Holly Roundtree CPA
2019 – 08/12
A second draft of the 2020 Form W-4 is now available. The IRS expects no substantive changes when the form’s final version is published....
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Holly Roundtree CPA
2019 – 08/13 – “Innocent spouses” may get relief from tax liability
When a married couple files a joint tax return, each spouse is liable for the full amount of tax on the couple’s combined income....
Holly Roundtree CPA
2019 – 08/12
Does your business provide company cars to owners and key employees? This perk provides substantial valuable benefits for those provided...
Holly Roundtree CPA
2019 – 08/12
Attention, businesses: The U.S. General Services Administration has posted the domestic per diem rate table for fiscal year 2019 on its...
Holly Roundtree CPA
2019 – 08/12 – What to do if your business receives a “no-match” letter
In recent months, many businesses and employers have received “no-match” letters from the Social Security Administration (SSA). These...
Holly Roundtree CPA
2019 – 08/09
The U.S. Tax Court has upheld the IRS’s revocation of a group’s tax-exempt status. Although the organization did distribute some assets...
Holly Roundtree CPA
2019 – 08/09
A taxpayer loses on several fronts. The IRS audited a taxpayer and determined that he owed capital gains tax on the sale of a...
Holly Roundtree CPA
2019 – 08/09
Owe back taxes? You may not be able to get a passport. The IRS is reminding taxpayers that they may not be able to renew a current...
Holly Roundtree CPA
2019 – 08/08
A Treasury Inspector General for Tax Administration (TIGTA) audit criticizes the IRS for failing to improve amended tax return review...
Holly Roundtree CPA
2019 – 08/08
More disaster victims in Missouri qualify for tax relief. On its website, the IRS announced that victims of severe storms, tornadoes and...
Holly Roundtree CPA
2019 – 08/08
Can a taxpayer be subject to a two-year ban on claiming the earned income credit (EIC), even though she was entitled to it for two of her...
Holly Roundtree CPA
2019 – 08/07
The IRS has done an “about face” and will now enforce a stock-based compensation (SBC) rule. The Large Business and International (LB&I)...
Holly Roundtree CPA
2019 – 08/07
The IRS has launched the Tax Withholding Estimator, a new online tool that replaces the IRS Withholding Calculator. According to the IRS,...
Holly Roundtree CPA
2019 – 08/06
In a Private Letter Ruling, the IRS has held that a long-term care (LTC) insurance policy with a death benefit qualified under the...
Holly Roundtree CPA
2019 – 08/06
A U.S. District Court ruled that an employer was liable for damages because it had sent false information about a worker’s income to the...
Holly Roundtree CPA
2019 – 08/05
Unusual changes to reported income may draw unwanted IRS attention. In one case, a psychic counselor reported substantial wage income...
Holly Roundtree CPA
2019 – 08/06 – The tax implications of being a winner
If you’re lucky enough to be a winner at gambling or the lottery, congratulations! But be aware there are tax consequences. You must...
Holly Roundtree CPA
2019 – 08/05
Who can deduct car expenses on a tax return? Business owners and self-employed persons who use their cars for business may be able to...
Holly Roundtree CPA
2019 – 08/05
“Summer is a season when people have fun, yet get things done,” the IRS said in a recent “Tax Tip.” Now that the standard deduction is so...
Holly Roundtree CPA
2019 – 08/05 – The IRS is targeting business transactions in bitcoin and other virtual c
More businesses are accepting bitcoin and other virtual currency payments, and the IRS is taking notice. The agency just announced it is...
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