Venar Ayar, JD, LLM (Tax)
October 16, 2020 No Comments
An audit reconsideration is used when an audit of a taxpayer’s return assessed additional taxes, or a tax credit was overturned. This allows the taxpayer to have his or her…
Venar Ayar, JD, LLM (Tax)
December 14, 2018 No Comments
IRS Record Keeping Guidelines The Internal Revenue Service generally advises taxpayers to retain copies of all tax returns and any relevant supporting documentation for at least the previous three tax…
Venar Ayar, JD, LLM (Tax)
December 11, 2018 No Comments
Nothing strikes fear into the hearts of an American taxpayer like the word “audit.” But there really is nothing inherently bad about them. An audit is essentially a review and…
Venar Ayar, JD, LLM (Tax)
July 2, 2018 No Comments
The Internal Revenue Service regularly performs tax audits of both corporate taxpayers and individuals. Although tax audits are conducted year-long, they often spike during the few months after the tax…
Venar Ayar, JD, LLM (Tax)
July 2, 2018 No Comments
Since the legalization of medical and recreational marijuana use in several states, owners and operators in the industry have seen a decent amount of financial success in their respective trades.…
Venar Ayar, JD, LLM (Tax)
June 22, 2018 No Comments
We get it. Tax audits can be nerve-racking, to say the least. And while there is a lot of information out there on what is appropriate to do, there isn’t…
Venar Ayar, JD, LLM (Tax)
June 12, 2018 No Comments
Audits (which the IRS calls “examinations”) are the stuff of most taxpayer’s nightmares. When people think of tax audits, they automatically assume that some grey suit wearing IRS agent is…
Venar Ayar, JD, LLM (Tax)
June 7, 2018 No Comments
The IRS generally has three years from the date a return is filed or due to issue a Notice of Deficiency. If this period has expired, the IRS can’t assess…
Making wire transfers is a convenient and fast method of moving funds electronically from one bank account to another. The process generally ensures a recipient’s access to funds within just…
Venar Ayar, JD, LLM (Tax)
February 6, 2018 No Comments
Marijuana dispensaries are five times more likely to face an IRS cash business audit. In 1970, lawmakers approved Section 280E of the Internal Revenue Code as a punitive measure in…
