FAQ

The following are Frequently Asked Questions (FAQ) regarding accounting, auditing, tax and consulting services:

Audit & Accounting related questions:

What communication should occur between the audit committee/board of an organization and its auditor?

What is the difference between compilation, review and audit services?

Tax related questions:

Tax questions related to individual taxpayers:

How are same sex couples treated under the Internal Revenue Code?

          What are 403(b) tax sheltered annuity plans and how do they work?

          What are the payment alternatives when I owe the IRS?

          What is AMT and when does it affect an individual taxpayer?

          What is an RMD and how does it work?

What is the NIIT and how does it work?

What should be considered about an extension of time to file a tax return?

What should I know about virtual currency transactions?

Tax questions related to nonprofit organizations:

          How do I read Form 990 and what does it mean?

          What is Form 990 and what are the filing requirements?

          What is Form 990-T and when is it necessary to be filed?

          What is unrelated Business Income (UBI) and what is its effect?

          What are 403(b) tax sheltered annuity plans and how do they work?

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Roy & Associates, PC serves clients in western Pennsylvania located predominantly in Westmoreland County, Allegheny County, and Fayette County.

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