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

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…
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IRS Audits and the Impact from the Budget Reconciliation Bill Explained

On Sunday, August 7th of 2022, the Senate passed the Budget Reconciliation Bill, or the Inflation Reduction Act, which includes nearly $80 billion in funding for IRS. More than half of the funding is set for enforcement. IRS aims to collect…
use our small business tax guide to help you this season
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Ultimate Guide to Tax Law for Small Business Owners

What Taxes Does My Small Business Have to Pay? Small business owners may have to pay additional taxes on top of income taxes depending on if you have employees, how you classify your business, and your business expenses.  The various taxes…