Category Archives: IRS

IRS Releases New 2018 Withholding Tables

Posted on January 11, 2018 by Russ

The IRS announced today the release of new withholding tables reflecting the new tax law. These will be used for W-2s, and should be used no later than February 15th. The IRS is working on a new W-4 form that … Continue reading →

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It’s 1099 Time

Posted on January 9, 2018 by Russ

It’s time for businesses to send out their annual information returns. These are the Form 1099s that are sent to to vendors when required. Let’s look first at who does not have to receive 1099s: Corporations (except attorneys) Entities you … Continue reading →

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Start Your 2018 Mileage Log Now

Posted on January 4, 2018 by Russ

I’m going to start the new year with a few reposts of essential information. Yes, you do need to keep a mileage log: Tuesday was the first business day of the new year for many. You may have resolved to … Continue reading →

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IRS Announces Tax Filing Season Begins January 29th

Posted on January 4, 2018 by Russ

The IRS today announced that the 2018 Tax Filing Season will begin on Monday, January 29th. This year’s deadline for individual returns is Tuesday, April 17th.

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2018 Standard Mileage Rates Released

Posted on December 14, 2017 by Russ

The IRS today announced the standard mileage rates for 2018: $0.545/mile for business miles driven (up from $0.535/mile in 2015); $0.18/mile for medical or moving purposes (up from $0.17/mile in 2015); and $0.14/mile in service of a charitable organization (unchanged; … Continue reading →

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IRS Interest Rates Unchanged for First Quarter of 2018

Posted on December 6, 2017 by Russ

The IRS announced that interest rates for the first quarter of 2018 remain unchanged: The rates will be: • four (4) percent for overpayments [three (3) percent in the case of a corporation]; • 1 and one-half (1.5) percent for … Continue reading →

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IRS Mostly Wins Coinbase Summons Fight

Posted on November 29, 2017 by Russ

The IRS has been battling Coinbase, the United States’ largest cryptocurrency exchange, in a fight to obtain information about individuals who sold Bitcoins during 2013, 2014, and 2015. The IRS issued a summons to Coinbase–basically, an administrative demand for information. … Continue reading →

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“Hello, It Has Been Detected That You Are a Scammer….”

Posted on November 16, 2017 by Russ

After recovering from a bout with the flu I attended continuing education yesterday with the Nevada Society of Enrolled Agents. We had a presentation from a Special Agent with TIGTA (the Treasury Inspector General for Tax Administration). One of the … Continue reading →

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The Shortest Tax Court Opinion I’ve Seen

Posted on October 31, 2017 by Russ

I’ve seen opinions of the Tax Court run to hundreds of pages on complex cases. Today, I perused what might be the shortest Tax Court decision I’ve ever seen. The petitioner erroneously filed as “Head of Household” when she should … Continue reading →

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IRS E-Filing for Individuals Closes on November 18th

Posted on October 31, 2017 by Russ

The IRS announced today that e-filing for 2016 tax returns will close on Saturday, November 18th. After that date individuals who need to file 2016 tax returns will need to paper-file those returns until e-filing reopens (most likely in late … Continue reading →

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