarterly estimated tax payments. However, there are exceptions. If you had no tax liability last year, or your income is low enough, you might not be required to make payments. But for most people with untaxed income streams, ignoring quarterly payments is a fast track to penalties.
Now that you’ve figured out you should be paying quarterly estimated taxes, you may be wondering how much you should pay. Although calculating taxes can initially feel overwhelming or impossible, the process can be broken down into small steps. Approaching it this way can help make figuring out your taxes feel more manageable and less stressful.
This is the building block that lays the foundation of your tax plan. Having a realistic estimate of your annual earnings is the very first step toward understanding how much you should pay in quarterly estimated taxes.
For freelancers or small business owners, this may include looking at previous years and leaving room for growth or slowdowns. If this is your first year, you can base it on contracts already signed or your average monthly income so far. Investors and landlords should also factor in dividends, rental payments, or potential sales.
It doesn’t need to be precise; the goal is to be as accurate as possible, making an educated guess. As the year progresses and you gain a clearer picture, you’ll have the chance to make adjustments accordingly. The main idea here is to estimate close enough that your quarterly estimated tax payments aren’t way off.
Next, look for deductions that can help lower your taxable income. Deductions are extremely helpful. They can include home office expenses (including phone and internet costs and office rental), mileage, supplies, uniforms, and even health insurance premiums, if you’re self-employed. The higher the number of deductions you have results in a lower total amount of taxable income you’ll have to claim.
Credits take it one step further, because they cut directly from the tax you owe. For example, you may qualify for education credits, child tax credits, or green energy incentives. Considering possible qualifying credits in advance will help create a more realistic estimate. This also helps you avoid overpaying the IRS and waiting months for a refund.
Once you’ve got your business tax income and deductions squared away, it’s time to figure out your actual tax liability.
Begin with your taxable income, and then apply the IRS tax brackets to calculate what your federal income tax will be. If you’re self-employed, don’t forget the 15.3% self-employment tax that covers Social Security and Medicare. This tax is easy to overlook, but it makes a big difference in your liability.
After you’ve added the self-employment tax to your taxable income, subtract any credits you qualify for, and this should give you a pretty good idea of how much projected taxes you’ll owe for the year. Helpful tools such as Form 1040-ES or even an online quarterly tax estimator can walk you through the math if it feels overwhelming.
Now that you have a solid idea of what your annual taxes will be, the rest is basic math. Divide your total projected tax amount by four, and this is what your quarterly estimated tax payments will be.
We know life doesn’t always go according to plan. If you find your business earns more during certain months (like a holiday sales spike in November-December) or experiences slow periods, you can adjust your payments as you go.
The IRS is more concerned that you’re paying the correct total amount throughout the year, and less about whether the four payments are split equally. Aiming to make four evenly distributed payments when possible is usually the easiest way to stay on track and avoid last-minute scrambling.
Quarterly taxes aren’t due on the same day every month; the IRS sets dates each year. These are typically around the 15th of the month, and they fall on these dates most years:
If any of these dates fall on a weekend or holiday, the deadline usually gets pushed to the next business day. Be sure to mark these dates on your calendar, because missing deadlines can result in penalty fees.
Paying your quarterly estimated taxes is relatively easy, once you know how much you’ll owe. There are multiple ways to submit your payments:
Whichever method you choose, always keep records of payments made. Having a detailed paper trail with dates, payment amounts, and confirmation numbers makes tax time so much easier and helps if you ever need to prove quarterly tax payments.
The IRS doesn’t take kindly to people who don’t pay their taxes on time. If you fail to send enough throughout the year, they charge hefty interest and penalties. Even if you pay the full amount due when filing in April, you can still get penalized.
There is a small loophole. The “safe harbor” rule says penalties can be avoided if you pay at least 90% of this year’s tax bill or 100% of last year’s (110% if your income was higher). So, even if your income is unpredictable, sticking to these guidelines helps keep you safe.
For example, if you earned $50,000 last year and paid $7,000 in taxes, sending at least $7,000 in estimated payments this year should cover you. If you earn more than expected, you’ll just owe the difference later, without incurring penalties.
Staying on track with your quarterly business taxes is more than simply making on-time payments. It requires building disciplined habits to make the process feel automatic and stress-free.
Here are some tips to help you stay organized and avoid missing deadlines:
The more you plan ahead, the less stress you’ll have to deal with quarterly. If you have any questions (whether it's how to calculate your taxes or which deductions you qualify for), working with a Georgia business tax professional is your best bet. They can help you stay on track and avoid common, costly mistakes.
Quarterly estimated taxes don’t need to be overly complicated; they’re really just a way to break your tax bill into smaller, more manageable payments. If you’re earning income that doesn’t include automatic withholding, it’s your responsibility to make payments to the IRS throughout the year. The key is estimating how much you’ll owe, dividing it into four payments, and not missing payment deadlines.
Yes, it requires discipline. But setting reminders, having a dedicated tax-savings account, and having tax experts at your side help make it a whole lot more manageable. The last thing anyone wants is a massive tax bill with penalties in April. Paying as you go keeps the IRS happy, allowing you to remain cool, calm, and collected as tax season approaches. Contact RWB Tax Service in Villa Rica, Georgia, for help with all your business tax needs—call us today at 770-456-9980 or complete our online contact form to reach us!
Looking for reliable IRS tax help in Villa Rica, GA? We’re here to help! At RWB Tax Service, we provide the guidance and support you need to deal with IRS issues quickly and effectively. From back taxes and audits to payment plans and penalties, our team works to find solutions that ease the stress and get you back on track.
With our experience and personalized approach, we’ll help you understand your options, protect your finances, and resolve IRS problems the right way. Call RWB Tax Service today at 770-456-9980 to schedule your free consultation.
There’s no one-size-fits-all when it comes to tax problems. They come in all shapes and sizes. Some people owe a little. Some owe a lot. Some haven’t filed in years. Others just made a small mistake, and now, they’re starting to get frightening letters. Whatever you’re facing, we have the experience and the tools to help you navigate this confusing process.
Here are just a few IRS issues we help our clients tackle:
Of course, this is just the start. If your tax issue isn’t on this list, don’t worry. Give us a call anyway so we can review your needs and create a customized plan to get you the help you need.
When the IRS comes knocking, it might feel like there’s no way out. It can be overwhelming, but there are real options available to help you breathe a little easier, and we know how to find them. One of the main services we offer is helping individuals figure out which tax relief programs they qualify for. The IRS isn’t likely to tell you about these programs on its own, but that’s where we step in.
Here are some of the most common ones:
The applicability of these options depends on your unique situation, including your income, expenses, assets, and more. That’s why we sit down and gather all details before jumping into any decisions.
The IRS can be difficult to work with. The paperwork, the rules, and the language they use can be intimidating for many. And if you try to go it alone, it can feel like you’re in way over your head. Hiring a Villa Rica IRS tax help professional not only streamlines the process but can also save you money over time.
We know the ins and outs of the system. We know how to talk to the IRS, how to handle the paperwork, and how to find the options that really work. While it’s possible to handle the IRS alone, it can cause undue stress and headaches. Let us help you save your time and your sanity. We’ve helped the people of Villa Rica navigate their way out of tax debt for decades. You don’t have to do it alone.
We’re a full-service tax team with extensive experience in solving IRS problems. Whatever stage you’re in (just got your first letter, deep in the weeds, or somewhere in between), we’re here to help. Our approach is designed to reduce stress, fix the problem, and give you a clear plan going forward. We help clients:
There are many places that advertise IRS tax help in Villa Rica, GA. But there is a reason people in Villa Rica keep coming back to RWB Tax Service when things get complicated with the IRS:
We know dealing with the IRS is about real people facing real stress. That’s why we lead with compassion in everything we do. When you walk into our office (or call us up), you’re not just another case file. You’re someone who deserves respect, honesty, and a clear path forward. No shaming. No lectures. Just friendly, down-to-earth help from people who actually care. We’ll meet you where you’re at and walk with you from there.
Nobody likes surprise fees, and taxes are already confusing enough without a bunch of legal jargon or complicated breakdowns adding to the confusion. We keep things simple. You’ll always know what actions we’re taking, why we’re advocating for that approach, and exactly what it costs. We don’t believe in pushing services you don’t need. Just straight answers, clear numbers, and no nonsense.
We’ve been helping people in Villa Rica for years, and we’ve seen it all. Owe the IRS thousands? Haven’t filed in a decade? Being hit with penalties out of nowhere? Our Villa Rica IRS tax help pros have handled cases just like yours and helped clients come out the other side with a clean slate. Our track record speaks for itself. We know the IRS system inside and out, and we know how to approach tricky situations to pursue the best possible results. When you work with RWB, you can count on proven experience, delivered with heart.
You’re not just hiring someone to fill out forms; you’re getting a team that’s with you from the first notice to the final resolution. We stay in touch, keep you updated, and make sure nothing slips through the cracks. Need to call us with a question? Email us because you’re stressed about a deadline? We’re here and we’re happy to help. We don’t disappear halfway through the process or pass you off to someone else. You get real people, real support, and real results from start to finish.
Whether you’ve recently received a notice in the mail or have been reluctant to address repeated requests from the IRS, you’ve discovered a dedicated resource in the IRS tax help professionals at RWB. We’ll help you assess and understand your IRS letters, create a plan for resolving any tax issues, and pursue the best possible resolution.
If you’re ready to face your tax issues head-on, contact RWB Tax Service today. You don’t need to have all your documents ready. You don’t need to know exactly how much you owe. No matter where you are in the process, we’d be delighted to offer guidance during this stressful time.
Reach out today at 770-456-9980 or stop by our Villa Rica office for friendly and attentive service. You’ll meet with someone who cares, listens, and can provide you with solutions and peace of mind.
FAQs
Ignoring IRS letters is serious. The IRS doesn’t just forget. They’ll keep sending notices, then start adding penalties, and eventually take actions like freezing your bank account, garnishing your wages, or putting a lien on your home. If you receive a notice, the best thing to do is act quickly, even if you don’t have all the answers yet. An IRS tax professional can help you make sense of it and figure out your next steps.
In some extreme cases, yes, they can. Seizure of assets doesn’t happen overnight, and it’s not the first step in the process, but failure to act over an extended period of time can lead to this severe consequence.
Before that kind of action, the IRS is required to send several notices, give you a chance to respond, and follow a very specific legal process. If you ignore those warnings, the government can eventually begin the process of seizing property, including your home or vehicle. If an IRS tax professional gets involved early, we can often preempt escalation by the government. At RWB, we do everything we can to help you protect what’s yours.
Generally, the IRS has up to 10 years from the date a tax is assessed to collect the debt. Within that time, they can employ aggressive tactics to pursue payment. They may offer payment plans, and in some cases, you can negotiate the total amount owed. What’s important is not waiting until the situation escalates. The sooner a professional steps in, the more options you’ll have, and the less stressful it’ll be. Don’t forget that waiting can simply add more financial penalties and allow interest to pile up.
It can, yes. Once we step in, we can often negotiate with the IRS to pause or reduce garnishments while we work on a longer-term solution. If your paycheck is already being garnished, don’t wait another day. We’ll contact the IRS on your behalf and start the process of getting it lifted (or at least reduced) so you can breathe a little easier.
In some cases, yes. It’s called an Offer in Compromise, and it’s an important program that allows qualified taxpayers to settle their debt for less than the full amount. This program is not a “get out of taxes free” card, though, as you have to meet certain criteria to qualify. The IRS takes into account your income, expenses, assets, and ability to pay. An IRS tax help professional will examine your financials, see if you qualify, and handle the paperwork. If you’re not a fit for that program, we’ll find another route that works for you.
If you’re seeking stress-free personal tax prep in Carrollton, GA, you’re in good hands with RWB! At RWB Tax Service, we make tax season simple. Our team takes the guesswork out of filing, helps you avoid costly mistakes, and makes sure you’re getting every deduction and credit you deserve.
From basic W-2 filings to more complex tax scenarios involving investments, self-employment income, or deductions you’re unsure how to handle, we’re here to guide you. Don’t let your taxes cause you stress. Call RWB Tax Service today at (770) 456-9980 and get the peace of mind that comes with having a pro on your side.
We offer personalized tax prep that’s efficient, accurate, and easy to understand. We take the time to get to know your situation so we can file your return the right way and make sure you’re getting the credits and deductions you deserve.
Here are just a few of the personal tax services we provide:
We’re not just about filling out forms. We’re here to provide expert advice and support throughout the whole tax process.
Preparing for your tax appointment doesn’t have to be a headache. Here’s a list of what you should bring to ensure we have everything we need to get your taxes done accurately and efficiently.
Providing your professional tax preparer with all necessary documentation will help them work quickly and ensure we don’t miss anything important. If you’re missing anything, don’t worry. We’ll always help guide you on what’s still needed, but the more information you arrive with, the faster and smoother the process will go!
There are a ton of other Carrollton personal tax prep services out there, so why should you choose us? Here’s why working with us is a choice you won’t regret:
We are experienced tax professionals who have seen it all. We stay current with tax laws, so we’re prepared for any changes or updates that could impact your return. Plus, we take the time to understand your situation. You get personalized attention from seasoned pros who truly care about getting it right.
We believe in 100% transparent pricing, so you know exactly what to expect. There are no hidden fees, no complicated price structures, and no "surprise" charges once your taxes are done. From the moment you walk through our doors, we’ll give you a clear breakdown of what it will cost and make sure you're comfortable before we move forward. That way, there’s no guesswork or stress about the price.
Let’s be honest: the whole reason you’re filing your taxes is to get that refund! We understand how important it is to maximize that refund, and that’s exactly what we work to do. Our team will review every possible deduction, credit, and exemption to make sure we’re squeezing out every last dollar for you. We’ll ensure you get the refund you deserve, and we stand behind our work with a max refund guarantee.
Tax season can be hectic, but that doesn’t mean your filing should take forever. We get that you don’t want to be stuck waiting for weeks to get your return filed or to see that refund. Our Carrollton tax preparer focuses on fast turnarounds without cutting any corners. From the moment you bring us your documents, we work quickly to get everything processed. That means faster refunds and less stress for you. If you need your taxes done in a hurry, we’ll make it happen.
We’ve made our tax prep process as smooth as possible. No one wants to sit through hours of paperwork and confusion, so we’ve broken it down into a few simple steps to get you through it fast. Here’s how it works:
Choosing a local tax preparer in Carrollton comes with a lot of benefits that just can’t be matched by big, national chains. For one, we’re right here in your community, so we understand the local tax laws and the specifics that may apply to you. When you work with us, you’re not just another client; we see you as a neighbor, and we care about making sure your taxes are done right.
You’ll have direct access to the same team each year, meaning you’ll build a relationship with people who truly understand your financial situation. Plus, you can always swing by our office to drop off documents, ask questions, or just have a face-to-face chat when you need help. It’s the kind of personal service and convenience that larger firms can’t always provide.
A lot of tax prep places get busy around April, then disappear once tax season is over. But we’re not like that. We’re here for you all year long, not just during tax season. We can take care of anything from helping with estimated taxes, answering a random question, or even getting things ready for next year.
Life doesn’t stop after April 15th, and neither do we. If you need help outside of the busy season, we encourage you to reach out to us with your questions. We’re here to keep things simple, no matter when you need us.
We receive a lot of questions about personal tax prep from clients in Carrollton! Discover some quick answers to some of the most common questions people have about our tax prep services.
We understand that taxes can be expensive, and you want to know what you're getting into before you sign up. Our prices are straightforward and based on your situation, so you’re only paying for what you need. There are no surprise fees, and we’ll give you an upfront quote once we know what’s involved.
Yes! If you’ve got a side hustle or multiple jobs, we’re ready to help. It can get a little complicated when you’ve got multiple streams of income, but we’ll help you track everything down, make sure you’re not double-taxed, and get everything filed correctly. And if you work in different states, we’ll make sure you’re following the tax rules for each state you’re working in.
The IRS has payment plans and options for folks who can’t pay everything right away, so we’ll help you figure out a plan that works for you. Plus, we’ll go over your return and see if there’s anything we missed that could reduce the amount you owe. It’s common to stress about owing taxes, but we’ve got your back.
That depends on a few factors, like how you file (paper or e-file) and how busy the IRS is. But generally speaking, e-filing is the fastest way to go. You can expect your refund in around 21 days if everything goes smoothly and there are no delays. Of course, if there are any issues, it might take a little longer. We’ll make sure your return gets filed as soon as possible so you can get your refund as quickly as possible.
Yes, we can! If you missed last year’s filing, we can help you catch up. We’ll get everything in order and file your back taxes. There might be some penalties, but we’ll work with you to minimize them and get you back on track. It’s always better to file late than not at all.
Ready to tackle your taxes the easy way? Contact us for personal tax prep in Carrollton, GA, and let RWB Tax Service take it from here. We’ll help you file with confidence, avoid costly mistakes, and get the refund you deserve. Plus, we’re local, experienced, and work fast!
And when you need support with other financial responsibilities in Carrollton, including business taxes, small business bookkeeping, or payroll, we can offer the same expertise that we bring to our personal tax prep services. You can call us at (770) 456-9980, complete our online contact form, or even swing by the office for a chat. Reach out, and let’s make this tax season the easiest one yet!
The 2024 tax season is upon us! Last year, over 162 million taxes were filed in the US. As you prepare to file your 2024 taxes, you must be aware of important dates and upcoming changes to 2024 tax laws. Continue reading to learn more!
There are several important dates for the 2024 tax season, outlined below:
This is the date the IRS Free File opens. IRS Free File is a free filing service offered through the IRS for taxpayers that have an AGI of $79,000 or less. While taxpayers can file returns now, the IRS will not start processing them until a later date.
This is the due date for businesses to submit the quarterly tax payments for quarter four of 2023.
January 26, 2024, is Earned Income Tax Credit awareness day.
This is the official start of the 2024 filing season and the date the IRS will start processing returns.
Employers are required to issue W-2s and 1099 documents by this date. If you have not received these documents, you must contact your company’s HR department or person responsible for these documents to determine where it is and when you’ll receive it.
For those individuals who receive tax documents for other situations (dividends, interest, retirement plan distributions), this is also the due date for those.
Tax law states that the IRS cannot issue Earned Income Tax or Child Tax Credit refunds before mid-February. While most taxpayers can view their expected return date by February 17th, the IRS expects most of these refunds for filers who have completed their returns without errors to hit bank accounts around February 27th.
S corporation and partnership tax returns are due on this date.
This is the tax filing due date for most Americans. This is the last day taxpayers can request an extension or make contributions to HRA, traditional or Roth IRA, or SEP-IRA accounts.
For taxpayers that hold $10,000+ in signature authority for a foreign bank, you must file the appropriate documentation on or by this date.
Due to holidays, this is the tax filing due date for individuals residing in Massachusetts and Maine.
Are you a US citizen or resident alien living abroad? Your 2024 taxes are due on this date. You do have an option to file for an extension due on October 15, 2024.
This is the due date for those filing an extension. Remember, the extension must be filed before the April 15th due date! October 15th is the date the taxes are due.
Preparing to file your 2024 taxes doesn’t have to be stressful! The below tips will make the process run smoothly:
The IRS makes changes to tax laws every single year. Many times, the changes are to reflect and account for inflation. We all know 2023 was a hard year regarding inflation and that will reflect in tax returns this year for many Americans.
For 2023, the tax provision adjustment was 7% (higher than average!). Some people will see smaller tax liabilities because of this. If you’re uncertain if this change to 2024 tax laws will impact your tax return, RWB Tax Service is happy to help! Contact us today to get started.
The IRS predicts the inflation adjustment for taxes filed in 2025 will be around 5.4%. This means tax filers may see tax benefits for the next two years. In fact, there will be tax bracket changes for 2024 taxes that are filed in 2025!
The tax marginal rates are the same for the 2023 tax season, however, they will be updated for taxes filed in 2025. Below is the chart of changes coming:
Married filing jointly taxpayer rate changes:
Single taxpayer rate changes:
With the tax rates changing, there will also be a slight increase in standard deductions for taxes filed in 2025. It’s important to note these changes will not be reflected in taxes filed this 2024 season.
The gift tax exclusion states how much a person can give to another without paying a tax on it. The amount increases to $18,000 in 2024.
The estate tax exclusion determines the threshold for wealthy estates. In 2024, the estates equal or less than $13.9 million will not be required to pay an estate tax.
For taxpayers who contribute to health or flexible spending accounts, there are changes to the amounts you can contribute in 2024.
Taxpayers can contribute up to $4,150 for self coverage and $8,350 for family coverage. There is also the option to carry over $640 into the next year for applicable plans.
The earned income credit will also see increases in 2024. The credit is calculated based on how much someone makes and how many children they have. Taxpayers without children may also qualify for this credit if they fall into the income bracket. The credit will range from $600 to $7,830 (for a taxpayer with three children) in 2024.
The IRS is busiest during tax filing season. So, while you may be tempted to call for an update about your return, we encourage you to take other actions. You can use online tools or contact us to determine when your refund will be issued.
Most refunds are processed and deposited within 21 days of filing. Some exceptions apply (see above’s important dates). Tax returns with errors must be manually processed, which will delay your refund. RWB Tax Services helps individuals and businesses with filing tax returns so they avoid delays. Contact us today to get started!
Here are a few additional tips to prepare for the 2024 tax season:
Do you not get the refund you expect each year? You may want to check your withholdings! This can save you time and money in the long run. It’s essential to remember to adjust your withholding after any major life event, like the birth of a child, a marriage or divorce, or an adoption.
Tax time means you need a lot of documents from the previous years. These may include:
Are you ready to file your 2023 taxes? Do you want to relieve the stress of doing it by working with a tax professional? RWB Tax Service has a team of tax experts to help with your personal and business returns. Call us today at 770-456-9980 or stop by the office to get started!
The start of a new year has everyone scrambling to prepare for the 2023 tax season. You can get a head start on the tax season by reading the following sections. We’ll outline important changes to filing 2023 taxes and vital updates you must be aware of. Keep reading for more details!
This is the first day that you can file 2023 taxes. The IRS will not process submissions until a later date.
This is the final day you can pay estimated quarterly taxes for 2022.
The IRS free file is live with submission acceptance and processing for electronic returns for the 2023 tax season. The IRS recommends using electronic filing for faster returns. Paper returns will start processing in February.
All employees should have a W-2 from their employers by February 1. Contractors should also have received 1099s by this date. If you have not received these documents by mail or electronically on this date, you need to contact the company’s HR department or the company you contracted for.
Some people also receive 1099s for dividends, interest, and retirement plan distributions. This date is the deadline for those, too.
Filers who claimed ACTC or EITC credits for the 2023 tax season can expect their refunds to be released. Refunds will start to be sent and are expected to hit bank accounts within 8-10 days. This is due to the PATH Act and the requirement that the IRS holds refunds for these credits until this date.
People filing S Corporation or partnership tax returns must complete them by this date.
This is the last day you can file 2023 taxes. The normal filing date, April 15, falls on a weekend date. April 18, 2023, is the last day you can request an extension. If you are making contributions to an HRA, traditional or Roth IRA, or SEP-IRAs, today is the last day to do so.
Taxpayers who have over $10,000 in signature authority for foreign bank accounts must file the appropriate documents by this date.
US citizens and resident aliens living abroad must file 2023 taxes by this date. Or they can file for an extension until October.
Approved extensions will be due October 18, 2023. You must file and get approval for an extension before the April 18 due date.
Gathering the necessary information to file 2023 taxes can seem overwhelming. But it doesn’t have to be if you follow these tips:
There have been quite a few changes to the tax law for the 2023 tax season. Read more about each below:
The standard deduction has changed for the 2023 tax season due to cost of living adjustments. The following are the new deduction amounts:
The mileage rates are divided into two time frames, January to June 2022 and July to December 2022. The rates are as follows:
The rate for charitable mileage remains 14 cents per mile.
401K and IRA contribution amounts also increased for the 2023 tax season. The new amounts are:
The child tax credit is reduced for the 2023 tax season. It is going back to the pre-2021 rate of $2,000 per child under 17 years of age. The maximum refundable portion of this credit is $1,500.
Social security payback for those under the full retirement age is $19,560. The cost of living for social security benefits increased by 5.9%.
Dependent care benefits are also reduced for the 2023 tax season. It is $3,000 per qualifying dependent and is non-refundable. It is based on adjusted gross income and falls between 20% and 35%.
To qualify for the earned income tax credit as a single taxpayer, they must not be a dependent or have any dependents. They must now be between the ages of 25 and 65 (previously, it was 19-65) with income below $16,480.
The tax law no longer forgives the amount of the premium credit for health insurance that must be repaid. You must make adjustments to your income throughout the year to reflect the correct premium credit, so you do not have to repay a portion of it.
The IRS is incredibly busy during tax season. In 2021, they processed more than 261 billion tax returns and collected more than $4.1T in taxes. With numbers like these, you can see why patience is important when waiting for your refund.
You may be tempted to call the IRS to receive an update, but we encourage you to check your status online or connect with us, and we can get you an update. Millions of people contacting the IRS make processing times even longer.
Most refunds are processed and submitted to taxpayers within 21 days when filing electronically and choosing direct deposit as your payment option. Taxpayers filing by mail or selecting another payment method can expect longer wait times.
The IRS is required by law to hold refunds for the earned income tax credit and the additional child tax credit until mid-February. This is under the PATH Act to prevent fraudulent returns. Taxpayers claiming these credits can still file electronically starting in mid-January.
Some returns require manual processing, which delays when returns are delivered. This could be due to a system alert, incorrect information, or missing information. To avoid these kinds of delays, you can work with a professional (like RWB Tax Services) to ensure you file 2023 taxes correctly!
You want to be as prepared as possible when you file 2023 taxes. This makes the process run smoothly. Here are a few tips:
If you generally owe money for taxes, it might be a good time to check your withholding information. This can save you a lot of money in the long run. If you have any major life changes, such as the birth of a child or a second job, it is also a good idea to assess and change your withholding.
Not sure how to determine your withholding? Check out the IRS’s tax withholding estimator to help guide your decision.
There are a lot of documents you need to file 2023 taxes. It’s best to collect them and organize them as you receive them, so they are not lost. If you receive electronic documents, we recommend you print them and save them on your computer.
It’s vital you wait to file the 2023 taxes until you have all the required documents. These include:
Do you want to relieve the stress of worrying about the 2023 tax season? Working with RWB Tax Services will give you the peace of mind you need.
With more than 50 years of combined experience, our tax professionals have helped clients for more than 13 years. We’ve helped clients receive the largest tax returns possible across Georgia.
You can trust us to complete your taxes within the deadlines and with 100% accuracy. Our prices are reasonable. We can help you avoid costly mistakes and prevent penalties in the thousands of dollars in Georgia. Call us today to set up an appointment to discuss the 2023 tax season at 770-459-9980. Or you can contact us with this form.
2020 is finally over, but now a new challenge lies ahead - filing your 2020 taxes. Thanks to COVID-19, many things have changed for the 2021 tax season. Let's take a look at the important updates for this tax season:
Here are the critical dates listed by the IRS that taxpayers should remember for the 2021 tax season:
Let's get into the details so you can be confident when filing your taxes this year.
Deductions and credits help you keep more of your money. Tax deductions help reduce how much of your income is taxed for federal income taxes. Tax credits reduce your actual tax bill.
Here are some deductions and credits you may be able to claim on your 2020 tax return:
If you are self-employed, there are many deductions you can claim on your taxes, such as travel costs and the home office deduction if you use an office in your house for business.
The CARES Act permits taxpayers to subtract up to 100% of their adjusted gross income (AGI) in charitable donations if they plan to itemize their deductions. The CARES Act also added a new standard deduction that makes it possible to write off up to $300 of charitable contributions made in cash.
Families may be able to claim up to $2,000 per child with this credit. And because this is a refundable credit, you could receive up to $1,400 per child as a refund.
The EITC is a refundable credit implemented to help low- and middle-income workers. Depending on your earnings for the year, how many dependents you have, and your filing status, this credit could save you between a few hundred to a few thousand dollars on your taxes.
You can deduct medical expenses above 7.5% of your AGI (adjusted gross income), which is your total income minus any other deductions you have already taken.
There are many other deductions and credits that could save you money ave you money depending on your circumstances! If you don't want to miss these savings, work with a tax prep advisor at RWB who can make sure you're not leaving out any credits or deductions.
Let's dive into the basics for the 2021 tax season updates concerning COVID-19.
Many taxpayers found themselves out of work due to the pandemic and received unemployment benefits for support. Those who collected unemployment benefits will need to pay income taxes on those funds.
If you chose not to have taxes taken from your unemployment when you signed up, you will either have to pay quarterly taxes or set aside enough money from your unemployment benefits to pay your taxes.
During the 2020 pandemic, the government sent $1,200 stimulus checks to millions of Americans (plus up to $600 per child). Your stimulus check will not be taxed. Instead, it's being counted as a refundable tax credit for 2020.
The CARES Act also offered small business owners Paycheck Protection Program (PPP) loans. These loans are "forgivable" if they were spent on certain business expenses. However, the IRS says that any expenses you paid with money from those PPP loans cannot be deducted from your taxable income.
Any money taken out of an Educational Savings Account (ESA) or a 529 Plan must be used for educational expenses to be considered tax-free. Many universities went virtual or canceled classes this year—which means your university might have refunded your ESA or 529 money. If so, you had 60 days to put the money back in the account OR use it to cover other educational costs. If you didn't do this, you might have to pay the taxes and a withdrawal penalty.
There were several changes to retirement plans in 2020—and those changes could affect your taxes this year.
If you did take funds out of a 401K or traditional IRA, you have three years to put that money back and get refunded for taxes paid on those funds. Reach out to a professional who can walk you through the process. If you need help, give us a call at 770-456-9980.
Working with a tax professional is a smart choice, especially with all of these new chances to save money on your 2020 tax return. If you're looking for a trustworthy tax pro near you, look no further. Our tax experts have many years of experience and can help you file your tax refund with confidence. Call us at 770-456-9980, or fill out the form to schedule an appointment today!
No, the stimulus money will not count as taxable income. It's being counted as a refundable tax credit for 2020. (Your stimulus check is almost like an advance on funds you would have received as part of your tax refund in 2021.)
Yes, the unemployment benefits you collected in 2020 will count as taxable income on your tax return. If you chose not to have taxes withheld from your unemployment payments, then you'll have to pay quarterly taxes on it.
Did you deliver groceries with Instacart or drive for Uber? The money you made doing odd jobs or freelancing will be taxed, so here's a summary of what you need to know:
The home office tax deduction is only allowed for freelancers, independent contractors, or self-employed people who have a home office used solely for regular business. Unfortunately, that means workers sent home by their employers throughout COVID-19 don't get this deduction since they don't only work from home.
The Trump administration permitted companies to suspend payroll taxes from September 1, 2020, through December 31, 2020. So, if you work for the government or at a company that chose to defer payroll taxes, you saw a temporary increase in your paychecks. Unfortunately, this is not a tax break—those taxes will still need to be paid. That means your employer will have to take those extra taxes out of your paycheck between January and April 2021, so you'll have a decreased paycheck during that time.
This 2021 tax season could get messy for many Americans who have seen their lives changed by this pandemic. If you're one of them, it is a good idea to contact a tax advisor who is updated on the news and developments for this tax season in 2021.
If you want to ensure your taxes are done correctly and avoid making substantial tax errors that could cost you thousands of dollars, our Georgia tax professionals are ready to help! Give us a call today at 770-459-9980.
2021 has ended, but a new challenge awaits: paying your 2021 taxes. Due to many new tax laws and tax credits, numerous things have changed for the 2022 tax season. Let's look at the most significant tax season updates for 2022.
Don't hesitate to contact us if you need help or have any questions, or click the button below to make an appointment with a seasoned tax pro in Villa Rica.
Here are the critical dates listed by the IRS that taxpayers should remember for the 2022 tax season:
From January 1 to May 17, 2021, the IRS phone systems received more than 145 million calls, more than four times the number of calls received in a typical year, due to COVID-era tax reforms and larger epidemic difficulties.
Before contacting the IRS, customers are encouraged to check online resources. You can also call RWB Tax Services in Villa Rica, GA, for help.
The average tax refund was more than $2,800 last year. More than 160 million individual tax returns are projected to be filed for the 2021 tax year, the great majority of which will be done before the typical April tax deadline.
In general, the IRS expects most taxpayers to get their refund within 21 days of filing electronically if they choose direct deposit and their tax return is error-free. The Internal Revenue Service (IRS) encourages individuals and tax professionals to file online to speed up the return process. People should avoid filing paper returns whenever feasible to prevent processing delays.
The IRS is prohibited from issuing refunds for the Additional Child Tax Credit or the Earned Income Tax Credit before the middle of February. However, qualified taxpayers may submit their forms beginning on January 24. This extra period is provided by the law to assist the IRS in preventing false refunds from being distributed.
If the IRS systems identify a possible error or missing information, or there is suspected identity theft or fraud, some returns may require manual examination, which slows processing. Some of these circumstances require communication with taxpayers, while others do not. Because this activity involves special handling by an IRS employee, the IRS may take longer than the standard 21 days to process returns with errors. That is why it is critical to hire an experienced, local tax professional like RWB Tax Services in Villa Rica, GA, who knows all of the recent tax law changes and can make sure your return is error-free for the fastest return possible.
Before filing your taxes this year, here are a few things that you should be aware of:
For monetary donations made to qualifying organizations in 2021, taxpayers who do not itemize deductions may be eligible for up to a $600 deduction for married taxpayers filing joint returns and up to $300 for all other filers.
Families who got advance payments will need to compare the amount of the child tax credit they will be able to claim on their 2022 tax return with the amount of the child tax credit they received in 2021.
On their 2021 tax return, taxpayers who got less than the maximum amount of their child tax credit will claim a credit for the leftover balance.
Qualified families who did not get advance payments in 2021 may still receive a lump-sum payment by submitting a 2021 federal income tax return and claiming the child tax credit. This includes families that don't usually file a tax return and families with no income.
The IRS will issue Letter 6419, detailing the total amount of advance child tax credit payments that filers received in 2021. You should keep this letter and any previous IRS letters concerning advance child tax credit payments with your tax records. Individuals can also see their child tax credit payment amounts by creating or logging into an IRS.gov online account.
Based on their 2021 tax information, individuals who did not qualify for the third economic impact payment or did not get the entire amount may be eligible for the recovery rebate credit. However, they'll need to submit a 2021 tax return to claim the credit, even if they didn't have any income for 2021.
When filing their tax return, individuals will need the amount of their final economic impact payment, as well as any plus-up payments, to determine their exact 2021 recovery rebate amount owed.
The IRS will send Letter 6475 in early 2022, including the exact amount of the third economic impact payment and plus-up payments received. Individuals can also securely access their economic impact payment amounts by creating or logging into an IRS.gov online account.
The IRS recommends that taxpayers take the following steps to avoid processing delays and expedite refunds:
Tax documents that are organized make it easier to prepare a correct tax return. It assists you in avoiding errors that cause processing delays, which slow down your return, and it may also help you locate previously overlooked deductions or credits.
Wait to file until you have all of your tax records, which may include the following:
Address changes should be reported to the IRS, and legal name changes should be reported to the Social Security Administration.
Remember that most income is taxable. This includes:
If you owed taxes or received a substantial refund last year, you may want to modify your withholding. Changing your withholding can save you money on taxes and allow you to retain more money each payday. In addition, changes in life, such as marriage or divorce, the birth of a child, or the addition of a second job, may necessitate a change in withholding.
Use the Tax Withholding Estimator to determine how much tax should be withheld from your paycheck. If you need to alter your withholding and submit a new Form W-4 to your employer, use this tool on IRS.gov.
Our team at RWB Tax Services has over 50 years of combined experience. For over 13 years, they've helped clients in Villa Rica, Douglasville, Carrollton, and West Georgia get the largest tax refunds legally.
You can trust RWB Tax Services to complete your taxes correctly, on time, and at a reasonable cost. We can help you avoid costly tax mistakes in Georgia so you can prevent thousands of dollars in tax penalties. Don't hesitate to reach out to us by calling 770-456-9980 today.
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