Month: December 2011

IRS Moves Forward With Real-Time Tax System to OK Returns Up Front

  December 27, 2011
  1 Comment
Internal Revenue Service Commissioner Douglas Shulman Dec. 8 took a major step forward in his quest to revamp the way individuals file their income tax [...]

Presidential Candidate Tax Plan Comparison

  December 27, 2011
  2 Comments
Election 2012 With the upcoming 2012 presidential election, tax policy is on voters' minds more than ever. Taxes are one of the central issues in any national [...]

Important Retirement Tax Deadlines for 2011

  December 27, 2011
  1 Comment
Retirement savers who want to get a 2011 tax deduction for their 401(k) and IRA contributions should pay attention to several deadlines. Retirees need to take [...]

IRS Announces 2012 Standard Mileage Rates, Most Rates Are the Same as in July

  December 12, 2011
  Add Comment
WASHINGTON — The Internal Revenue Service today issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an [...]

Consequences of Filing Income Tax Return After Due Date

  December 1, 2011
  2 Comments
The due date for filing income tax return for corporate assessees and other assessees who are required to get their accounts audited under Income Tax Act 1961 [...]