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In 2012, Many Tax Benefits Increase Due to Inflation Adjustments

For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today. By law, the dollar amounts for a variety of tax provisions, affecting virtually every taxpayer, …

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Deadline Extended to April 17

The Internal Revenue Service opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns. Taxpayers will have until Tuesday, April 17, to file their 2011 tax returns and pay any tax …

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Do I Need to File a Tax Return This Year?

You are required to file a federal income tax return if your income is above a certain level, which varies depending on your filing status, age and the type of income you receive. However, some people should file even if …

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Upcoming Tax Deadlines

January Fri 6 Deposit payroll tax for payments on Jan 1-3 if the semiweekly deposit rule applies. Tue 10 Employers: Employees are required to report to you tips of $20 or more earned during Dec 2011 Wed 11 Deposit payroll tax for …

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2012 Standard Mileage Rates

Beginning on Jan. 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 55.5 cents per mile for business miles driven 23 cents per mile driven for medical or moving …

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