Protecting Your Client Relationships. Reducing Exposure. Expanding Value.
As a CPA, you’re often the first line of defense when a client receives an IRS, EDD, CDTFA, or CBP audit notice. While your team is focused on clean financials and accurate
Latest from Milikowsky Tax Law Blog - Page 5
Is Your Business at Risk for a CBP Audit? Key Steps for Importers
Key Steps for Importers businesses are vulnerable to tax audits related to tariff miscalculations and should proactively prepare. To shield against CBP audits, businesses should maintain accurate records, understand tariff classifications, utilize compliance software, and seek professional guidance.
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IRS Audits: Why You Should NOT Cheat on Your Taxes
There’s a common myth that you can cut a few corners on your taxes, fudge the numbers, or take some liberties with deductions, especially if your business isn’t a household name. But here’s the truth: cheating on your taxes is
Improper handling of Incoterms and landed cost accounting
Understanding the Impact of Incoterms on Import Tax Compliance
What Are Incoterms?
Incoterms, or International Commercial Terms, are globally recognized rules published by the International Chamber of Commerce. They define the responsibilities of buyers and sellers in international transactions,
IRS Audits in 2025: Key Issue for Real Estate Owners & Business Investors
If you own real estate or run a business, you might be wondering what IRS audits will look like in 2025. The good news? The IRS isn’t ramping up random audits as much as some had expected. The bad news?
The Business Owner’s Guide to a CBP Audit: What to Expect, How to Prepare, and Why It Matters
If your business imports goods into the United States, you could be subject to a Customs and Border Protection (CBP) audit—even if you’ve never had a shipment flagged or goods held at the port. Unlike an IRS audit, a
California FTB Tax Audit Guide: What You Need to Know
What to Expect When You Receive an FTB Audit Letter
The audit process begins with a contact letter from the Franchise Tax Board. This document includes the auditor’s name, contact information, the tax years being audited, and whether the audit
How IRS Audits Trigger California Tax Audits
IRS Audit Adjustments? You Must Notify California’s FTB—Here’s Why
When the IRS audits your return and makes adjustments that increase your tax liability, that’s not the end of the story—especially if you live in California. State law requires you to
How to Appeal an IRS Audit in 2025: A Step-by-Step Guide
Facing an IRS audit can be daunting, especially when the results aren’t in your favor. If you’ve received an audit determination and want to challenge it, the process of filing an appeal is crucial.
John Milikowsky, Founder of Milikowsky Tax
What to Do if You Receive an IRS Audit Notice in 2025: Essential Steps to Take
If you’ve received an IRS audit notice for 2025, it’s understandable to feel a bit overwhelmed. However, it’s important not to panic. There are key steps you can take to ensure you’re prepared and can handle the situation effectively.
John