Internal Revenue Service Announced 2017 Mileage Rates As it does every year, the Internal Revenue Service recently announced the inflation- adjusted 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
An Overview of Trump’s Tax Policies Numerous blog entries have been posted on the issue of what the future holds for individual taxation under President Trump. Many believe that the wealthy will be the beneficiaries of Trump’s tax policies, and some declare that lower-income taxpayers will see tax increases.
Common Tax Penalties Even though most people don’t intentionally incur tax penalties, however, many are penalized because they are not aware of the penalties or the impact they can have on their wallet. Before tax season approaches, here are some of the more commonly encountered penalties and how they may be avoided. Keep in mind […]
Two New Fraud-Prevention Measures from the IRS The first will purposely delay until February 15 the issuance of refunds for tax returns where there is an earned income tax credit (EITC) and/or a refundable child tax credit (CTC), giving the IRS more time to match the income reported on these returns to the income reported […]
