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IRS has changed the mileage rules

IRS has changed the mileage rules

by | Feb 11, 2023 | Taxes

To meet the strict substantiation requirements for deducting vehicle expenses underIRC section 274(d), a taxpayer must have adequate records or sufficient corroboratingevidence that establishes:1) The amount of the expense,2) The time and place of the expense or use...
Reasons to file a tax return even if you don’t have to

Reasons to file a tax return even if you don’t have to

by | Jan 27, 2023 | Taxes

In 2019, the Internal Revenue Service received nearly 156 million tax returns. Then came the COVID-19 pandemic. In 2022, the number of 1040s filed hit 169.7 million. 2021 saw 169.1 million returns sent to the IRS, and 2022 saw 164.3 returns sent. During 2020-2022, the...
Get Ready For 2023

Get Ready For 2023

by | Dec 7, 2022 | Taxes

WASHINGTON – The Internal Revenue Service encouraged taxpayers to take important actions this month to help them file their 2022 federal tax returns. This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season....
The Third Stimulus Checks are Here

The Third Stimulus Checks are Here

by | Mar 12, 2021 | Taxes

WASHINGTON – The Internal Revenue Service announced today that the third round of Economic Impact Payments will begin reaching Americans over the next week. Following approval of the American Rescue Plan Act, the first batch of payments will be sent by direct deposit,...