Mary Capule, CPA

Mary Capule, CPA No annoying tax professional lingo. Just straight, authoritative and friendly expert advice. Mary Capule, CPA has been offering accounting services since 1999.

Located in Ashland, Virginia, we do personal tax returns, business tax returns, Trust tax returns, accounting, bookkeeping, and payroll. The firm provides quality, personalized service to local individuals and businesses, focusing on individual and small business tax and accounting services. The firm's goal is to assure that every client receives the close analysis and attention they deserve. Dedication to high standards, personalized services and work ethic are some of the reasons the client base returns year after year.

Time Sensitive information
05/16/2026

Time Sensitive information

want to make sure taxpayers are aware of an important and time-sensitive issue that could affect tens of millions of people: the Kwong decision and its potential to unlock significant COVID-era refunds.

Under the court’s reasoning in Kwong v. United States, many filing and payment deadlines during the COVID-19 disaster period (January 20, 2020 – July 10, 2023) may have been postponed. If that interpretation ultimately holds, penalties and interest assessed during that time may have been improper—and taxpayers may be entitled to refunds. However, this relief is not automatic and most taxpayers must act by July 10, 2026 to protect their rights.

In the National Taxpayer Advocate's recent three-part blog series, she walks through what this means and what taxpayers can do:
🔹 Part I: alerts taxpayers of the Kwong decision and why this issue is significant, tens of millions of taxpayers may be eligible for refunds, but many risk missing out simply because they are unaware of the potential benefits.
🔹 Part II: provides practical guidance on how to review IRS account transcripts to identify whether penalties or interest were assessed during the COVID period and whether a refund claim may be appropriate.
🔹 Part III: outlines what to do, including how to file formal or protective refund claims, key deadlines, and common mistakes to avoid.

And taxpayers who did not file, made overpayments of tax, or didn’t claim eligible refundable credits in 2019, 2020, 2021, or 2022 may still be able to file tax returns for those years to recover their overpayments or claim their credits.

This is fundamentally a taxpayer rights issue. Without awareness and timely action, many taxpayers—especially those without representation—could lose out on potential refunds they may be entitled to receive and to ensure fair treatment of all taxpayers.

Our goal is simple: to get the word out so taxpayers have a fair opportunity to protect their rights while this issue is pending.

Businesses close for various reasons. Perhaps you’re ready to embark on a welcome change, such as retirement or launchin...
07/09/2025

Businesses close for various reasons. Perhaps you’re ready to embark on a welcome change, such as retirement or launching a new venture. Or maybe it just no longer makes financial sense to continue operating your current business. Whatever the reason, closing your business is a significant milestone, and part of wrapping things up means taking care of a few tax responsibilities. Learn more and read the latest from Mary Capule, CPA here:

Businesses close for various reasons. Perhaps you’re ready to embark on a welcome change, such as retirement or launching a new venture. Or maybe it just no longer makes financial sense to continue operating your current business. Whatever the reason, closing your business is a significant milesto...

Don’t let the name “nanny tax” fool you. It’s a tax that applies to the wages of a variety of types of household help yo...
07/09/2025

Don’t let the name “nanny tax” fool you. It’s a tax that applies to the wages of a variety of types of household help you hire, such as a nanny, gardener, or housekeeper. Hiring extra help can ease the burden of home-related tasks, especially in the summer when the kids are home or the garden needs attention. Unless the worker is an independent contractor, you may be liable for federal payroll tax and other taxes (including state tax obligations). Learn more and read the latest from Mary Capule, CPA here:

Don’t let the name “nanny tax” fool you. It’s a tax that applies to the wages of a variety of types of household help you hire, such as a nanny, gardener or housekeeper. Hiring extra help can ease the burden of home-related tasks, especially in the summer when the kids are home or the garden...

The accounting m**hod your business uses to report income for tax purposes, either cash or accrual, can significantly im...
06/11/2025

The accounting m**hod your business uses to report income for tax purposes, either cash or accrual, can significantly impact your tax bill. While the cash m**hod can offer tax-saving opportunities, the accrual m**hod may in some cases, be more appropriate or even required. So, review your current m**hod to help ensure you’re using the best m**hod for your business. Learn more and read the latest from Mary Capule, CPA here:

The accounting m**hod your business uses to report income for tax purposes, either cash or accrual, can significantly impact your tax bill. While the cash m**hod can offer tax-saving opportunities, the accrual m**hod may in some cases be more appropriate or even required. So review your current m**h

If you’re thinking about helping a child or grandchild pay for school, you’re not alone, and you’re not without help. Wh...
06/11/2025

If you’re thinking about helping a child or grandchild pay for school, you’re not alone, and you’re not without help. While families have always saved for education, Section 529 plans have made it easier and more tax-efficient. Learn more and read the latest from Mary Capule, CPA here:

If you’re thinking about helping a child or grandchild pay for school, you’re not alone, and you’re not without help. While families have always saved for education, Section 529 plans have made it easier and more tax-efficient.

The consequences of misclassifying an employee as an independent contractor can be costly. You could be liable for back ...
05/14/2025

The consequences of misclassifying an employee as an independent contractor can be costly. You could be liable for back taxes (including the employee’s shares of unpaid payroll and income taxes), penalties, and interest. There may also be serious non-tax consequences. Learn more and read the latest from Mary Capule, CPA here:

The consequences of misclassifying an employee as an independent contractor can be costly. You could be liable for back taxes (including the employee’s shares of unpaid payroll and income taxes), penalties, and interest. There may also be serious non-tax consequences.

Most people feel some relief after filing their income tax returns each year. But even if you’ve successfully filed your...
05/14/2025

Most people feel some relief after filing their income tax returns each year. But even if you’ve successfully filed your 2024 return, you may still have questions. Here are three common ones.Learn more and read the latest from Mary Capule, CPA here:

Most people feel some relief after filing their income tax returns each year. But even if you’ve successfully filed your 2024 return, you may still have questions. Here are three common ones.

Payroll fraud schemes can be costly. According to a 2024 Association of Certified Fraud Examiners (ACFE) study, the medi...
04/04/2025

Payroll fraud schemes can be costly. According to a 2024 Association of Certified Fraud Examiners (ACFE) study, the median loss generated by payroll fraud incidents is $50,000. It’s essential to know the payroll schemes making the rounds and how to prevent them or at least catch them before they go on very long. Learn more and read the latest from Mary Capule, CPA here:

Payroll fraud schemes can be costly. According to a 2024 Association of Certified Fraud Examiners (ACFE) study, the median loss generated by payroll fraud incidents is $50,000. It’s essential to know the payroll schemes making the rounds and how to prevent them or at least catch them before they g...

If you’ve filed your 2024 tax return, you may be eager to do some spring cleaning, starting with tax-related paper and d...
04/04/2025

If you’ve filed your 2024 tax return, you may be eager to do some spring cleaning, starting with tax-related paper and digital clutter. The documentation needed to support a tax return may include receipts, bank and investment account statements, K-1s, W-2s, and 1099s. How long must you save these records? Three years is the general rule. But don’t be hasty: Failure to keep a paper trail for the information reported on a tax return could lead to problems if the IRS audits it. Learn more and read the latest from Mary Capule, CPA here:

If you’ve filed your 2024 tax return, you may be eager to do some spring cleaning, starting with tax-related paper and digital clutter. The documentation needed to support a tax return may include receipts, bank and investment account statements, K-1s, W-2s, and 1099s. How long must you save these...

03/19/2025

Happy Spring, everyone! Mary Capule CPA LLC is accepting new clients, please understand that new clients’ returns will be put on extension. Thank you.

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106 Sunny Drive
Ashland, VA
23005

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