WELCOME TO THE MILIKOWSKY TAX LAW BLOG

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

Man holding Cash

How People Are Spending Their Stimulus Checks

By now, many people have received the $1,200 check allocated to tax-paying individuals as a part of the coronavirus relief package that was passed by Congress in March. Despite the initial excitement expressed by many Americans, the shifting…
A notepad on a laptop

Are you Prepared for Tax Increases?

How will the government bounce back from the COVID-19 debt? Taxes!  Wondering how the country will bounce back from the debt incurred during COVID-19? Reducing this debt will likely come with challenges, which includes a greater burden…
Close up lawyer businessman working or reading lawbook in office workplace for consultant lawyer concept.

Tax Residency Relief Comes to Those in Need

Tax relief is on the way for people and businesses whose tax residence was affected by border closures, canceled flights, shelter-in-place orders, and other travel disruptions caused by COVID-19. This relief will affect those who are not…
SBA PPP Audit Criteria
,

IRS Actively Seeking SBA PPP Criminal Fraud

What criteria will the SBA use to flag loan recipients for audit?  The IRS has formed a Fraud Enforcement Department specifically to root out fraud and criminal activity around the SBA PPP loan funds. The IRS Fraud Enforcement Department…
stock market

What Do Stimulus Packages Look Like Around The World?

2019 was an exceptionally strong year for the U.S. economy — the Dow Jones consistently hit record highs and unemployment rates dropped to a record low of just 2.1%. However, even a record-breaking year like that one could not prepare the…
Going over plans

3 Reporting Issues To Watch Out For During COVID-19

It is nearly impossible to see a future without the residual effect of the COVID-19 outbreak, as the economy continues to respond to rapid changes in consumer behavior and supply chain operations. Travel bans have been imposed on millions…
Time For Your Year End Review

More Time Granted to Reinvest and Receive a Tax-break

  Investors Receive an Extension and a Tax Break Due to COVID-19 The IRS has recently announced its plan to give investors more time and a tax break due to the effects of Coronavirus. The original deadline to reinvest into a qualified…
Woman reading a paper

Unemployment Rates Fall as Economy Pushes to Reopen

Economy is Headed in the Right Direction After the May job reports were released, the numbers showed the Coronavirus pandemic certainly hurt the economy, but not as heavily as predictions forecasted. Though unemployment has risen significantly…
New York City and Cash

What You Need to Know About Stimulus Check Scams

Before you get too excited about another wave of stimulus checks Billions of dollars in payments have been sent out in the form of stimulus checks. Over the last few weeks, there has been speculation that there may be another wave of stimulus…
Apple computer with trend lines

Small Changes to You Tax Procedures Can Make a Big Difference for Your Bottom Line

Every leader of any organization understands the importance of hiring the right people, but the employees who manage your organization’s compliance management and technological resources are among the most important in today’s economy.  The…
Business meeting

How to Measure Value for Long-Term Growth

In order to put an organization in the best possible situation, leaders should anchor their approach to long-term value.  Changing market conditions caused by shifting consumer demands and developing regulations have had an impact on nearly…
SBA PPP Audit Criteria
,

SBA PPP Loan Audit Criteria

What criteria will the SBA use to flag loan recipients for audit?  Now that business owners have received their funding from the SBA Payroll Protection Program (PPP), the government is beginning the process of vetting the hundreds of thousands…