The Internal Revenue Service has issued the 2017 optional standard mileage rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, standard mileage rates for the use of a car
Category: Tax Update
2017 Tax Season
Tax Season Start Date The IRS announced that the 2017 tax season begins on January 23, but taxpayers claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) for 2016 will not have their refund issued…..
Important Dates Coming Up
Deadlines for Tax Filing Individual Returns Individuals that opted for an extension is October 17th, 2016
Tax Deadline – 2015 Tax Returns Are Due April 18, 2016
Tax Deadline Most 2015 individual income tax returns will actually be due on Monday, April 18, 2016 (rather than Friday, April 15, 2016). This due date is for taxpayers filing federal individual income tax returns with a tax year ending on December 31. You
IRS IP PIN Tool Suspended
Security The IRS has suspended the online tool used to retrieve Identity Protection (IP) PINs, a six-digit number needed by victims of tax refund fraud to file their taxes electronically, after reports that the system suffered the same security weakness that
Delayed IRS Tax Processing
The Internal Revenue Service tax-processing systems have suffered a hardware failure and tax processing could be affected into Thursday. “The IRS experienced a hardware failure this afternoon affecting a number of tax processing systems, which are currently unavailable,” said the
IRS Error – Wrong Tax Year on IP PIN Letters
Taxpayers are receiving letters with the wrong tax year listed for their Identity Protection Personal Identification Numbers(IP PIN) , which are generally issued to victims of tax-related identity theft.
California Head of Household Filing
New FTB Form 3532 Starting this year, 2015 tax return, the California Franchise Tax Board is requiring form FTB 3532, Head of Household Filing Status Schedule to be completed and attached to the tax return if you claim the status.
Protecting Americans from Tax Hikes (PATH) Act of 2015 – Tax Extenders
President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (“PATH Act”) on December 18, 2015, after both houses of Congress voted to approve the budget measure and comprehensive spending bill. The PATH Act extends a number of important
October 15th Tax Filing Deadline
October 15th Deadline Final deadline to file individual tax returns (with extension). (Forms 1040, 1040A, 1040EZ.) Last day the IRS will accept an electronically filed tax return for the year 2014. If filing after October 15th, you’ll need to mail