2013 Standard Mileage Rates
On November 21, 2012, the Internal Revenue Service issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an [...]
AMT Exemption Amounts for the Tax Year 2011
The Alternative Minimum Tax (the “AMT”) attempts to ensure that anyone who benefits from certain tax advantages pays at least a minimum amount of [...]
IRS Announces 2012 Standard Mileage Rates
On December 9, 2011, the Internal Revenue Service issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an [...]
Mortgage Debt Forgiveness Tax Relief: Basic Facts
Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude up [...]
IRS Begins Processing Tax Forms Affected by Late Tax Changes
Today, the IRS announced that it has started processing individual tax returns affected by legislation enacted in December. On Monday, IRS systems began to [...]