Entries by Amanda Rogers

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How to Analyze an IRS Revenue Agent Report

An IRS Revenue Agent Report (RAR) is a document prepared by a revenue agent, which is a type of IRS employee who is trained to audit tax returns and determine the accuracy of the information provided.  If you are the subject of an IRS audit and receive an RAR, it is important to carefully analyze […]

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How to prepare an IRS Bank Deposit Analysis

The bank deposit analysis is essential to every single IRS audit.  An IRS Bank Deposit Analysis is a tool used by the Internal Revenue Service (IRS) to help determine whether an individual or business has accurately reported their income on their tax returns. Preparing an IRS Bank Deposit Analysis involves gathering and organizing financial records, […]

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What To Do During an IRS Audit

If you recently received a letter from IRS, there are a few important steps you need to take to protect yourself. The first step is to contact a qualified IRS Tax Lawyer. While IRS will occasionally audit businesses randomly, they usually audit an individual or business because your tax return contains an error or a […]

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Tax Implications of the Inflation Reduction Act

In August 2022, Senate Democrats passed the Inflation Reduction Act, which allocates nearly $80 billion to the International Revenue Service (IRS) and leaves business owners asking: What are the tax implications of this bill? Will there be more audits? How will audits change? In this article, we’ll break down what the Inflation Reduction Act is, […]

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SBA PPP Loan Forgiveness Denial: The Ultimate Guide

The Small Business Administration (SBA) has forgiven over 98% of the total Paycheck Protection Program (PPP) loan value that borrowers requested them to forgive; recently, however, SBA has begun to issue more forgiveness PPP loan forgiveness denials. Many of these recent denials issued by the SBA are not consistent with their own guidelines. Borrowers have […]

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How to Abate an IRS Penalty 

There are a lot of different types of penalties IRS can assess. Let’s start with the failure to file.  Typically, it’s a firm deadline and when you have to file a return. If you don’t file an extension and your return is late, or you do file the extension and your return is late, you’ll […]