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.

IRS audit
,

What is an IRS Audit and How Does it Work?

An IRS audit is a review of your tax return to ensure that you have accurately reported your income, expenses, and other tax-related information.
Business women using magnifying to review financial summary report

Will There Be More IRS Audits This Year?

 As the tax season approaches, many Americans are wondering what changes they can expect from the IRS, especially given the recent funding allocated to the agency through the Inflation Reduction Act. This bill, passed by Senate Democrats…
woman holding a passbook
, ,

Should You File Delinquent Returns If You Can’t Afford to Pay?

One common question that clients often ask is whether they should file their delinquent tax returns if they can't afford to pay the taxes owed. The answer is always yes. It is better to file your tax return and work out a payment plan with…
magnifying glass on top of paperworks
, , ,

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…
cpa helping some clients
,

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…
man doing IRS audit
, ,

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,…
Paycheck protection program
,

SBA PPP LOAN FORGIVENESS DENIAL APPEALS

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…
how far back irs
, , ,

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
, , ,

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…