Author Articles
Audit, tax, and advisory resources from our team.
Some performers, musicians, and creators hire entertainment royalty audit services for assistance in verifying whether the royalties they receive from their respective labels, publishers, distributors, and digital services are accurate, complete, and fair. This audits contracts, royalty statements, their respective streams, licensing data, and payment practices to make sure there is no underpayment.
Music and entertainment royalty audit specialists help artists, songwriters, producers, and rights holders verify that their royalty payments are accurate and complete. These specialists analyze contracts, royalty statements, streaming data, licensing reports, and payment histories to detect underpayments and ensure all earned revenue is properly reported.
If you are an S Corporation shareholder, you might need to accomplish IRS Form 7203. As of 2021, this form appears for the first time and focuses on the calculating and reporting of stock and debt basis. This activity completes the report on loss claiming, distributions, and loans reporting. This is necessary in complying with IRS rules. Understanding Form 7203 is vital for small business owners, tax professionals, and shareholders who prepare their own tax returns.
The IRS continues to help to relieve the financial burden of education costs in today’s world. Borrowing money for college and getting higher education has caused educational costs to go up. Seeing all the numbers add up can be overwhelming and can discourage furthering one’s education. The concern to further education can disappear with the introduction of the Lifetime Learning Credit LLC which helps relieve the burden of college tuition.
When the IRS accepts a tax return and issues a tax refund, the taxpayer almost always is interested in when they can expect the money. Most tax refunds happen within an incredibly short time frame, however, IRS refund time frames and the methods by which a taxpayer will receive the funds can be a little complicated.
When that audit closes with results you disagree with, you're facing a critical decision point. Most taxpayers either accept unfavorable findings or attempt to navigate the appeals maze alone. Both approaches cost money - one through unnecessary tax payments, the other through procedural mistakes that weaken your case.
If you have ever found yourself asking, “What is a project audit?” or how it compares to a project evaluation, you are not . These two terms naturally get confused—but they serve distinct purposes and present different insights into a project's life and results.
One firm we reviewed recently overpaid $7,100 in taxes simply because they were afraid to claim legitimate expenses like home office costs and business meals. Whether due to uncertainty or poor documentation, missing deductions costs small businesses thousands. This guide covers the 2025 deduction rules—including the 67 cents/mile rate and the "ordinary and necessary" standard—to help you maximize write-offs without triggering an IRS audit.
Thinking of handling your IRS audit yourself to save money? Stop. We’ve seen taxpayers save $3,000 in fees only to lose $15,000 in assessments because they volunteered damaging information or failed to prove their deductions. True representation means a credentialed CPA stands between you and the IRS, handling all communication, strategy, and negotiations.
The IRS doesn't randomly select returns; they use sophisticated algorithms to spot red flags like income discrepancies, Schedule C losses, and disproportionate deductions. At Dimov Audit, we’ve found that most examinations are preventable if you understand these triggers before filing. With IRS enforcement funding increasing in 2025, learning how the "Discriminant Function System" scores your return is critical to avoiding an audit notice.
Fiscal auditing is the formal review of an organization’s financial records and internal controls to ensure accuracy and regulatory compliance. Vital for accountability across nonprofit, private, and public sectors, these audits verify transactions over a specific fiscal year. This article defines fiscal audits, distinguishes them from financial audits, examines federal oversight (including the Bureau of Fiscal Services), and outlines preparation strategies.
In the housing sector, an audit refers to a systematic review of financial records, tenant eligibility, rent calculations, and compliance with federal and local housing regulations. These audits ensure that public and subsidized housing programs operate with transparency, accountability, and proper use of funds. Housing audits are essential for organizations that receive federal assistance, such as funding from the U.S. Department of Housing and Urban Development (HUD).
