January is always a busy month for companies. You’re trying to get business off to a good start in the new year, you’re trying to close the books on last year, and there’s 1099 reporting to complete by month-end. There are several variations of the information returns...
The IRS reminds businesses that the special credit for hiring veterans will expire soon. Companies that hire unemployed military veterans may qualify for a tax credit of up to $5,600 ($9,600 for vets with service-related disabilities). The credit is available for vets...
The IRS has increased the standard mileage rates to be used in computing the deductible costs of operating a vehicle for business or when driving for medical or moving reasons. The new rates will apply to vehicle mileage starting January 1, 2013. The revised rates are...
A law passed in 2008 requires brokers to report an investor’s basis in stocks and mutual fund shares when these investments are sold. The final step in these new reporting requirements was to become effective for debt instruments and options on January 1, 2013. The...
The IRS recently released a consumer alert about possible scams that are taking place in the aftermath of Hurricane Sandy. Many people have been getting fooled by fake charities that are trying to solicit money and personal information. These scams can take many forms...
In a recent press release by the IRS, the service announced exceptions to certain tax rules regarding loans and hardship distributions from retirement plans. If you live in a disaster area or have family or other dependents that live in a disaster area affected by...
