Monthly Archives: October 2016

Congress passes targeted tax bills, stop-gap spending measure

As lawmakers prepared to recess for November elections, they also passed several tax-related bills in September. The bills addressed IRS operations, deductions, and more. At the same time, House and Senate negotiators reached an agreement to avoid a federal government shutdown, including the IRS, after the end of the current...
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FAQ: What is the 80/50 rule for van pooling?

Federal tax law allows taxpayers to exclude from income “qualified transportation fringe benefits.” Included in this category of benefits are van pools  There are three types of van pools for federal tax purposes: Employer-operated van pool. In an employer-operated van pool, the employer either purchases or leases vans to enable...
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October 2016 tax compliance calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of October 2016.  October 5 Employers. Semi-weekly depositors must deposit employment taxes...
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A first look at 2017 inflation-adjusted tax amounts now available

An early glimpse at the income tax picture for 2017 is now available. The new information includes estimated ranges for each 2017 tax bracket as well as projections for a growing number of inflation-sensitive tax figures, such as the tax rate brackets, personal exemption and the standard deduction. Projections –...
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