The IRS has just released its’ adjusted mileage rates for the second half of tax year 2011. These rates will be in effect for all clients returns this coming January. Be aware, taxpayers always have the option of calculating and using actual expenses for their vehicle, but typically the mileage rates offer taxpayers the most benefit.
| Purpose | Rates 1/1 – 6/30/11 |
Rates 7/1 – 12/31/11 |
|---|---|---|
| Business | $0.51 | $0.555 |
| Medical/Moving | $0.19 | $0.235 |
| Charitable | $0.14 | $0.14 |
Tax season is a busy time for everyone involved, but it's especially important for taxpayers…
The Internal Revenue Service (IRS) will be shutting down its Modernized e-File (MeF) system on…
The PTIN portal is officially open for new 2024 PTINs and for PTIN renewals for…
An Individual Taxpayer Identification Number (ITIN) is a nine-digit number issued by the Internal Revenue…
A "tax purpose" for an individual is the reason why they file a tax return…
Undocumented immigrants are often excluded from government benefits, but there are a few tax credits…
This website uses cookies.