by GruffyGoat Team | Jan 8, 2016 | IRS
Hopefully you keep good records of all your expenses. Keeping good records is the easiest way to make sure everything goes smoothly if you’re audited. But if you haven’t kept good records, there may be an alternate approach you can take to claim a loss if you need to....
by GruffyGoat Team | Dec 30, 2015 | IRS, Taxes
Yes, it’s that time of year again. The IRS announced last week that the 2016 tax season will begin as scheduled on Tuesday, January 19. They’ll begin accepting both individual electronic returns and paper returns that day. The IRS expects to receive more than 150...
by GruffyGoat Team | Dec 22, 2015 | IRS, Small Business
The lower gas prices are going to be reflected in the mileage rates for 2016. The IRS just announced that beginning January 1, 2016, standard mileage rates will be: 54 cents per mile for business miles, down from 57.5 cents for 2015 19 cents per mile for medical or...
by GruffyGoat Team | Dec 21, 2015 | IRS
Hopefully you don’t owe the IRS $100 million or more, but those who do will need to plan on paying with something other than a check after December 31st. Internal Revenue Bulletin No. 2015–36, dated September 7, 2015, states: “The Federal Reserve will not accept...
by GruffyGoat Team | Oct 7, 2015 | IRS, Taxes
If you were affected by the recent South Carolina flooding, whether as a business or as an individual, and you filed an extension until October 15, you now have until February 16, 2016 to file and pay any taxes due. If you’re a worker assisting the relief...
by GruffyGoat Team | Oct 1, 2015 | IRS
The IRS announced that interest rates on overpayments and underpayments will stay the same for Fourth Quarter 2015. Here are the details: 3% for overpayments (2% percent in the case of a corporation) 0.5% percent for the portion of a corporate overpayment exceeding...
