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Archives for December 2021

2022 IRS Mileage Rates

December 29, 2021 by Todd Renner

IRS Notice 2022-03 provides maximum mileage rates for 2022 for the use of an automobile as follows. Business: $.585 per mile Medical: $.18 per mile Charitable: $.14 per mile These amounts represent an increase in the business mileage rate of $.025 and the medical mileage rate of $.02. The charitable mileage rate is unchanged. Please update […]

Filed Under: Tax Information

How To Deal with a Past-Due Tax Return

December 15, 2021 by Todd Renner

“Better late than never” applies when it comes to filing income tax returns. Here’s what you should know. Maybe you didn‘t get your 1040 done in time in a previous year and you figured you couldn’t still file your income taxes. Or maybe you thought you’d owe money that you didn’t have. Or perhaps you […]

Filed Under: Tax Information

Build Back Better Act (BBBA) Tax Changes

December 1, 2021 by Todd Renner

The U.S. House of Representatives passed President Biden’s priority social legislation called the Build Back Better Act (“BBBA”) on 19 November 2021. The bill is now headed to the U.S. Senate where Majority Leader Schumer plans to vote on it by Christmas. As currently structured, the BBBA includes the following summarized tax changes. Please note […]

Filed Under: Tax Information

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