Tag Archives | Gift Planning

Washington Hotline – January 14, 2020

WASHINGTON NEWS Gig Economy Tax Center Launched In IR-2020-4, the Service announced the new Gig Economy Tax Center on IRS.gov. With the explosive growth of ride-sharing, home rentals and other gig businesses, millions of taxpayers have gig income and new tax obligations. Ride-sharing, renting your property, selling goods online, renting equipment, providing creative services or freelance […]

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Washington Hotline – January 7, 2019

WASHINGTON NEWS IRS Publishes 2020 Business, Moving, Medical and Charitable Mileage Rates In Notice 2020-5, the IRS announced mileage rates for use in computing deductability in 2020. The 2020 mileage rate for business is 57.5 cents per mile. The rate is 17 cents per mile for moving and medical travel. For qualified charitable travel, the […]

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Washington Hotline – December 10, 2019

WASHINGTON NEWS Passwords Can Protect Data From Identity Thieves In IR-2019-196, the Service offered nine tips for password protection. With the growth of online shopping, millions of Americans are potentially exposed to online fraudsters. The first line of defense against online attacks is creating strong passwords. IRS Commissioner Chuck Rettig noted, “Taking a few simple […]

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