The IRS has increased the mileage rate for the business use of a car, to 48.5 cents per gallon, from 40.5 cents per gallon effective September 1, 2005. The rate is only good through December 2005. The IRS anticipates that it will, later in the fall, make the annual adjustment for 2006.
When it comes to Super Bowl, folks think chili, beer and commercials. They also think gambling. It’s one of those games that inspires a lot of big money, sure, but also enormous numbers of side bets and the ubiquitous office pools. What does gambling have to do with tax? Plenty. Gambling winnings, no matter whether…
Yes, it’s another spammy email purporting to be from the IRS. This one has, as its subject, “IRS-SUBJ1” and claims to be from the IRS Tax Notification Department (support@irs.gov) though the IP address appears to actually be located in the Republic of Korea. The email says: Dear Taxpayer! You are encouraged to pay a penalty…
Rhiannon O’Donnabhain is challenging a decision not to allow the $25,000 cost of her 2001 sex-change and breast augmentation surgeries as a tax deduction. According to the Internal Revenue Service (IRS), both surgeries were elective and cosmetic, and therefore not deductible as medical expenses. 63-year old O’Donnabhain argued in Tax Court that the procedures were…
Ready to pay your tax bill? Here’s what you need to know in 2018.
Whether you’re considering serving up slices, mowing lawns or ringing up groceries, here’s what kids – and their parents – should know about summer jobs and taxes.
If you, like me, joined millions of other taxpayers in filing for an extension this year, be sure to check your calendar: October 15 is the due date to file your 2019 tax return. To avoid late filing penalties, you need to file on or before the October 15 deadline. If you owe taxes, you’ll…