Month: December 2011

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

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

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

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

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

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 [...]