Category Archives: News

IRS Releases Standard Mileage Rates for 2012

The IRS recently released the 2012 standard mileage rates below: -55.5 cents per mile for business miles driven -23 cents per mile driven for medical or moving purposes -14 cents per mile driven in service of charitable organizations -EAE

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IRS Issues Adjusted Mileage Rates For Second Half of 2011

The IRS recently issued adjusted mileage rates for the second half of 2011 (effective 7-1-11) due to rising gas costs earlier in the year. The new rates are as follows: Business vehicle usage:  55.5¢ per mile Medical vehicle usage:  23.5¢ … Continue reading

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IRS Will Begin Processing Returns Impacted by 2010 Tax Changes on February 14, 2011

The delay in filing the 2010 Form 1040 for many individuals previously mentioned by the IRS will be over on February 14, 2011. The delay impacts filers who will itemize on Schedule A or claim above-the-line deductions for higher education … Continue reading

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IRS Releases 2011 Standard Mileage Rates

The IRS recently released the 2011 standard mileage rates below: -51 cents per mile for business miles driven -19 cents per mile driven for medical or moving purposes -14 cents per mile driven in service of charitable organizations -EAE

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2010 Proposed Bush Era Tax Cut Extensions Update

The senate has overwhelmingly passed the bill to extend the Bush era tax cuts. The house HAS NOT but it continues to appear they are likely to pass it—-but not without significant added earmarks. A vote is still expected this … Continue reading

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2010 Taxpayers Get An Extra Three Days To File

The deadline for 2010 tax returns is April 18, 2011 due to a government holiday.  Emancipation Day is a legal holiday in the District of Columbia and falls on April 15, 2011, therefore taxpayers have until April 18, 2011 to … Continue reading

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Proposed Extension of Bush Era Tax Cuts

As reported by the Wall Street Journal in this morning’s paper below is a brief synopsis of the proposed tax cuts in the tax bill currently being decided on by Congress: All taxpayers (1)  Two-year extension of current tax rates … Continue reading

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Idea of the Week #5

Please be aware of emails from EFTPS! There have been many emails sent out appearing to be from EFTPS.gov regarding online tax payments. In reality these emails contain viruses that can harm you computer and compromise sensitive information such as … Continue reading

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CIRCULAR 230 DISCLAIMER: ADVICE, ARTICLES AND COMMENTARY INCLUDED HEREIN DO NOT CONSTITUTE AN OPINION AND ARE NOT INTENDED OR WRITTEN TO BE USED, AND THEY CANNOT BE USED, BY ANY TAXPAYER FOR THE PURPOSE OF AVOIDING PENALTIES THAT MAY BE IMPOSED ON THE TAXPAYER.