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California Taxpayers Beware: Common IRS Penalties and How to Avoid Them Tax season is here and in full swing. For many San Francisco business owners and taxpayers, navigating the complexities of taxes can be intimidating. And it can be especially daunting knowing the Internal Revenue Service (IRS) is keeping a close eye on your compliance....

Beyond Benjamins: Unraveling the Mysteries of Form 8300 It’s tax season and if you’re a San Francisco business owner, this time of year can be hectic as you compile your paperwork and prepare to file all the correct forms with the Internal Revenue Service (IRS). One of the forms that many business owners are confused...

Can the IRS Audit an International Business We live in a global society and in today’s economy, businesses are increasingly expanding their operations beyond domestic borders. This offers fantastic opportunities to companies. But it also means there are legal and tax issues that business owners may face. As a San Francisco tax attorney, one question...

How to Handle Lost Documents in an IRS Audit Facing an IRS audit can be scary. I always advise clients to first, do not panic if you receive a notice of audit. Second, start compiling all the necessary records to prepare, such as financial statements to prepare your audit response. That being said, some San...

Did You Receive One of 20,000 Disallowance Letters from the IRS? In a recent blog post, I informed business owners that the IRS announced how businesses can withdraw their Employee Retention Credit (ERC) claims. The ERC has been at the center of growing concerns about aggressive marketing tactics and potential scams surrounding the ERC claims....

IRS Offers Voluntary Classification Settlement Program to Employers Being a business owner is much more than simply making sure your business run. It also includes hiring employees, making sure they’re classified correctly and paying payroll taxes. Occasionally, a business may classify its workers as independent contractors when they should have been designated as employees. The...

IRS Announces How Businesses Can Withdraw Their Employee Retention Credit Claims Since the start of the COVID-19 pandemic, the Internal Revenue Services (IRS) has been providing various tax credits and incentives to help struggling businesses and individuals. One of those initiatives was the Employee Retention Credit (ERC), a tax credit aimed at helping businesses retain...

When to File an IRS Audit Appeal? There is very little that causes more fear for a business owner than the thought of an IRS tax audit. That being said, generally, most small business owners will face an audit at some point or another. And an audit is not as scary as it seems, especially...

Can the IRS Audit a Dissolved Business? I’m often asked by business owners whether the IRS can audit a business once it’s closed or dissolved. Like with many tax law questions, the answer is: it depends. That being said, there are some rules that apply with IRS audits and how they apply to dissolved businesses. ...

What Records Should I Have Ready for an IRS Audit? Nobody wants to face an IRS audit. But the prospect of an audit is a reality when owning a business. I always advise clients to first, do not panic if you receive a notice of audit. Second, start compiling all the necessary records to prepare....