Holly Roundtree CPASep 10, 20191 min2019 – 09/03The U.S. Tax Court ruled that a solar equipment manufacturer is required to use the accrual method of accounting. The court ruled that th...
Holly Roundtree CPASep 9, 20191 min2019 – 09/03A 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 CPASep 9, 20191 min2019 – 08/30The IRS has provided the domestic asset/liability percentages and domestic investment yields needed by foreign insurance companies to com...
Holly Roundtree CPASep 9, 20191 min2019 – 08/30If an individual files a “frivolous” tax return, the IRS can assess a $5,000 penalty. In one case, a taxpayer submitted a frivolous tax r...
Holly Roundtree CPASep 6, 20191 min2019 – 08/30Be prepared for a disaster. With Hurricane Dorian approaching the East Coast of the United States, it’s a good time to make sure to creat...
Holly Roundtree CPASep 6, 20191 min2019 – 08/29Are 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 s...
Holly Roundtree CPASep 6, 20191 min2019 – 08/29An IRS software project to safeguard data is making mixed progress, said a recent Treasury Inspector General for Tax Administration (TIGT...
Holly Roundtree CPASep 5, 20191 min2019 – 08/29Many small U.S. businesses elect to organize as S corporations for tax purposes. Owners of qualified businesses must first submit a compl...
Holly Roundtree CPASep 5, 20191 min2019 – 08/28Another court case shows how important it is to properly document qualification for real estate activity loss deductions. Generally, a lo...
Holly Roundtree CPASep 5, 20191 min2019 – 08/28The IRS has updated its lists of countries with nonresident alien interest reporting requirements. The two lists are of countries with wh...
Holly Roundtree CPASep 4, 20191 min2019 – 08/27The IRS has published the latest data regarding individual income tax returns filed through July 25, 2019, for the 2018 tax year. The dat...
Holly Roundtree CPASep 4, 20191 min2019 – 08/27The 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 und...
Holly Roundtree CPASep 3, 20191 min2019 – 08/26Attention employers! You may be able to reduce the tax you owe with a valuable credit. It’s called the employer credit for family and med...
Holly Roundtree CPASep 3, 20191 min2019 – 08/26The 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 CPASep 3, 20191 min2019 – 08/23The IRS announced it has detected a new phishing scam involving unsolicited emails from IRS imposters. Subject lines on the phony emails ...
Holly Roundtree CPAAug 30, 20191 min2019 – 08/23Proposed IRS regulations are out on personal use of employer-provided vehicles. If an employer provides an employee with a vehicle for bu...
Holly Roundtree CPAAug 30, 20191 min2019 – 08/22The IRS is providing temporary relief for some delinquent taxpayers who were going to lose their passports. Earlier in August, the IRS re...
Holly Roundtree CPAAug 30, 20191 min2019 – 08/22The Congressional Budget Office (CBO) recently published a report titled “The Distribution of Household Income, 2016.” According to the C...
Holly Roundtree CPAAug 29, 20191 min2019 – 08/22The 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 s...
Holly Roundtree CPAAug 29, 20191 min2019 – 08/21Taxpayers who have certain foreign financial accounts must report them on their tax returns. They may also have to file a “Report of Fore...
