Tax News & Notables

2013

  • Mileage Rage for business 56 cents.
  • IRS continues to delay publication and forms to be used for filing 2012 tax returns.
  • IRS will not be issuing a refund schedule this year, only stating that most tax payers will receive their refunds via direct deposit within 21 days. This change is due to widespread identity theft and fraud.

2012

  • Mileage Rate for business is 55.5 cents. Depreciation factor is 23 cents.

 2011

  • Making Work Pay Credit — has been discontinued
  • Child Tax Credit – Renewed for 2011
  • Mileage Rate for business is 51 cents for Jan-June and 55.5 cents for July-Dec.  Make sure you have mileage totals for each six months.

Tax Sense – Newsletters

Tax Sense January 2013