Holly Roundtree CPA
2019 – 09/03
The U.S. Tax Court ruled that a solar equipment manufacturer is required to use the accrual method of accounting. The court ruled that...
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Holly Roundtree CPA
2019 – 09/03
A married couple was unable to show that an IRS levy was invalid. The U.S. tax code allows the IRS to collect taxes by levy upon property...
Holly Roundtree CPA
2019 – 08/30
The IRS has provided the domestic asset/liability percentages and domestic investment yields needed by foreign insurance companies to...
Holly Roundtree CPA
2019 – 08/30
If an individual files a “frivolous” tax return, the IRS can assess a $5,000 penalty. In one case, a taxpayer submitted a frivolous tax...
Holly Roundtree CPA
2019 – 08/30
Be prepared for a disaster. With Hurricane Dorian approaching the East Coast of the United States, it’s a good time to make sure to...
Holly Roundtree CPA
2019 – 08/29
Are you starting a new business? That can be both rewarding and overwhelming. The IRS has issued some tax tips to help you get off to a...
Holly Roundtree CPA
2019 – 08/29
An IRS software project to safeguard data is making mixed progress, said a recent Treasury Inspector General for Tax Administration...
Holly Roundtree CPA
2019 – 08/29
Many small U.S. businesses elect to organize as S corporations for tax purposes. Owners of qualified businesses must first submit a...
Holly Roundtree CPA
2019 – 08/28
Another court case shows how important it is to properly document qualification for real estate activity loss deductions. Generally, a...
Holly Roundtree CPA
2019 – 08/28
The IRS has updated its lists of countries with nonresident alien interest reporting requirements. The two lists are of countries with...
Holly Roundtree CPA
2019 – 08/27
The IRS has published the latest data regarding individual income tax returns filed through July 25, 2019, for the 2018 tax year. The...
Holly Roundtree CPA
2019 – 08/27
The 9th U.S. Circuit Court of Appeals has affirmed a U.S. Tax Court decision holding that a husband and wife couldn’t challenge their...
Holly Roundtree CPA
2019 – 08/26
Attention employers! You may be able to reduce the tax you owe with a valuable credit. It’s called the employer credit for family and...
Holly Roundtree CPA
2019 – 08/26
The IRS wants to make taxpayers aware of its private debt collection agency (PCA) program. Certain outstanding tax debts may be sent to a...
Holly Roundtree CPA
2019 – 08/23
The IRS announced it has detected a new phishing scam involving unsolicited emails from IRS imposters. Subject lines on the phony emails...
Holly Roundtree CPA
2019 – 08/23
Proposed IRS regulations are out on personal use of employer-provided vehicles. If an employer provides an employee with a vehicle for...
Holly Roundtree CPA
2019 – 08/22
The IRS is providing temporary relief for some delinquent taxpayers who were going to lose their passports. Earlier in August, the IRS...
Holly Roundtree CPA
2019 – 08/22
The Congressional Budget Office (CBO) recently published a report titled “The Distribution of Household Income, 2016.” According to the...
Holly Roundtree CPA
2019 – 08/22
The U.S. Tax Court has ruled that a street vendor wasn’t entitled to an earned income tax credit (EITC) because she couldn’t prove that...
Holly Roundtree CPA
2019 – 08/21
Taxpayers who have certain foreign financial accounts must report them on their tax returns. They may also have to file a “Report of...
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