Holly Roundtree CPAAug 20, 20191 min2019 – 08/12A 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. ...
Holly Roundtree CPAAug 20, 20191 min2019 – 08/13 – “Innocent spouses” may get relief from tax liabilityWhen a married couple files a joint tax return, each spouse is liable for the full amount of tax on the couple’s combined income. Therefo...
Holly Roundtree CPAAug 19, 20191 min2019 – 08/12Does your business provide company cars to owners and key employees? This perk provides substantial valuable benefits for those provided w...
Holly Roundtree CPAAug 19, 20191 min2019 – 08/12Attention, businesses: The U.S. General Services Administration has posted the domestic per diem rate table for fiscal year 2019 on its w...
Holly Roundtree CPAAug 19, 20191 min2019 – 08/12 – What to do if your business receives a “no-match” letterIn recent months, many businesses and employers have received “no-match” letters from the Social Security Administration (SSA). These let...
Holly Roundtree CPAAug 16, 20191 min2019 – 08/09The U.S. Tax Court has upheld the IRS’s revocation of a group’s tax-exempt status. Although the organization did distribute some assets t...
Holly Roundtree CPAAug 16, 20191 min2019 – 08/09A taxpayer loses on several fronts. The IRS audited a taxpayer and determined that he owed capital gains tax on the sale of a constructio...
Holly Roundtree CPAAug 16, 20191 min2019 – 08/09Owe 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 passpo...
Holly Roundtree CPAAug 15, 20191 min2019 – 08/08A Treasury Inspector General for Tax Administration (TIGTA) audit criticizes the IRS for failing to improve amended tax return review pro...
Holly Roundtree CPAAug 15, 20191 min2019 – 08/08More disaster victims in Missouri qualify for tax relief. On its website, the IRS announced that victims of severe storms, tornadoes and ...
Holly Roundtree CPAAug 15, 20191 min2019 – 08/08Can 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 CPAAug 14, 20191 min2019 – 08/07The 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 CPAAug 14, 20191 min2019 – 08/07The IRS has launched the Tax Withholding Estimator, a new online tool that replaces the IRS Withholding Calculator. According to the IRS,...
Holly Roundtree CPAAug 14, 20191 min2019 – 08/06In a Private Letter Ruling, the IRS has held that a long-term care (LTC) insurance policy with a death benefit qualified under the “long-...
Holly Roundtree CPAAug 13, 20191 min2019 – 08/06A 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 CPAAug 13, 20191 min2019 – 08/05Unusual changes to reported income may draw unwanted IRS attention. In one case, a psychic counselor reported substantial wage income ove...
Holly Roundtree CPAAug 13, 20191 min2019 – 08/06 – The tax implications of being a winnerIf you’re lucky enough to be a winner at gambling or the lottery, congratulations! But be aware there are tax consequences. You must repo...
Holly Roundtree CPAAug 12, 20191 min2019 – 08/05Who can deduct car expenses on a tax return? Business owners and self-employed persons who use their cars for business may be able to ded...
Holly Roundtree CPAAug 12, 20191 min2019 – 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 CPAAug 12, 20191 min2019 – 08/05 – The IRS is targeting business transactions in bitcoin and other virtual cMore businesses are accepting bitcoin and other virtual currency payments, and the IRS is taking notice. The agency just announced it is ...
