IRS Mileage Rates for 2024

IRS Mileage Rates for 2024

The IRS has announced the 2024 standard mileage rates. These rates are for calculating the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning January 1, 2024, the standard mileage rates for the use of a car...
2024 IRS Inflation Adjustments for Individual Taxpayers

2024 IRS Inflation Adjustments for Individual Taxpayers

The IRS has announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024. This includes updates to tax rate schedules and other tax changes, as detailed in Revenue Procedure 2023-34:   The 2024 Standard Deduction is increased shown in...
IRS IP PIN Program: What You Need to Know

IRS IP PIN Program: What You Need to Know

Identity theft related to tax returns is a concerning issue. Fraudsters with access to taxpayer’s personal information, might file a tax return and claim a fraudulent refund before the real taxpayer gets a chance. By the time the legitimate taxpayer files, the IRS...