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Tax Return Due Date Filing Extensions

The short-term highway funding extension passed by the Senate contains several important tax provisions. The bill was passed by the House of Representatives, 385–34, and signed into law on July 31, 2015. The bill modifies the due dates for several common tax returns, requires that additional information be reported on mortgage information statements, and requires consistent basis reporting between estates and beneficiaries. The new due dates apply to taxable years beginning after December 31, 2015. That means that they’ll apply, generally, to 2016 (the returns you’ll file in 2017) for most taxpayers.

Click here for new due dates.

As Tax Season Begins, IRS Warns of Latest Payroll Scam

In a statement issued by the Internal Revenue Service (IRS), the organization advises that it has been made aware that another email scam is targeting corporate payroll and human resources departments. Per the IRS, "in the most common iteration of the scheme, scammers send a fake email pretending to be from a high-level corporate employee requesting information about employee forms W-2."

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Further Taxpayer Scams Carried Out Nationwide

As scam artists become increasingly clever in their approaches, there has been an increasing number of schemes each year that target innocent taxpayers – whether by phone, email or throughout their daily Web use. The IRS, together with the Security Summit partners, have put together a summary of the array of evolving tax scams related to identity theft and refund fraud.

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2017 Standard Mileage Rates for Business, Medical and Moving Announced

The IRS recently decreased the standard mileage rates for business, charitable, medical and moving purposes, which took effect on January 1. For miles driven for business, the rate is now 53.5 cents per mile; for charitable organizations the rate is 14 cents per mile; and for medical or moving purposes the rate is now 17 cents per mile.

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Brian Gordon Pens Article for NYSSCPA Newsletter

Our consulting team member, Brian Gordon, Director of State and Local Tax, recently wrote a briefing for the New York State Society of Certified Public Accounts’ “Tax Stringer” e-Newsletter entitled “A Comparison of State Residency Rules.” In it, he addresses the various exemptions and primary residence requirements.

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Click on one of the following for additional updated information:
January 2017 Firm Newsletter
January 2017 S.A.L.T Newsletter

To learn more about Sanders Thaler Viola & Katz, LLP, visit www.st-cpas.com.

© 2017 Sanders Thaler Viola & Katz, LLP - Certified Public Accountants and Advisors - New York

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