Tax Law Snapshot for Individuals Getting trusted advice has never been more important than now. The American Taxpayer Relief Act of 2012 (ATRA) brought significant changes that will affect your 2013 tax liability. In addition to extending a number of tax provisions that had lapsed or were set to expire, the ATRA increased tax rates.
BY SALLY P. SCHREIBER, J.D. Optional standard mileage rates for use of a vehicle will go down by one-half cent per mile for 2014, the IRS announced on Friday (Notice 2013-80). Taxpayers can use the optional standard mileage rates to calculate the deductible costs of operating an automobile. For business use of a car, van,.
BY ALISTAIR M. NEVIUS, J.D. Taxpayers and practitioners breathed a sigh of relief in January when Congress passed the American Taxpayer Relief Act of 2012 (ATRA), P.L. 112-240, at the last minute, bringing some certainty to a host of provisions that had been uncertain. Many expired and expiring provisions were extended by ATRA, including the.
Did you know that the government shutdown has had an impact on your tax return? Because the shutdown prevented the IRS from doing some of its standard tax season preparation, the filing season will begin a little later and your refund could be delayed a week or two. There are also numerous changes in tax.