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.

SBA PPP Loan Paperwork
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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…
How to Abate an IRS penalty
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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…
taxpayer reviewing IRS audit
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IRS Audits with IRS’ New Hired Revenue Agents: How to Prepare

Attorney reviews options for handling back taxes
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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…
IRS Audit Letter
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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,” the IRS Audit Attorneys here at Milikowsky Tax Law focus on the actual response to Internal Revenue Service (IRS). Watch the video below to learn more…
Bank Deposits
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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…
Tax Calculation
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How to Respond to an IRS Audit in 2022 Part 1

IRS Letter 6323 and What to Do Before Contacting IRS Small business owners should be prepared in case the Internal Revenue Service decides to audit your business. Watch part one of our three part series for advice on how to defend your business…
Criminal Tax Investigation

Have You Been the Target of a Criminal Tax Investigation?

Common Types of Federal Tax Crimes  The law enforcement branch of the IRS is the IRS Criminal Investigation Division (CID). If you are under investigation for possible tax crimes, then you could be facing serious penalties, including criminal…
Before responding to an IRS audit letter, first identify the following five things: the taxpayer, revenue agent, tax years audited, triggering issue(s), and the deadline.
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IRS Audits Explained for Small Business Owners

As a small business owner, you may be wondering what the process is for an IRS audit. An IRS audit is when IRS reviews your tax return to ensure that you have reported your income and expenses correctly. The founder of Milikowsky Tax Law,…
Happy satisfied bartender
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How Far Back Can EDD Audit Your Small Business?

Employment Development Department (EDD) performs many services, but their primary role that impacts small businesses is collecting and auditing payroll taxes. Employers pay payroll taxes for W-2 employees, but not for 1099 independent contractors.  The…
Can IRS summons your bank records
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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…
follow our five steps to make sure your business is ready for an IRS audit
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Five Signs Your Small Business is Prepared for an IRS Audit

Internal Revenue Service (IRS) will flag businesses for an audit when the agency finds suspicious activity in your business’ tax returns. The suspicious activity may be innocent in nature, but IRS performs an audit to ensure your business…