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Until September 2nd, 2020, CA EDD auditors had put audit cases on hold in order to assist the agency with the unemployment insurance benefits process.  With the onset of the COVID-19 layoffs and the increase in administrative requirements that brought, California EDD did not have enough manpower to complete and process the millions of UI claims.

The Internal Revenue Service (IRS) is ushering in a wave of improvements designed to empower small business taxpayers. These changes, set to enhance phone service, in-person interactions, and online options, aim to provide seamless assistance tailored to the unique needs of small businesses.

Let’s take a look.

The Catalyst: Inflation Reduction Act (IRA)

The driving

Recently, businesses have experienced an increase in inquiries from the Small Business Administration (SBA) regarding the forgiveness of Paycheck Protection Program (PPP) loans that were previously forgiven. This raises a critical question: Can the SBA go back and retract forgiveness on a PPP loan that is already forgiven?

The answer: Yes, the SBA has the

As tax season rolls around, businesses and individuals alike brace themselves for the meticulous scrutiny of the Internal Revenue Service (IRS). While an audit might seem like a distant worry, there are certain red flags that could significantly increase your chances of catching the IRS’s attention. Let’s delve into five of these potential triggers that

As tax season approaches, collaborating effectively with your CPA can significantly impact your financial outcomes. Ensuring the accuracy of deductions is paramount. Here’s how to oversee and confirm your CPA’s tax deduction strategies:

1. Open Communication:

Establish a clear line of communication with your CPA. Express your financial goals and inquire about their approach to