Cormier & Rea announce additional office at 483 Summer St, Ste 2000, Arlington, MA
Blog posts concerning Federal Income Tax tips, changes, updates, news and more
11/1/2006 IRS Announces 2007 Standard Mileage Rates IR-2006-168, Nov. 1, 2006 Rev. Proc. 2006-49 The IRS has announced the standard mileage rates for tax year 2007. Beginning January 1, 2007, the standard mileage rates for the use of a car (including vans, pickups or panel trucks) will be: 48.5 cents per mile for business miles …
Online Payment Agreement Available Taxpayers who owe delinquent federal income taxes will now be able to apply online for a payment agreement. The Online Payment Agreement (OPA) application that is available on www.irs.gov provides an easy way to voluntarily resolve tax liabilities. The new web-based application allows eligible taxpayers or their authorized representatives to self-qualify, …
The Pension Protection Act of 2006 provides retroactive tax relief to military reservists activated after September 11, 2001, and before December 31, 2007. Military reservists called to active duty can receive payments from their individual retirement accounts, 401(k) plans and 403(b) tax-sheltered annuities without having to pay the 10 percent early-distribution tax.
Toyota has sold its first 60,000 vehicles qualifying for advance lean burn technology and hybrid vehicles. As a result, after today the vehicle credit drops by half and will continue to drop according to the table on page four of this notice: http://www.irs.gov/pub/irs-drop/n-06-78.pdf