LATEST NEWS & UpDATES
The CARES Act liberalizes net operating losses
The Coronavirus Aid, Relief, and Economic Security (CARES) Act eliminates some of the tax-revenue-generating provisions included in a previous tax law. Here’s a look at how the rules for claiming certain tax losses have been modified to...
COVID-19: IRS announces more relief and details
In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being. To help with the impact facing many people, the government has provided a range of relief. Here are some new...
Relief from not making employment tax deposits due to COVID-19 tax credits
The IRS has issued guidance providing relief from failure to make employment tax deposits for employers that are entitled to the refundable tax credits provided under two laws passed in response to the coronavirus (COVID-19) pandemic. The...
Cash payments and tax relief for individuals in new law
A new law signed by President Trump on March 27 provides a variety of tax and financial relief measures to help Americans during the coronavirus (COVID-19) pandemic. This article explains some of the tax relief for individuals in the...
Answers to questions about the CARES Act employee retention tax credit
The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention...
The new COVID-19 law provides businesses with more relief
On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic...
How the Treasury Department is Taking Action
WHAT TREASURY IS DOING The Treasury Department is supporting American workers and businesses who are impacted by the coronavirus. In February, Secretary Mnuchin was appointed to the President’s Coronavirus Task Force, where he meets daily...
CARES Act and What It Means For You
Now and again, our country can show up forcefully isolated; separated by ages, by left and right, by our disparities, and even by the political parties. Once in a while, conditions emerge that force us to either ascend as one or be...
HHR Corona Virus Procedures
In response to our present state of crisis, I felt the need to communicate with you regarding our method of operations for the near future. For us, the restrictions that are now in place pose some added difficulties with them occurring...
Consulting & Support Services
Holcombe, Holtzclaw & Ravan LLC offers a range of business support services to meet the diverse needs of our clients in Spartanburg, SC who own and manage businesses. We have four QuickBooks Pro Advisors on staff, all ready and able to help.
Professional Tax & Accounting Services
Accounting Resources
We have listed a few accounting and tax websites that you will find helpful and informative.