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

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Your Checklist to Prepare for IRS Audits in 2023

What To Do If You Receive an IRS Audit Letter If you receive an audit letter from the Internal Revenue Service (IRS), it can be a stressful and daunting experience. However, there are several things you can do to prepare for the audit and…
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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…
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Where Have All the CPAs Gone?

The United States is currently experiencing a severe shortage of certified public accountants (CPAs) due to a rising trend of accountants leaving their positions at both corporations and audit firms. This trend is coupled with a decline in…
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What Triggers an IRS audit in 2023?

Are you worried about getting audited by the IRS? It can be a daunting prospect, but there are certain things you can pay attention to that might help you avoid an audit or at least be better prepared for one. According to John Milikowsky,…
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The team at Milikowsky Tax Law has successfully appealed numerous Paycheck Protection Program Loan Forgiveness denials and we are ready to help you bring your case to the SBA for consideration. WHAT TO DO IF YOU RECEIVE A LETTER OF DENIAL…
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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…

Your Guide to Missed Tax Deadlines

What happens if you miss a tax deadline? How long does it take before the IRS begins its collection action to collect your tax balance? How many fees will you have to pay? Understanding and managing the nuances of tax law isn't easy. Understanding…
How to prepare an IRS Bank Deposit Analysis
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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…
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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…
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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…