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.

How to Get Audited by EDD
No one WANTS to get audited - and certainly no one is looking for advice on how to trigger an audit by EDD. So why is this blog called How to Get Audited by EDD? Because the surest way to get audited is to make the mistakes covered in the…

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…

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…

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…

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:

IRS Wants to Look at Your Bank Account
Bank accounts serve as a tool for personal and private finances. In the past, bank accounts were not typically investigated or monitored by the Internal Revenue Service (IRS) unless a taxpayer experienced an audit. However, following a proposal…

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…

SBA PPP Loan Default: How to resolve collections by the US Treasury [VIDEO]
The SBA Paycheck Protection Program (PPP) offered a financial lifeline during uncertain times. However, as we shift from application to forgiveness, some business owners are facing challenges with non-forgiven loans and ensuing collections.…