Tag: #IRS

2024 IRS Mileage Rate Increases

February 6, 2024

The Internal Revenue Service issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:   67 cents perRead more…


Blog Series: Tax Law Changes & Updates for 2023

January 4, 2024

Knowing the tax changes that apply for the 2023 tax year will give you a step up in planning and can impact your bottom line. Proper tax planning requires an awareness of what’s new and changed from last year — and there are lots of tax law changes and updates for 2023 that you needRead more…


Business Use Mileage Rates for 2024

December 28, 2023

The Internal Revenue Service announced the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on January 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 67 cents per mileRead more…


The IRS and ID.me

January 26, 2023

  PPL is requesting that you create an ID.me account with the IRS. Creating an ID.me account is beneficial to you and to PPL. One of the benefits of creating an ID.me account is your ability to electronically sign a Power of Attorney authorizing PPL to communicate with the IRS on tax related matters. 1)      View,Read more…


Capital Gains Tax Blog Series 5: Updates for 2023

November 29, 2022

The thresholds for each tax rate are adjusted annually for inflation. The IRS has released  the 2023 thresholds (click here for the 2023 inflation adjustments).  Given the high inflation rates of late, the thresholds will increase at a greater rate for 2023 than they have in recent years. This is good for taxpayers, since itRead more…


Understanding How the IRS Contacts Taxpayers – Avoid Scams and How to Know it’s Really the IRS Reaching Out

September 20, 2022

With continuing phone and in-person scams taking place across the country, the IRS wants to help you understand how and why agency representatives may contact you. In most instances, the IRS sends a letter or written notice to a taxpayer in advance, but not always. Depending on the situation, IRS employees may first call orRead more…