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, …

Beginning on Jan. 1, 2013, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

56.5 cents per mile for business miles driven.
24 cents per mile driven for …

Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2012 and the years ahead, according to the Internal Revenue Service.

The saver’s credit helps offset part …

Question: What is the basis of property received as a gift?
Answer:
To figure the basis of property you receive as a gift, you must know 3 amounts:

The adjusted basis to the donor just before it was given to you.
The fair …

January

Thu
3
Deposit payroll tax for payments on Dec 26-28 if the semiweekly deposit rule applies.

Fri
4
Deposit payroll tax for payments on Dec 29 – Jan 1 if the semiweekly deposit rule applies.

Wed
9
Deposit payroll tax for payments on …