Tax

Grant Thornton is offer some year-end tax planning tips for both individuals and businesses, and their accountants, facing the expiration of the Bush tax cuts.

The Internal Revenue Service has raised the standard mileage rates by 1 cent per mile for next year when calculating the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

The Internal Revenue Service Oversight Board has sent a letter to the leaders of Congress’s two tax-writing committees urging them to act swiftly to patch the Alternative Minimum Tax to keep it from spreading to millions more taxpayers.

CCH has introduced new mobile apps providing access to several of its journals and newsletters from the Apple iPad, along with a new app aimed at tax students.

Nearly 80 percent of business executives said they would be willing to accept the repeal of certain tax incentives in exchange for a lower overall corporate tax rate, according to a new report by KPMG.

Postcards can be an effective marketing tool during tax season if targeted precisely to existing clients and used to build brand recognition.

President Obama met with congressional leaders at the White House on Friday to negotiate over the expiration of the Bush tax cuts and the looming problem of the so-called “fiscal cliff,” with the leaders agreeing that the meeting had been constructive.

Many military may be overpaying their state taxes, according to analysis done by The Tax Institute at H&R Block.

While tax experts are divided on the immediate future of tax rates as we approach the fiscal cliff (the combination of scheduled tax rate increases and spending cuts by the government), the consensus is that rates will indeed rise precipitously.

There were 62 percent more indirect tax changes worldwide in the third quarter of this year than during the same period last year, according to a new report.