A10093, Middle Class Tax Relief, introduced in New York on April 29, 2022, provides tax relief by removing overtime pay and tips from AGI. Overtime is working beyond 40 hours per week and likely means hourly workers rather than salaried ones. While the intent might be good if aiming to help people who are seeking jobs with overtime to earn
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,” we’re focusing on the actual response to Internal Revenue Service (IRS).
Watch the video below to learn more from Milikowsky Tax Law’s Founder and Managing Attorney, John Milikowsky, as he explains how to craft the right response.
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More Highlights from the 2022 Georgetown EO Conference
This is the third and last post we’ll publish on Georgetown Law’s 39th Annual Representing and Managing Tax-Exempt Organizations Conference featuring highlights from a number of sessions (mixed in some cases with my own thoughts). You can find our earlier posts here (IRS, Treasury, Capitol Hill) and here (Current Developments).
State AG Offices: Updates & The New Balance of IRS
Nonprofit Tweets of the Week – 5/20/22
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week.
Notable Events of the Week:
- “How America Lost One Million People … THE MAGNITUDE OF THE country’s loss is nearly impossible to grasp. … It is the result of many factors, including elected officials who played down the threat
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 to determine whether you correctly reported your income on your income tax return.
Watch John Milikowsky
Alternatives to Starting a Nonprofit
Many well-intended individuals who want to work on addressing public, social, and environmental needs think about starting a charitable nonprofit. Founding and leading a nonprofit may be viewed as a badge of significance and honor. But before moving forward, founders of a charitable venture should first consider the alternatives.
Similarly, lawyers and bar associations asked to assist in the formation
Why Would Anyone Invest In Crypto Through A Retirement Plan?
I’ll admit I don’t completely understand Cryptocurrencies or “Crypto” for short. And without wanting to sound immodest, I’m not unintelligent or inexperienced in the world of investments or employee benefits, business, or the law. Therefore, I will not try to explain it or how it works in this brief blog articles, there are plenty of other articles you can find
15th Anniversary of the 21st Century Taxation Blog
Today marks the 15th anniversary of my blog. I still try to post at least once per week on a tax policy matter and hope for comments and discussion to promote greater focus on various tax policy issues that exist in our current tax systems and in proposals to make tax changes. I also note where provisions and proposals meet
Nonprofit Tweets of the Week – 5/13/22
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week.
Notable Events of the Week:
- “The explosive leak of a draft Supreme Court opinion that would overturn Roe v. Wade not only focused the nation on the magnitude of the change facing abortion rights, it also signaled the rise of a
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 against a battle with IRS. In this video, our founder and managing attorney, John Milikowsky explains five