Taxpayers should know the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. The standard mileage rate for business is based on an annual study of both…
At the end of 2016, as part of a concerted, continuous effort to gather feedback from the tax community and partner groups, the Internal Revenue Service announced that tax professionals attending the Nationwide Tax Forums provided valuable guidance to Future…
Recently, the IRS Office of Chief Counsel held, in a private letter ruling, that it could not grant a taxpayer’s request for an extension of time to file a safe harbor election under Rev. Proc. 2011-29. This election is related…
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