TAX NEWS - March 2009

Examination and Review Process - State of Georgia tax

LATE PAYMENT OF TAX OR TAX UNDERPAYMENT

If you made your tax payment after the due date or underpaid the tax due, the Department will assess penalty and/or interest on the late or underpaid amount.
 

LATE RETURN OR FAILURE TO FILE TAX

If you file your return after the return due date or fail to file your return, the Department will assess penalty from the due date of the return until the return has been received. If tax is due with the return, additional interest and/or penalty will be assessed on the late tax amount.
 

INITIAL EXAMINATION

The Department of Revenue examines each tax return for accuracy. If errors or discrepancies are found, the Department will issue a notice indicating the nature of the error and any applicable tax, penalty, and interest.
 

BAD CHECK

If payment of a liability is made with a check that is rejected by your financial institution, the Department will issue a BAD CHECK NOTICE indicating tax, penalty, interest, and applicable bad check fees. The Department will make two attempts to cash a check before issuing a notice.
 

AUDIT

The Department audits returns each year. If an audit results in an additional tax liability, the Department will issue a NOTICE OF PROPOSED ASSESSMENT indicating tax, penalty, interest, and reason for the adjustment.