IRS Updates Rules For Using Per Diem Rates

IRS updates rules for using per diem rates

  • December 30, 2019
  • Tax

The IRS recently issued guidance on how businesses, self-employed individuals and qualified employees can use the per diem rules to substantiate their business travel expenses for tax purposes. The guidance in Revenue Procedure 2019-48 modifies 2011 guidance to reflect changes…

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Highlights Of Recent Tax Law Changes

Highlights of Recent Tax Law Changes

  • December 24, 2019
  • Tax

The federal government spending package titled the Further Consolidated Appropriations Act, 2020, does more than just fund the government. It extends certain income tax provisions that had already expired or that were due to expire at the end of 2019.…

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IRS Updates Rules For Mileage-related Deductions

IRS Updates Rules for Mileage-related Deductions

  • December 3, 2019
  • Tax

IRS updates rules for mileage-related deductions The IRS has issued new guidance updating the rules for using optional standard mileage rates when calculating “above-the-line” deductions for the costs of operating an automobile for certain purposes. IRS Revenue Procedure 2019-46 also…

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What Is Your Taxpayer Filing Status?

What is Your Taxpayer Filing Status?

  • November 26, 2019
  • Tax

For tax purposes, December 31 means more than New Year’s Eve celebrations. It affects the filing status box that will be checked on your tax return for the year. When you file your return, you do so with one of…

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