The Internal Revenue Service issued the 2023 optional standard mileage rates today for computing the deductible cost of operating an automobile for business, charitable, medical, or moving purposes. The most notable change...more
Due to the increase in the cost of gasoline since establishing the 2022 rates last year, the Internal Revenue Service is increasing mid-year the optional standard mileage rates for computing the deductible cost of operating...more
The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2022, and the increase in rates...more
The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2021, and the decrease in rates...more
On August 8, 2020, President Donald Trump issued an executive order titled “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.” The order directed the Secretary of the Treasury to use...more
9/3/2020
/ Coronavirus/COVID-19 ,
Income Taxes ,
IRS ,
New Guidance ,
Payroll Taxes ,
Presidential Memorandum ,
Social Security Taxes ,
Tax Liability ,
Trump Administration ,
U.S. Treasury ,
Wage and Hour
The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2020, and the decrease in rates...more
I previously blogged about how unusual it was for the IRS to implement a retroactive change to a previously announced limit. As you may remember, the $6,900 limit on HSA contributions for a taxpayer eligible for a family high...more