Tag Archives: tax filing

12.30 2020

Standard Mileage Rates for 2021

The Internal Revenue Service (IRS) issued the standard mileage rate for 2021 to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purpose.

 

 

Standard Mileage Rates for the beginning on January 1, 2021 for the uses of car, vans, pickups or panel truck will be:

Period Business Charity Medical Moving
2021 56 14 16
2020 57.5 14 17

 

  • 56 cents per mile driven for business use, down 1.5 cents from the rate for 2020
  • 14 cents per mile driven in service of charitable organizations, the rate is set by statute and remains unchanged from 2020
  • 16 cents per mile driven for medical or moving purposes for qualified active duty members of the Armed Forces, down 1 cent from the rate for 2020

 

The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.

 

 

Important Note:

  • Under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses.
  • Taxpayers also cannot claim a deduction for moving expenses, unless they are members of the Armed Forces on active duty moving under orders to a permanent change of station. For more details see Moving Expenses for Members of the Armed Forces.
01.10 2012

2012 Tax Deadlines

For everyone who’s looking to start the new year off right, check out the tax filing dates below. Don’t forget to talk to your tax preparer about gathering information needed to complete these filings.

Deadlines for Businesses and Non-profit Organizations

  • January 31, 2012 – W-2’s due to employees; 1099’s due to contractors/investors/others
  • February 29, 2012 – W-3 and 1096’s due to IRS
  • March 15, 2012 – Corporate tax returns or filing extension due to IRS
  • May 15, 2012 – Non-profit tax returns or filing extension due to IRS

Deadlines for Individuals

  • April 17, 2012 – Individual tax returns or extension due to IRS

If you are unsure of your filing requirements, visit the IRS website to determine your obligation.