WELCOME TO THE MILIKOWSKY TAX LAW BLOG

Providing actionable insights and valuable information to help you navigate the complexity of tax law for your business.

CA EDD confirms it has resumed tax audits of businesses that targets the 2 million independent contractors in California

Until September 2nd, 2020, CA EDD auditors had put audit cases on hold in order to assist the agency with the unemployment insurance benefits process.  With the onset of the COVID-19 layoffs and the increase in administrative requirements…
, , ,

Do you need an attorney to represent you in an IRS audit?

Being audited by the IRS can be an intimidating experience. You may wonder if you need legal representation to navigate the complexities of the audit. While the IRS auditor may suggest that an attorney is unnecessary, it is your legal right…
Revenue Agent Report - IRS
, ,

How To Read an IRS Revenue Agent Report

If you've been through an IRS audit, you know that one of the most important documents you receive at the end is the Revenue Agent Report (RAR).  Many taxpayers may not know where to start when it comes to reading their Revenue Agent Report.  John…

Upcoming IRS Improvements Tailored for Small Business Owners

The Internal Revenue Service (IRS) is ushering in a wave of improvements designed to empower small business taxpayers. These changes, set to enhance phone service, in-person interactions, and online options, aim to provide seamless assistance…
, , ,

Understanding IRS Lifestyle Audits: What You Need to Know

Income tax returns have always been the cornerstone of financial accountability. But did you know that the IRS has now taken a more comprehensive approach to ensure accuracy? Welcome to the era of lifestyle audits. In this blog, we'll delve…

Can SBA Audit a PPP Loan That is Already Forgiven?

Recently, businesses have experienced an increase in inquiries from the Small Business Administration (SBA) regarding the forgiveness of Paycheck Protection Program (PPP) loans that were previously forgiven. This raises a critical question:…
a rubber stamp sitting on top of a piece of paper next to a keyboard
, , ,

The CPA’s Guide to Helping a Client with an SBA PPP Loan Forgiveness Denial

When the COVID-19 pandemic wreaked havoc on small businesses, the U.S. government stepped in to offer some relief in the form of SBA PPP (Paycheck Protection Program) loans. Those loans were designed to help businesses keep their doors open…

Would you Rather Jump from an Airplane or Be Audited by the IRS?

Fun fact: Our CEO and founder, John Milikowsky, has done both! Let’s see what he thinks. https://youtu.be/XFFyNxZqFHM?feature=shared IRS Audits IRS audits – No kidding, they're not fun, no matter who it is. John notes “When…

Navigating IRS Audits in 2024: 5 Red Flags to Avoid

As tax season rolls around, businesses and individuals alike brace themselves for the meticulous scrutiny of the Internal Revenue Service (IRS). While an audit might seem like a distant worry, there are certain red flags that could significantly…

How to Make Sure Your CPA is Getting the Correct Deductions for Your Business

As tax season approaches, collaborating effectively with your CPA can significantly impact your financial outcomes. Ensuring the accuracy of deductions is paramount. Here's how to oversee and confirm your CPA's tax deduction strategies:

How Long Should Business Owners Keep Their Tax Documents?

As a business owner, you understand the importance of maintaining organized tax records. Not only is it a good practice, but it's also a legal and financial necessity. Your tax documents are the backbone of your financial history, and keeping…

Tax Evasion Penalties 2024

In 2024, understanding tax evasion penalties and their implications is crucial for business owners. With a 90% conviction rate in IRS criminal prosecutions, the stakes are high. Let's explore the nuances of tax evasion, penalties, and their…