Tag: tax
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Are you Early or Late?
In the realm of tax filing, individuals tend to fall into one of two distinct camps: those who aim to file their taxes at the earliest opportunity and those who prefer to delay the process until the last conceivable moment. This division is not merely a matter of personal preference but reflects deeper attitudes towards…
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Michigan Clients Impacted by Severe Storms
Qualify for Tax Relief The Internal Revenue Service today announced tax relief for individuals and businesses in parts of Michigan affected by severe storms, tornadoes and flooding that began on Aug. 24, 2023. These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments. The…
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Standard Mileage Rates for 2024
standard mileage rates for 2024 WASHINGTON — The Internal Revenue Service today issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or…
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National Taxpayer Advocate Urges IRS Reform and Tax Reform
Well, it is that time of year when you get my long-winded article on the Taxpayer Advocate’s Report to Congress. National Taxpayer Advocate Nina E. Olson today released her 2016 annual report to Congress, recommending that the IRS revamp its “Future State” plan to adopt a taxpayer-centric focus and urging Congress to emphasize simplification when…
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Neighbors Wins Tax Court Case at Appeals Level
Jonathan Neighbors, EA of Cook & Co. Tax Advisors gives Presentation on Birmingham Tax Court Case The tax court case was on the docket for federal court in Birmingham and only weeks away, when the IRS Appeals Officer sent a letter to Neighbors requesting a telephone conference. The call was scheduled for 9:00 am on September 23rd with…
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Failure to File Penalty Increase
IRC Section 6651 On February 24, 2016, the President signed into law H.R. 644, the Trade Facilitation and Trade Enforcement Act of 2015. The law authorizes U.S. Customs and Border Protection to put in place tools to strengthen trade enforcement at the border and facilitate the efficient movement of legitimate trade and travel. The law…
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Taxpayer Authentication and Theft Protection
The Alabama Department of Revenue is requiring the following information from your Driver’s License this year; Driver’s License Number, State, Expiration Date and Issue Date. Last year TurboTax suspended the online filing of state tax returns after a massive spike in fraudulent refund requests, most of which, were tracked back to hijacked or fraudulently created…
