How to ANALYZE an IRS Revenue Agent Report Every IRS audit concludes with a Revenue Agent Report which includes all the findings the IRS made based upon the documents and information collected, and the determination IRS has made. An IRS audit starts with a initial audit letter sent to the… [Read more]
How to prepare an IRS Bank Deposit Analysis
The bank deposit analysis is essential to every single IRS audit. A bank deposit analysis is where the IRS will analyze, all the deposits coming into a bank account that you own, either personal or business, and determine whether those deposits are taxable or non-taxable income. As you can… [Read more]
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… [Read more]
Your Options for Handling Back Taxes
Many people don’t know the options that are available to them when dealing with back taxes and the IRS. Back taxes are a nightmare for anyone that owes the IRS money without the means of paying it. If you are already in debt, the IRS banging on your door doesn’t… [Read more]
Have You Been the Target of a Criminal Investigation?
If you are the target of a criminal investigation or if you suspect that you may be under internal investigation, you must speak with a skilled San Diego tax attorney at Milikowsky Tax Law. Common Types of Federal Tax Crimes The law enforcement branch of the IRS is the IRS… [Read more]
Can IRS Summon Your Bank Records?
The Internal Revenue Service (IRS) has the power to investigate the finances of a taxpayer if they believe the taxpayer is withholding assets. One tool IRS uses to do this is a bank summons, which is a legal document that requires your bank to provide your bank statements, account balance,… [Read more]
CSLB Site Sweeps and EDD Audits
CSLB site sweeps and EDD audits can cost business owners delays, fines, stop-work orders and even potential jail time. In 2019 and 2020, CSLB’s Statewide Investigative Fraud Team (SWIFT) responded to 855 leads, conducted 52 sting operations and 216 sweep days. These efforts led to the issuance of 260 Notices… [Read more]
5 Misconceptions of Independent Contractors
New classification guidelines between W-2 employees and 1099 independent contractors place stricter rules for businesses looking to hire. Common misconceptions about independent contractors can lead to businesses misclassifying workers and paying high penalties and fines. Avoid these consequences by understanding the regulations your business must follow when hiring independent contractors. Let’s… [Read more]
How to Respond to an IRS Audit in 2022: Part 3
In the final part of our three-part series “how to respond to an IRS audit in 2022,” we’re focusing on the actual response to Internal Revenue Service (IRS). Watch the video below to learn more from Milikowsky Tax Law’s Founder and Managing Attorney, John Milikowsky, as he explains how to… [Read more]
How to Respond to an IRS Audit in 2022 Part 2
IRS Letter 6323 and Bank Deposit Analysis In part two of our three-part series “how to respond to an IRS Audit in 2022” we discuss IRS letter 6323 and the bank deposit analysis. For every audit IRS opens, they conduct a bank deposit analysis to determine whether you correctly reported… [Read more]
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