Business taxes, Individual taxes
The following numbers apply to 2012 returns: Standard Deduction Single – $5,950 Married filing separately – $5,950 Married filing jointly – $11,900 Head of Household – $8,700 Surviving Spouse – $11,900 Personal Exemption Personal and...
Business taxes, Individual taxes
The IRS has announced that it will start accepting most individual returns on January 30, 2013. That is a little later than usual, due in large part to all of the programming and form changes resulting from the American Taxpayer Relief Act of 2012. Some forms that...
Business taxes, Individual taxes, Interest and Penalties, Tax Debts and Collections
The Internal Revenue Service has announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2013. The rates will be: three (3) percent for overpayments [two (2) percent in the case of a corporation]; three (3) percent for...
Business taxes, Individual taxes
The IRS has announced standard mileage rates for 2013. Beginning on Jan. 1, 2013, the standard mileage rates for the use of a car will be: 56.5 cents per mile for business miles driven; 24 cents per mile driven for medical or moving purposes; 14 cents per mile driven...
Business taxes, Individual taxes, Tax Debts and Collections
The IRS has released details of its FY 2013 budget request. The current request is approximately $12.8 billion, representing about an 8% increase over 2012. One of the primary focuses of the FY 2013 budget is increased enforcement. The budget includes $403 million...
Business taxes, Individual taxes, Liens and Levies, Tax Debts and Collections
A: A lien is a legal claim on property. A tax lien is a public record that puts your creditors on notice that the IRS has a claim against all of your property, including property you acquire after the lien is filed. The lien attaches to all of your property both...
