The Internal Revenue Services has issued the 2017 optional standard mileage rates which are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning January 1, 2017 the standard mileage rates for the use of a car, van, pickup or panel truck will be:
Topics: IRS, mileage rates, Uncategorized
With the goal of increasing protection for taxpayers, the IRS in June launched a more rigorous version of its re-authentication process - Get Transcript - that will make it harder for identity thieves to impersonate taxpayers and access tax return information.
Topics: IRS, Tax, Tax Planning, Uncategorized
Today, it is unfortunately too regularly that we are sharing information about scams with our clients and friends. Usually, these scams are created in an attempt to gather your personal identity and information to then be used in an array of criminal activities from credit card fraud to income tax refund fraud.
Topics: Email Scam, IRS, IRS Scam, Tax, Uncategorized
According to the Government Accountability Office, independent contractors account for more than 7% of the U.S. workforce. They certainly have their place in the construction industry — be it as a specialized tradesperson, such as a carpenter, or as an IT or business consultant.
Topics: Payroll Taxes, Construction, DOL, employee misclassification, IRS, Uncategorized
The Internal Revenue Service (IRS) released revised Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities (http://www.irs.gov/pub/irs-pdf/p515.pdf). Although the publication is primarily for use in 2015, it also includes information relevant to 2014.
Topics: FATCA, FIRPTA, International Tax, IRS, Tax, Uncategorized, Withholding Tax
Phone scams, in which criminals pose as IRS agents to attempt to get unsuspecting taxpayers to reveal personal financial information and open their financial records (and checkbooks) to them are nothing new. But such scammers are becoming more sophisticated and Smith & Howard wants you to be aware of the latest alert from the IRS, dated August 14, 2014. Below is the full text of the IRS email. If you have any questions or concerns about calls you may have received, please do not provide information to callers. Instead, call the IRS number(s) listed below as well as your Smith & Howard tax professional.
Topics: Phone Scam, TIGTA, IRS, Tax Fraud, Uncategorized
Due to the government shutdown last year, the IRS was forced to delay the start of the tax filing season for individuals. Now that we are in “crunch time,” you can expect some additional delays in processing returns.
Topics: IRS, Refund, Tax, Uncategorized