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

Business and tax law

The Coronavirus Impact on Tax Law

The full scope of the coronavirus impact on tax law (and all other areas of business in the US and around the globe) has yet to be determined, but we can already see some of its major effects on tax laws in the United States. Just a few months…
COVID-19

Unemployment Claims Spike: So May EDD Audits

Unemployment claims are in the millions as a result of the coronavirus epidemic and the ensuing quarantine and lockdown. Small businesses are being deeply impacted by the downturn and many are having to lay off over half their workforce. Since…
Unemployemnt Benefits for Business Owners

Coronavirus: Business Owners Can File for Unemployment

As the greater impact of coronavirus COVID-19 continues to worsen, it is important to stay up-to-date with the potential repercussions as a business owner. This year’s tax filing deadlines have been extended to July 15th which will offer…
IRS Delays Tax Payments

IRS Extends Deadline to Pay [and File as of 3/18] Taxes to July 15, 2020

This article was edited on 3/18 to reflect the update from IRS that businesses now have an extension not only pay but also to file taxes. IRS Extends deadline to PAY AND FILE taxes to July 15 for most individuals and businesses. The…
handcuffs and mullet

How IRS Criminal Investigations Start

IRS Criminal Investigations, How They Begin and Why IRS Criminal investigations begin with a suspicion of fraud and violations of: Internal Revenue Code Bank Secrecy Act Money laundering statutes ...Among others. When IRS determines there…
International business

New Requirements For IRS Form 5472 (for Foreign Shareholders & Corporations)

Perception of the requirements for IRS Form 5472 for foreign businesses are influenced by the globalization of the economy. In the tech world we currently live in, the internet has almost eliminated country boundaries and has allowed foreign…
Bernie Minton Testimonial

Precision & Attention to Detail Are The Hallmarks of Milikowsky Tax Law

John's level of precision and attention to detail is unmatched. At Milikowsky Tax Law, we partner with CPA firms to provide the highest level of service and support to their clients in case of IRS Audit, EDD investigation or other tax controversy…
FBI Agent IRS Criminal Investigation

What to Do if You Are Contacted by IRS Criminal or FBI

If an IRS agent shows up at your door what should you do? When IRS or FBI conduct a criminal investigation into a company's taxes they often show up unannounced at that company's place of business or, at the home of the company's controlling…
Ride Share Drivers Are among those who will be impacted by AB-5

AB-5’s Potential Impact

The Potential Consequences of AB-5: The potential impact of AB-5 on workers, employers, and consumers may be far reaching. The US Government requires all employers to verify that employees are eligible to work in the United States. …
calculating

AB-5 Exemptions: Not So Fast!

CA AB-5 Exemptions: Not So fast! California Assembly Bill 5 (AB5) has built in exemptions for many businesses.  We say "Not So Fast"! Even exempted industries have to adhere to the OLD criteria for classifying 1099 contractors. …
Man using a calculator
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Can Your 1099’s Open You up to an Edd Audit?

If you have multiple 1099s you could find yourself a target of an audit or investigation by California EDD. Businesses with multiple 1099s may have inadvertently opened themselves up to EDD audit or investigation.  AB_5, the "Gig Work…
man on phone going over statement

Business Tax Rates – What You Will Pay

What You will pay in Corporate or Business Tax Rates is calculated on your company’s profits. Depending on your business entity type your business taxes are due at different times and can be charged at different rates.  Partnerships and…