IRS Increases Standard Mileage Rates

  Well it is now official – the IRS has announced in Announcement 2011-40 that effective July 1, 2011, mileage rates for those that use the Standard Mileage Rate will now be $0.55 per mile for the rest of the year – 2011.  In addition to the standard mileage...

Expanded Form 1099 Requirement Law Repealed

After much debate and cost to the American public, the expanded Form 1099 law that was enacted in conjunction with the 2010 Small Business Jobs Act and the 2010 Patient Protection and Affordable Care Act was finally repealed by the President on April 14, 2011.  What...

Tax Refunds – How Long Should They Take?

Are you expecting a tax refund from the Internal Revenue Service this year? If you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date the IRS receives your return. If you file your return...

2009 Tax Tip #51 – Know about Penalties

The tax filing deadline is approaching. If you don’t file your return and pay your tax by the due date you may have to pay a penalty. Here are nine things the IRS wants you to know about the two different penalties you may face if you do not pay or file on time. If...

2010 Summertime Tax Tip #2 – Student Jobs

School’s out and many students now have a summer job. Some students may not realize they have to pay taxes on their summer income. Here are the six things the IRS wants everyone to know about income earned while working a summer job. All employees fill out a W-4,...

2010 Summertime Tax Tip #3 – Disaster Prep

Planning what to do in case of a disaster is an important part of being prepared. The Internal Revenue Service encourages taxpayers to safeguard their records. Some simple steps can help taxpayers protect financial and tax records in case of disasters. Listed below...
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