Due to the damage caused by Hurricane Irene in Vermont beginning on August 29, 2011, President Barack Obama declared the following counties a federal disaster area: Addison, Bennington, Caledonia, Chittenden, Orange, Rutland, Washington, Windham and Windsor....
NH Taxpayers Affected by Tropical Storm Irene Receive Extension of Time to File Returns and Pay Taxes
IRS Provides Tax Relief to NH Residents…
CT Taxpayers Affected by Tropical Storm Irene Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by Tropical Storm Irene in Connecticut beginning on August 27, 2011, President Barack Obama declared the following counties a federal disaster area: Fairfield, Hartford, Litchfield, Middlesex, New Haven, New London, Tolland and Windham. Individuals who reside or have a business in these counties may qualify for tax relief.
MA Taxpayers Affected by Tropical Storm Irene Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by Hurricane Irene in Massachusetts beginning on August 27, 2011, President Barack Obama declared the following counties a federal disaster area: Berkshire and Franklin. Individuals who reside or have a business in these counties may qualify for tax relief.
NC Taxpayers Affected by Hurricane Irene Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by Hurricane Irene in North Carolina beginning on August 25, 2011, President Barack Obama declared the following counties a federal disaster area: Beaufort, Carteret, Craven, Currituck, Dare, Halifax, Hyde, Lenoir, Onslow, Pamlico, Pitt,...
NJ Taxpayers Affected by Hurricane Irene Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by Hurricane Irene in New Jersey beginning on August 27, 2011, President Barack Obama declared the following counties a federal disaster area: Bergen, Essex, Morris, Passaic and Somerset. Individuals who reside or have a business in these...
NY Taxpayers Affected by Hurricane Irene Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by Hurricane Irene in New York beginning on August 26, 2011, President Barack Obama declared the following counties a federal disaster area: Albany, Delaware, Dutchess, Essex, Greene, Nassau, Rensselaer, Schenectady, Schoharie, Ulster and...
SD Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by flooding in South Dakota beginning on March 11, 2011, President Barack Obama declared the following counties a federal disaster area: Charles Mix, Hughes, Stanley and Union. Individuals who reside or have a business in these counties may...
Tip of the Week: Fourth Quarter Interest Rates Decrease
In IR-2011-085, the Internal Revenue Service (IRS) announced that interest rates for the fourth quarter of 2011 would decrease from the third quarter. The rates are as follows: Three (3) percent for overpayments [two (2) percent in the case of a corporation]; Three...
MO Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by flooding in Missouri beginning on June 1, 2011, President Barack Obama declared the following counties a federal disaster area: Andrew, Atchison, Buchanan, Holt, Lafayette and Platte. Declaration Leads to Extension of Payroll Tax and Other...
NE Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by flooding in Nebraska beginning on May 24, 2011, President Barack Obama declared the following counties a federal disaster area: Boyd, Burt, Cass, Dakota, Dixon, Douglas, Knox, Sarpy and Washington. Declaration Leads to Extension of Payroll...
MT Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by the severe storms and flooding in Montana beginning on April 3, 2011, President Barack Obama declared the following counties a federal disaster area: Big Horn, Carbon, Cascade, Custer, Fergus, Garfield, Hill, Jefferson, Judith Basin, Lewis...
IRS Announces Intention to Discontinue High-Low Substantiation Method
In Announcement 2011-42, Discontinuance of High-Low Method for Substantiating Travel Expenses, the Internal Revenue Service (IRS) announced its intention to discontinue authorizing the high-low substantiation method. No Comments Received on Proposed Change In Rev....
IRS Increases Standard Mileage Rate to 55.5 Cents per Mile
The standard mileage rates for the use of automobiles beginning July 1, 2011 will be 55.5 cents per mile for business miles driven and 23.5 cents per mile driven for medical or moving purposes the Internal Revenue Service announced in Announcement 2011-40 and News...
IRS Releases 2012 Inflation Adjustments for Health Savings Accounts
The Internal Revenue Service recently released Rev. Proc. 2011-32 which contained the 2012 inflation adjusted amounts for Health Savings Accounts or HSAs. Deductions Limitation Set to Increase The annual limitation on deductions will increase from $3,050 in 2011 to...
TN Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by the severe storms, tornadoes, straight-line winds, and associated flooding, in Tennessee on April 25, 2011, President Barack Obama declared the following counties a federal disaster area: Bledsoe, Bradley, Carroll, Cocke, Crockett, Greene,...
MS Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by the severe storms, tornadoes, straight-line winds, and associated flooding in Mississippi on April 15, 2011, President Barack Obama declared the following counties a federal disaster area: Alcorn, Attala, Chickasaw, Choctaw, Clarke, Clay,...
GA Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by the severe storms, tornadoes, straight-line winds, and associated flooding, in Georgia on April 27, 2011, President Barack Obama declared the following counties a federal disaster area: Bartow, Catoosa, Cherokee, Coweta, Dade, Floyd,...
AL Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by the severe storms, tornadoes, straight-line winds, and flooding, in Alabama on April 15, 2011, President Barack Obama declared the following counties a federal disaster area: Autauga, Bibb, Blount, Calhoun, Chambers, Cherokee, Chilton,...
Tip of the Week: Notice 2011-28 Limits Which Employers Must Report Health Insurance
As previously reported, the Internal Revenue Service (IRS) has released Notice 2011-28, Interim Guidance on Informational Reporting to Employees of the Cost of Their Group Health Insurance Coverage. Notice 2011-28 Applies To Large Employers Notice 2011-28 exempts...
OK Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by the severe storms, tornadoes, and straight-line winds in Oklahoma on April 14, 2011, President Barack Obama declared the following county a federal disaster area: Atoka. Declaration Leads to Extension of Payroll Tax and Other Deadlines...
NC Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by the severe storms, tornadoes, and flooding in North Carolina on April 16, 2011, President Barack Obama declared the following counties a federal disaster area: Alamance, Bertie, Bladen, Craven, Cumberland, Currituck, Greene, Halifax,...
Question of the Week: Have the Expanded Form 1099 Reporting Requirements Been Repealed?
This week’s question comes from Lindsay, an office manager. I read before that businesses were going to have expanded Form 1099-MISC reporting requirements starting in 2012. Now I’ve heard that these requirements may have been repealed. Have the expanded Form 1099...
Tip of the Week: Guidance on Form W-2 Reporting for Health Coverage Issued
The Internal Revenue Service (IRS) recently released Notice 2011-28, Interim Guidance on Informational Reporting to Employees of the Cost of Their Group Health Insurance Coverage. Notice 2011-28 Does not Cause Excludable Employer-Provided Health Care Coverage to...
IRS to Host Free Webinar on Small Business Retirement Plans
On April 7, 2011, the Internal Revenue Service (IRS) will host a free webinar titled Easy, Low Cost Ways to Start Your Small Business Retirement Plan. Learn What Will Work for Your Small Business Watch this free webinar to learn about the following: Low-cost...
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