Receiving a denial letter for the Employee Retention Credit (ERC) from the IRS can be stressful, but taking immediate and strategic action can help minimize potential financial consequences.
Here are the steps you should follow to address the situation effectively.…
In 2021, a new anti-money laundering law introduced the Beneficial Ownership Information (BOI) Requirement, mandating certain companies to disclose information about their ownership and control to the Financial Crimes Enforcement Network (FinCEN).
John Milikowsky, Founder of Milikowsky Tax Law, weighs…
When Mykel R., founder of Create the Lab, found himself facing an EDD audit, he quickly realized that the process was more complex than he initially thought. The stakes were high, and it was clear that expert help was needed.…
Create the Lab, an event and film production studio in Hawthorne, California, was audited by the California Employment Development Department (EDD), founder Mykel feared a significant financial blow. But with the expert guidance of Milikowsky Tax Law, the experience turned…
Facing an audit from the California Employment Development Department (EDD) can be daunting for any business owner, especially when it involves potential 1099 worker misclassifications. The process is complex, the stakes are high, and the regulations are difficult to navigate…
The 2024 1099 filing deadline is January 31, 2025. Preparing and submitting these forms accurately is not just about compliance—it’s about safeguarding your business from significant penalties and potential audits.
Understanding who needs to file, what transactions are reportable, and…
The 2024 1099 filing deadline is fast approaching—are you ready? Filing 1099s can feel overwhelming, but understanding the process and key requirements can save you from costly penalties.
Below, we break down three critical steps to ensure your forms are…
Dealing with an IRS letter can be stressful, but understanding the process and responding appropriately can help resolve the issue quickly. Let’s break down how to handle a correspondence audit, one of the most common types of IRS audits, step…
The Internal Revenue Service (IRS) is stepping up its enforcement game, setting its sights on specific taxpayer groups with a renewed focus on combating tax evasion and generating additional revenue for the U.S. government. But according to IRS Commissioner Danny…
Preparing for an IRS audit can be a daunting task, but with the right strategies and tools, you can navigate the process smoothly and confidently. As we approach 2025, it’s important to stay ahead of potential changes in tax regulations…
