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 and managing the nuances of tax law isn’t easy. Whether you have failed to file your tax
If you recently received a letter from IRS, there are a few important steps you need to take to protect yourself.
While IRS will occasionally audit businesses randomly, they usually audit an individual or business because your tax return contains an error or a transaction that is inconsistent with other businesses in your industry. Our San Diego IRS attorney explains
An IRS Audit can be a complex process. Understanding the IRS audit and the different stages of an audit can help make the process less daunting.
If you receive a letter from the IRS that indicates you’re under audit, there will be a process you’ll go through. Let’s review one of the important elements of what you can expect.
How to ANALYZE an IRS Revenue Agent Report
Every IRS audit concludes with a Revenue Agent Report which includes all the findings the IRS made based upon the documents and information collected, and the determination IRS has made.
An IRS audit starts with a initial audit letter sent to the taxpaye (in the case of our clients, the business owner).
The bank deposit analysis is essential to every single IRS audit.
A bank deposit analysis is where the IRS will analyze, all the deposits coming into a bank account that you own, either personal or business, and determine whether those deposits are taxable or non-taxable income.
As you can imagine, if you’re depositing cash, it’s hard to tell the
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 more audits? How will audits change?
In this article, we’ll break down what the Inflation Reduction Act is, where the money is going,
There are a lot of different types of penalties IRS can assess. Let’s start with the failure to file.
Typically, it’s a firm deadline and when you have to file a return. If you don’t file an extension and your return is late, or you do file the extension and your return is late, you’ll get a notice from the
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 on your door doesn’t help your situation—it just makes it more stressful. If you
As a result of the COVID-19 pandemic, many IRS revenue agents are retiring. This, coupled with the influx of newly hired revenue agents (coming with the expansion of the IRS budget from the Inflation Reduction Act), leads to one significant result for business owners:
If you are audited by IRS, you are likely to be audited by a new revenue
If you are the target of a criminal investigation or if you suspect that you may be under internal investigation, you must speak with a skilled San Diego tax attorney at Milikowsky Tax Law.
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
