Archives for December 2012

Unless you are a recluse, you have heard how diligently, arduously and with the upmost determination our President and members of Congress have been working on resolving the budgetary fiscal issues. … [Read more...] about The Fiscal Cliff – Filing Extensions of Time to File

Acting IRS Commissioner, Steven T. Miller, has urged the Senate Finance Committee to act immediately to address the AMT patch that expired December 31, 2011. Since the AMT patch has been extended by … [Read more...] about AMT Patch Delays IRS Processing of 2012 Returns?

Employees may be surprised to a new item reported on their 2012 W-2s. Beginning with the issuance of 2012 W-2s, the employer is required to report the value of health care coverage … [Read more...] about Form W-2 Reporting of Employer-Sponsored Health Care

The IRS has released (IRS Notice 2012-72) the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving expense … [Read more...] about IRS ANNOUNCES 2013 STANDARD MILEAGE RATES

If you have one or more traditional IRAs set up in your name and you will be age 70 1/2 or older at year end or you have an inherited IRA, you must comply with the required minimum distribution (RMD) … [Read more...] about DON’T FORGET TO TAKE 2012 IRA REQUIRED MINIMUM DISTRIBUTION

Here's a snapshot of what you must do to steer clear of trouble with the IRS when you hire someone to take care of your children in the home. The trouble is that not paying the "nanny tax" is … [Read more...] about “Nanny Tax” Considerations