IRS releases business standard mileage rate for 2012 The business standard mileage rate, which many employers use to
reimburse employees for business miles driven, is 55.5
cents-per-mile for 2012, the IRS has announced. This reflects
no change from ...
IRS reminds dual citizenship taxpayers to report foreign accounts The IRS recently reminded dual citizenship taxpayers and U.S.
citizens residing abroad to file U.S. income tax returns and, if
appropriate, Form TD F 90-22.1, Report of Foreign Bank and
Financial A...
IRS revises regulations for capitalization of tangible assets Just before year-end 2011, the IRS issued much-anticipated revised
regulations on the capitalization of tangible assets. The IRS
withdrew proposed regulations issued in 2008 and issued temporary
an...
IRS updates Form 940 for mid-year expiration of FUTA surtax The IRS has updated Form 940 to reflect the mid-year 2011
expiration of the 0.2 percent FUTA surtax. FUTA taxes for 2011 will
be calculated using two rates, the IRS explained.Mid-yea...
CA - Independent contractor withholding webinar announced The California Franchise Tax Board (FTB) is holding a free webinar
on December 20, 2011, at 10 a.m. PST, for those who must withhold
personal income tax on California source income...
NY - Application for award of administrative costs denied A taxpayer was not entitled to an award of administrative costs
under Tax Law §3030 with regard to a New York sales and use
tax settlement, even though the taxpayer established tha...
WA - Taxability of insurers explained The Washington Department of Revenue has updated an industry guide
on the application of sales and use tax to the insurance industry.
Insurers and affiliates are responsible for pa...
WY - Vendor credit allowed for early payment of taxes A Department of Revenue newsletter reminds vendors that they will
be allowed to take a credit on their Wyoming sales and use tax
return, effective with the January 2012 reporting p...
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